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I would suggest you protect your non-exempt assets (retirement assets are exempt and depending on the state in which you reside, your homestead
may be entirely or partially exempt...and these can be left in place) into a family limited partnership. Carefully drafted, this converts assets that a creditor would find attractive to go after into a limited partnership interest with no control, no rights other than that of an assignment, no transferability, no marketability, and no right to distributions. The transfer is for fair market value…i.e., you are simply exchanging one asset for another of equal value to you. Thus, the creditor cannot sustain the claim that you violated the Uniform Fraudulent Transfer
Act by transferring assets for less than their fair market value to avoid creditors. And, you maintain control through a general partnership interest that you control. Yet, when complete it essentially is an asset no one wants and thus the creditor is less likely to pursue the debtor. Family limited partnerships must be carefully drafted but they can be a very effective method of asset protection.
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