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Dwayne B.
Dwayne B., Attorney
Category: Business Law
Satisfied Customers: 33904
Experience:  Practicing for over 20 years and helped a number of businesses with litigation.
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I dont own property and am looking for a easy way to protect

Customer Question

I dont own property and am looking for a easy way to protect my assets (Car and SAvings) from creditors . What is the easiest way to have asset protection for someone who does not own property or a business ?
Submitted: 6 years ago.
Category: Business Law
Expert:  Dwayne B. replied 6 years ago.
Who are you trying to protect them from?
Customer: replied 6 years ago.
I had a heloc from a foreclosure that is now unsecured debt . I am worried they will sue and take my car/ savings.
Expert:  Dwayne B. replied 6 years ago.
In your case the best way to protect it is likely some sort of trust. There are about a zillion different ones to choose from depending on a lot of different facts. You should contact a trusts lawyer and arrange an interview. My guess is that it will be what is known as a spendthrift trust, but even then there are several different ways to organize this to take advantage of protections from creditors and tax implications.

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