National Minority Business Alliance

This is a subject that is somewhat confusing to most people, and we want to educate and dispell some of the mystery that surrounds it. Asset protection planning is the process of organizing one’s assets and affairs in advance so as to safeguard against risks to which the assets would otherwise be subject. The phrase “in advance” warrants strong emphasis. One who is planning to protect assets must be cautious and avoid the negative implications that may follow if there are creditors who are entitled to remedies under applicable fraudulent transfer and similar laws. Asset protection planning principles can be applied to protect any type of asset, including an operating business or a professional practice.

There is no one asset protection planning tool or technique that universally protects all of a client’s assets, so a plan needs to involve a mix of the various tools and techniques available to the planner. Probably the most important part of any asset protection plan is having the right verbiage in the documentation that sets up the protection. This is the area where most plans fail. Done properly a typical business could see a fifty percent (50%), or greater, tax savings.

The NMBA has put together one of the strongest programs available today that will assist in protecting assets, as well as aiding in cutting taxes. We do this by putting together the plan; and also by providing the correct filing paperwork, with the most precise legal verbiage to be filed with the government.