Many people are concerned about protecting their hard earned assets. While asset transfers are somewhat limited by the Fraudulent Conveyances Act, there are a number of things you can do to protect your assets so long as you avoid outright fraud.
- First, you can give up to $10,000,000 as lifetime gifts ($20,000,000 for married couples).
- Second, you can create Trusts to add another layer of obstacles to creditors.
- Third, you can transfer assets to a foreign jurisdiction that protects against creditors.
- Fourth, you can consider your options under the U.S. Bankruptcy Act.
- Fifth, by early planning you can successfully guard your assets against creditors.