For Pennsylvania residents, it can take years to accumulate assets and increase the value of your business and investments. Unfortunately, without an asset protection plan, you could lose everything or a significant portion of what you have worked so hard to achieve both for yourself and your family. And, when a child or grandchild inherits assets from you will they be safe from litigation or claims from divorce? Creditors pursuing business claims or individuals looking to file a lawsuit against you can put your assets at risk, even while you are preparing to enjoy them. However, there are many techniques available to protect your assets and it is not a task you should try to do yourself. Each person has a different risk tolerance and different asset protection profile. That is why you need a knowledgeable Pennsylvania attorney with experience in the areas of asset protection who can help ensure that your sophisticated asset protection plan is done correctly and that it works when you most need it. Contact David M. Frees, III, Attorney at Law, at (610) 933-8069 for expert legal assistance. David Frees teaches Pennsylvania consumers and attorneys how to incorporate asset protection planning into their estate plans.
Some individuals are at a greater risk of being involved in a lawsuit, depending on their occupations or net worth. However, anyone, including you, can be sued, whether it is for damages related to business conduct or a product or service, a claim related to an auto accident or an injury that occurred on your property. According to a study conducted by the Pacific Research Institute, Pennsylvania has very high litigation risks and monetary tort losses in comparison to the rest of the nation. Asset protection provides additional security for you and your heirs against lawsuits, divorce claims, creditors and exposure to personal or business liability. If a proper asset protection plan is put in place, potential creditors are often deterred from filing a claim and even if they do, it can be very difficult for them to seize your assets or collect judgments against you.
Sophisticated asset protection is a vital component of estate planning and may include setting up trusts, creating partnerships, corporations, and limited liability companies and implementing other successful strategies. There are many tactics available when it comes to protecting your assets and if done correctly these methods can also help minimize your tax liability and that of your heirs. David Frees is an experienced Pennsylvania asset protection lawyer who can discuss your available options, which may include, but are not limited to the following:
- Administering Estates in Chester County, Montgomery County and Suburban Philadelphia
- Avoiding or Dealing with Probate in Pennsylvania
- Pennsylvania Estate Planning with Wills, Trusts, and Related Tools and Strategies
- Divorce Protection in Your Estate Plan for Your Heirs, Children and Grandchildren
- Grantor Retained Annuity Trusts (GRAT) for Pennylvania Residents
- Qualified Terminable Interest Property (QTIP) in Pennsylvania
- Irrevocable Life Insurance Trust (ILIT)
- Qualified Personal Residence Trust (QPRT or QPERT)
- Beneficiary Controlled Trusts to protect your heirs
- Asset Protective Trusts In Pennsylvania and other states and jurisdictions
Mr. Frees is a partner of Unruh, Turner, Burke & Frees, P.C. and Chairman of the Wealth Preservation Section of the firm. He has helped thousands of clients during his 23 years of practicing law and has written numerous articles and books on such topics as, The Language of Parenting: Building Great Family Relationships At All Ages, Einstein’s Business Dream, Inc., The Ultimate Success Secret, The Language of Leadership, Asset Protection 101, The Ten Most Common Errors Executors Make and How To Avoid Them and Beneficiary Controlled Trusts – Protecting The Next Generation.
In addition, he has authored over ten years of articles covering such issues as family vacation homes, perpetuating family businesses and perpetuating executive wealth and has created informative programs including, Avoiding the Ten Top Mistakes of Executors.
Based on his extensive experience, David Frees has developed a proprietary process titled, Enhanced Estate Planning™, which offers parents and grandparents the opportunity to protect assets from claims, carefully and strategically plan their estates, educate the next generation and provide ongoing advice and information to their heirs through technology and messages they create now to be delivered when appropriate.
Contact David Frees today at (610) 933-8069 for information regarding sophisticated asset protection. Mr. Frees also works with a team of lawyers who can help you with corporate and business organizational matters.
David Frees represents thousands of clients in Philadelphia, Chester County, Montgomery County, Delaware County and Lancaster County and many clients from communities such as, Berwyn, Devon, Paoli, Exton, Phoenixville, West Chester, Malvern, Chester Springs, Ardmore, Gladwyn and surrounding areas.