Montana Asset Protection Lawyers
When people in Montana want to preserve their assets to pass them on to their heirs, Tanko Law Office can be of assistance. Asset protection is vital to ensure that sentimental property such as a ranch or farm that has been in a family for generations, passes to your children. For more than 16 years, Tanko Law Office has helped clients plan and protect their most important assets.
Benefits of Working With an Asset Protection Attorney
- Get advice on how to protect your assets from creditors
- Understand the implications of using trusts and other methods of asset protection
- Draft and review legal documents to protect your assets
- Set up an LLC or other corporate entity to shield your assets
- Formulate strategies to help you avoid future litigation
- Create a plan to reduce taxes
- Educate you on the latest legal developments in asset protection
When crafting your estate plan, it is important to consider who may be the best person to serve as guardian for your dependents in the event of your passing. Working with a knowledgeable Montana guardianship lawyer can help you make an informed and confident decision about who to name as guardian. Many clients approach their estate planning with a specific candidate in mind, while others are unsure of who may be the right person for the role. In either case, our experienced team is here to help you determine the best possible guardian for your dependents.
Evaluating Assets and Liabilities
We evaluate your assets and liabilities to ensure that you are taking the proper steps to protect them
Creating and Implementing a Comprehensive Asset Protection Plan
We create a comprehensive plan for protecting your assets and provide guidance on how to implement it.
Establishing Asset Protection Trusts
We can help you establish a trust to protect your assets from creditors and other potential threats.
Asset Protection Strategies for Clients
We make sure our clients are aware of all of their asset protection options before they make any decisions. Some of the different strategies we tell our clients about:
- Family Limited Partnerships (FLPs): These partnerships are formed by families and limit creditors from forcing a partner to sell (or liquidate) his or her interest. However, creditors may be able to obtain something known as a charging order against the partnership.
- Asset Protection Trusts: Also called spendthrift Trusts, these Trusts allow a person to benefit from the assets held in the Trust, but limit a creditor's ability to attach to the Trust assets.
- Trusts: Irrevocable Trusts offer more protection from creditors than revocable Trusts. However, if these are not properly set up, even an irrevocable Trust may not properly preserve assets. For this reason, it is important to have an experienced Montana asset protection attorney assist in the formation of Trusts.
- Limited Liability Companies (LLCs): LLCs are one of the preferred structures to protect business assets. These companies offer limited liability for limited partners which can be a beneficial tool to protect business assets from creditors.
Domestic vs Offshore Asset Protection
|Domestic Asset Protection||Offshore Asset Protection|
|Domestic asset protection means protecting assets within the jurisdiction of the United States. This could include creating trusts or setting up LLCs to shield assets from creditors and lawsuits.||Offshore asset protection involves protecting assets outside of the United States. This often involves creating an offshore trust or company in a jurisdiction with strong asset protection laws. This type of asset protection is often used to shield assets from creditors, lawsuits, and taxation.|
While offshore asset protection is not an option for everyone, in certain situations they can be a useful tool for protecting your assets. At Tanko, we’ll work with you every step of the way to ensure your needs are met.
Protect Your Assets with Tanko Law
Hiring an asset protection attorney can be beneficial for anyone, regardless of their current status. It is possible for anyone to protect their assets, such as their home, car, and savings account. However, the process is complicated and it is important to understand the law and work with a professional to ensure everything is done correctly.
Call Tanko Law today or use the online contact form to schedule a free initial consultation to find out how we can help you protect your most valuable assets. Our experienced attorneys will make sure you get the service you need to ensure your assets are protected.