Covering your assets: keeping the creditor wolves away

Sound financial planning that provides for family and retirement are promoted by law. As long as the techniques discussed above are not motivated by a desire to hinder or defraud creditors, a spouse, or others, they may be a valuable part of an overall estate plan. If used during a time of pending claims or insolvency, they will be suspect (at best). Even the act of dropping malpractice insurance coverage might be viewed as an act of pre-planning to hinder creditors and arguably a fraudulent transfer. The development of a plan will depend on the individual's needs, goals, and circumstances, and require careful thought and the advice of professionals.