You work hard to build assets for your long-term benefit and for the benefit of your family. You want your efforts to count and to help create a better life for those you love. Unfortunately, your hard-earned assets may be vulnerable due to legal action, bankruptcy and other incidents.
When you start developing and building assets, it’s important to consult with an asset protection attorney in Berks County, PA or your community to create a personalized plan for protecting the property, businesses and investments you accumulate. Think of it as a fire escape plan for when everything goes wrong or as an insurance policy. When the worst happens, your asset protection plan protects you and your family from undue financial distress.
Why Are Your Assets at Risk in Pennsylvania?
There are a number of vulnerabilities that could affect your investments, bank accounts, savings and other assets, including:
- Personal injury lawsuits launched by someone who has been injured on your property
- Professional malpractice liability lawsuits directed at you
- Personal injury lawsuits caused by car accidents or vehicle accidents.
- Legal claims by former business partners
- Liability claims resulting from accusations of misconduct
- Sudden illnesses, requiring a nursing home or other long-term care
- Personal liability claims resulting from your position as a director or corporate officer of a business
- Liability claims resulting from your role as guarantor of debts
- Divorce Proceedings
Even if your business and investments thrive, the hours you have poured into your business or your career may be at risk due to legal action, illness or other causes.
Protecting Your Assets in Pennsylvania
No one has a crystal ball to tell you what will happen, and often there is little warning before a sudden illness or other issue strikes. However, you can be sure no matter who you are, you will eventually face challenges. Being prepared for those challenges and engaging in risk assessment and risk reduction are just smart business moves.
An asset protection attorney in Reading, PA can support you in developing a personalized plan to protect your assets. A personalized plan can include: