Family Asset Protection

If you or your family is engaged in any profession or business that might expose you to civil liability, it is prudent to explore the options for securing your assets against a catastrophic loss. Generally, business entities such as corporations, partnerships, and limited liability companies are intended for commercial purposes and are not meant to operate as personal expense funds. When you combine personal and business assets, you risk exposing them to creditors and judgment holders.

Plaintiffs and creditors have several tools available to help them recover what they claim they are owed, including federal bankruptcy laws and state laws against fraudulent transfers. Most states, including Mississippi, have adopted the Uniform Fraudulent Transfer Act (Miss. Code Ann. § 15-3-101 to 15-3-121).

An essential piece of any asset protection plan involves having the right insurance. There are many types of insurance available, and there are also many types of exclusions that insurance companies incorporate into their policies to limit the coverage actually provided. Our lawyers have the experience to answer your insurance questions and help you choose the right combination of policies.