Understanding How an Asset Protection Attorney Can Help Your Business
Whether you are starting a start-up, running the family business or are considering leaving your full-time job to embark on a new career of entrepreneurialism, having a good business and asset protection plan in place is essential. If you have never considered asset protection or business planning in the past, here is what you should know.
How should you structure your business? Is your current structure ideal for your needs and circumstances, or are there better options? What are the tax implications of forming an LLC, partnership or corporation? Determining the answers to these questions is essential if you want to give your business the best chance at success and growth.
A business plan is something you develop after looking at a variety of options. Depending on your personal goals, business environment and the legal options available to you, your plan might be nothing like the business plan of your competitors.
An asset protection plan is a collection of legal tools that shield you, and your business, from as much liability as possible. Without the proper asset protection plan in place, business difficulties could lead to serious consequences for you and your family. In the worst-case scenario, someone who sues your business could end up taking personal and family assets in order to satisfy a judgment against you.
No two asset protection plans are identical, and each must meet the individual needs of the business, the business owners and business environment. The asset protection tool you might need could be very different than those used by colleagues or people you know.
Regardless of your individual circumstances, your asset protection plan will look at the most likely risks you and your business will face, then develop tools that will help shield you from liability. A good plan will not only protect you and your property, but will also protect your business and give you peace of mind of knowing that, should something bad happen, you won’t be left out in the cold.
Individualized Yuma, Arizona, Asset Protection and Business Planning Advice
Knowing what asset protection steps you need to take and how you need to plan your business is usually something that most people are capable of doing on their own. Deason Garner & Hansen Law Firm has years of experience helping our clients manage their business needs, develop comprehensive asset protection plans and providing them the ongoing support they need as their businesses, and lives, grow and change.
If you haven’t already done so, you need to contact our office at (928) 783-4575 immediately to schedule an appointment with our attorneys, Shawn D. Garner or Adam D. Hansen, and come talk to us about your asset protection and business planning options in Yuma, Arizona. We offer FREE consultations to be sure you are confident with the planning options available, and have a clear next step to have the proper business protections in place.