In order to avoid the appearance of a fraudulent transfer, it is best not to try to protect all of your assets. This can be seen as extrinsic evidence of an intent to evade or hide assets from creditors. Because an individual who purposefully hides assets from creditors will not readily admit to fraud, it is. necessary for the courts to determine, from the circumstances, whether the intent to defraud exists. The safest thing to do is obtain a reasonable level of asset protection, which is often referred to as “nest egg” planning.
Topics covered in this report include:
- Waiting to Seek the Advice of Counsel
- Hiring an Attorney with No Expertise in Asset Protection
- Trying to Protect Too Much
- Disregarding Life Insurance and Annuities
- Forgetting to Revise Your Plan
- Retaining Too Much Control Over your Assets
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Wilcox Attorneys, PA is a Fayetteville-based law firm dedicated to helping families and businesses across Northwest Arkansas, including Springdale, Rogers, and Bentonville, plan for the future with confidence. Founded by attorney Audra Bailey Wilcox, our mission at Wilcox Attorneys is simple: put your needs first.
We take time to understand your goals and explain your options in plain English. Whether you need a comprehensive estate plan or guidance for your business, we make the process clear and stress-free. You tell us what you want; we create a plan that protects your wishes and your assets.
We take time to understand your goals and explain your options in plain English. Whether you need a comprehensive estate plan or guidance for your business, we make the process clear and stress-free. You tell us what you want; we create a plan that protects your wishes and your assets.
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