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Testimonials

"Jackson & Wilson came highly recommended to us from a Superior Court Judge who is a good friend of ours.  We were pleased with both the high level of professionalism and the constant concern for our best interest.  We were always kept well informed of the status of our case.  We feel highly confident in referring Jackson & Wilson to others."

-- Mr. Chris B (Local contractor and Laguna Niguel family man)

"Your firm helped me through one of the most difficult time of my life. You were all so gracious about any questions I had.  The speed with which you brought my legal case to a fair and fast conclusion was so appreciated and I am sure I would not be in the position I am in if you hadn’t resolved it and got the monetary help for me."

-- Ms. Elaine A.  (Retired and active senior citizen)

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Case Results

Most of our new clients are referred to us by past clients and other attorneys in our community.  Why?  Because they know we "walk the talk" and have the experience and expertise to get solid results.  Here are a few examples...

$5,000,000- Wrongful death and catastrophic injury

$3,347,000- Catastrophic injury and Insurance Bad Faith

$1,250,000- Wrongful death

$2,759,852- Catastrophic injury

$1,152,926- Malpractice

$1,000,000- Wrongful death

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Asset Protection

Asset protection is a process of lawfully and ethically owning, managing and controlling personal and business assets to protect them from creditor attack.  Another words, protecting your "nest-egg".

Asset protection is a process of lawfully and ethically owning, managing and controlling personal and business assets to protect them from creditor attack.  It is an ongoing interdisciplinary effort which, depending on the unique needs of each individual client, may involve the application and conflict of law analysis of established and anticipated state, federal and international law, estate planning law, debtor-creditor law, real property law, contract law, bankruptcy law, corporate law, partnership law, trust law, family law, pension plan law, social security law, criminal law, civil procedure law, evidence law, civil code law, Medicare law and Medicaid law.

Proper asset protection planning should include lowering the asset profile of individuals and businesses to not only discourage frivolous lawsuits, but to also shield assets from criminal activity.  Effective asset protection planning will segregate and insulate assets from future liabilities and with proactive pre-litigation planning, will substantially minimize or reduce a client’s exposure to claims, lawsuits and judgments.  Because of the above-described complexity and, the very important attorney work-product and attorney-client privileges, qualified and experienced legal counsel is necessary to plan, implement and maintain on an ongoing basis, a lawful and effective asset protection plan.

As referenced above and evidenced by common sense, equity and a rapidly expanding line of court cases, a proper and effective asset protection plan should never be designed around secrecy, hiding assets, defrauding creditors, laundering money, avoiding the disclosure or reporting of income or, to evade taxes.  State and federal judges will not, and should not, tolerate fraudulent conduct.  Assets fraudulently transferred will be ordered returned and debtors failing to comply with the court’s order may very well be jailed for contempt.

With the above in mind, the key to a legal and effective asset protection plan is to take proper action well before there is a claim.  To plan and coordinate an effective estate and asset protection plan to protect your assets while you are alive, and to make sure your assets are properly transferred to your heirs after you are gone.

Despite what you might read on the internet or in a classified ad in the back of a magazine, we can comfortably state that as a consumer, it would be impossible to show and teach you everything you need to know (and continue to learn on a daily basis) to plan and design an asset protection plan.  It would be similar to a board certified surgeon, with 20 years of experience, trying to show you over the internet how to diagnosis and then perform coronary artery bypass surgery.  It just can’t be done!


People spend more time working on their golf game than they do their asset protection plan...

Did you know that during his or her lifetime, the average person will spend about 90,000 hours working hard to provide for his or her family and to accumulate wealth.  During this 45 year period of time, this same individual will spend less than a total of only 3 hours planning and taking steps protect his or her hard earned assets.  The truth of the matter is that more people spend time on the golf course working on their swing than they do planning their estate and protecting their assets.

Statistics show that we will be sued at least two to three times during our lifetime.  Business owners and professionals have a one in three chance of being sued during the next year alone.  A new lawsuit is filed almost every 30 seconds with nine out of ten lawsuits in the world being filed in the United States.

It's not a matter of IF you get sued, it's WHEN.  The real question is... What are you going to do about it?
 

What Is The Difference Between Estate Planning and Asset Protection?

The two go hand in hand and compliment each other.  A properly designed and implemented estate plan will, at the time of your death, facilitate the transfer of your wealth to your loved ones and minimize, or eliminate, estate death taxes.  As indicated above, in addition to protecting your assets and providing for your beneficiaries after your death, an asset protection plan will also offer you protection of your assets while you are alive.

Similar to an estate plan, an effective asset protection plan is also specifically tailored to individual and unique needs and normally includes a combination of one or more of the following tools:

Living Trust and Wills
Family Limited Partnerships
Ancillary Documents (pourover wills, powers of attorney, property agreements)

Irrevocable Life Insurance Trusts
Irrevocable Trust
Intentionally Defective Grantor Trusts
International Trust and Entities
Domestic Asset Protection Trust and Entities
Gifting Trusts
Ancillary Documents (client portfolios, Crummey notifications, letters of instruction)

Exemption Planning
ERISA Retirement Plans
Pre and Post Marriage Property Title Agreements
Insurance

Charitable Remainder Trusts
Charitable Lead Trusts
Private Foundations
Testamentary Charitable Distributions
Ancillary Documents (client portfolios, letters of instruction)

Qualified Personal Residence Trusts
Grantor Retained Annuity Trusts and Unitrusts
Grantor Retained Income Trusts

Wills with and without tax planning
Ancillary documents
Conduit Trusts

Individual Special Needs Trust
Joint Special Needs Trust
Memo of Intent Guidelines

Retirement Trust
IRA Master Beneficiary Designation
Qualified Plan Master Beneficiary Designation
Beneficiary Designation Inserts

FLLC formation documents

Funding and Transfer Documents
Correspondence and Other Forms
Full funding and asset transfer associated with the above tools.

Overview- Asset Protection  (when used properly with Business and Estate Planning Concepts)

• Protection-  The best reason to plan and implement a proper and effective asset protection plan is to protect all of your valuable assets (money, investments, home, investment properties, retirement plans, college savings plans and business interests) from claims and judgment creditors.
   
• Ethical and Established Business Methods-  An asset protection plan involves the process of properly planning and then legally establishing, coordinating and transferring assets into one or more properly formed, managed and controlled legal structures or entities such as corporations, limited liability companies, family limited partnerships and trusts.  Effective plans require a "hands on" approach to accommodate changes in your lifestyle and the law.
   
• Tax Avoidance and Disclosure- Asset protection is not a plan based on secrecy to hide assets, defraud creditors, launder money or to evade taxes.  In fact, it is just the opposite.  Full disclosure and tax compliance is a mandatory requirement.
   
• Wills and Revocable Living Trust WILL NOT Protect Your Assets-  Most people believe that setting up a Will or Living Trust will protect their assets from judgment creditors.  Nothing is further from the truth.  Both provide zero asset protection.
   
• U.S. and Offshore Entities-  You do not need to go offshore to protect your assets.  In fact, offshore asset protection will only work under very limited circumstances.  Using well respected and understood entities based in the U.S. such as Irrevocable Trusts, Corporations, LLC's and FLPs is normally the most effective and costs efficient approach.

Search Our Web Site (www.JacksonWilson.com) and Catastrophic Injury and Wrongful Death Blog  (www.JWInjuryBlog.com)
 

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