As we are all aware, over the last few decades expanding theories of liability and the proliferation of litigation has given increased emphasis to Asset Protection Planning to the extent that it is now a well recognized area of practice. However, traditional Estate Planning has always encompassed the concepts of asset preservation and protection. Accordingly, all business owners, physicians and other professionals need to be able to integrate our Estate and Business Planning with Asset Protection Planning in order to properly protect their assets.
The steps on the ladder and the levels of of an integrated estate, business and asset protection strategy are as follows:
Level One: The Business Entity Itself
Level Two: Basic Estate Planning
Level Three: Exemptions and Marital Planning
Level Four: Liability Protected Entities for Investment Assets
Level Five: Domestic Modular Planning with Asset Protection Trusts
Level Six: Offshore Modular Planning with Foreign Asset Protection Trusts
Level Seven: Advance Estate Planning Techniques
