Brian makes sure his clients are aware of all of their asset protection options before they make any decisions. Some of the different things Brian tells his clients about are:
- Family Limited Partnerships (FLPs): These partnerships prevent creditors from forcing a partner to sell (or liquidate) his or her interest. Creditors may be able to obtain something known as a charging order against the partnership. However, the immense amount of work required to actually obtain property in an FLP means that creditors are usually deterred from attempting to collect these assets.
- Trusts: Irrevocable Trusts offer more protection 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.
- Asset Protection Trusts: Also called spendthrift Trusts, these Trusts allow a person to control a Trust’s assets, but not to take assets out of the Trust. Creditors are unable to take any assets that remain in the Trust.
- Limited Liability Companies (LLCs): LLCs are one of the preferred structures to protect business assets. These companies offer protection that is similar to FLPs, but in a business context.
Nevada has some of the most cutting edge asset protection options in the country. Because Brian is dually licensed to practice law in both Montana and Nevada, he is able to offer his Montana clients the additional asset protection opportunities that his Nevada clients already enjoy.
Contact the Firm
-Tanko Law Office maintains flexible hours to accommodate its clients in both Montana and Nevada. Call (406) 257-3711 or use the online contact form to schedule a free initial consultation with a lawyer at a time that is convenient for you.