Ten rules for asset protection planning

Asset protection planning is a highly technical area of legal planning. Because of the fraudulent transfer laws, asset protection planning must be done in advance of any claim, be technically sound, not rely upon secrecy, and avoid any number of critical mistakes including keeping personal and business assets separate. Physicians who engage in asset protection planning must avoid critical mistakes, and not count on bankruptcy to provide relief from creditors. General rules and cautions for those who are considering the creation of an asset protection plan for their personal assets.