Asset Protection Planning

For people who have worked hard to accumulate significant business and personal assets, it is indispensable to take stringent measures to protect their estate. Asset protection planning enables you to make informed decisions today to protect you from losing your business and other assets to creditors, tax collectors, lawsuits, or bankruptcies in the future. This estate planning tool is especially important for business owners and professionals, whose assets can be at risk due to the nature of their work.

At the Law Office of Constantine G. Tzamouranis, P.C., we have in-depth knowledge and more than a decade of experience in protecting the assets of our clients from potential threats. We provide personalized legal services and devise risk management and asset protection strategies tailored to suit your circumstances. We work closely with you every step of the way to ensure that your exposure to future liabilities is minimized to the greatest extent possible.

Our Asset Protection Planning Strategies

There are certain individuals that are at an elevated risk and vulnerable to creditor attacks.  Some high-risk professions include surgeons, physicians, CPAs, attorneys, real estate developers and investors, business owners, or anyone else who has a high chance of facing a lawsuit. To reduce the probability of liability and safeguard your assets, Constantine G. Tzamouranis, uses the following techniques:

Domestic Asset Protection Trusts

In most cases, when a person makes a trust for their own benefit, it is exposed to their creditors. However, in a few states, the government allows for self-settled spendthrift trusts which can be used by people living in other states as well, including Illinois, to minimize creditor liability.

Family Limited Partnerships

In Illinois, a limited partnership is a business entity used for asset protection in most cases. On the other hand, a family limited partnership (FLP) is intended to hold investments or a family business. This leaves creditors with fewer, less preferable options when enforcing a judgment against the interests of a limited partner.

Offshore Asset Protection Trusts

One of the most practical strategies for protecting your assets is to move them out of the country, especially when you are facing the restrictions of the US courts. In such cases, offshore asset protection trusts is the best way forward.

At the Law Office of Constantine G. Tzamouranis, P.C., we use a client-oriented approach, and attentively listen to you in order to evaluate your financial situation. We work closely to determine the right strategy to effectively protect your assets and achieve your goals. 

Discuss your case with an Experienced Asset Protection Planning Attorney Today

Protecting your assets from creditors and other entities requires careful planning. To develop a strong, comprehensive asset protection strategy, you should get help of a reliable and experienced attorney sooner rather than later.

To learn more about how attorney, Constantine G. Tzamouranis, can help you safeguard your business and personal assets, contact our law offices today at (708) 873-5300 to schedule an initial consultation. We work with clients throughout the Greater Chicago area