Are asset protection plans unethical or illegal?
No. The law provides that residents of California, as well as residents of other states, can hold property titled in many different forms. The law also allows spouses to transfer property between themselves, so long as they follow certain well defined procedures and methods. Holding property titled in one way, as opposed to another, has certain advantages when it comes to asset protection. Agreements to help protect your assets from creditor claims are just taking advantage of the legal rights available to individuals to hold title to property as they chose.
About Richard Houghton
Richard Collins Houghton has been a practicing attorney for over 35 years. For decades, he has worked as an attorney representing business owners and professionals in their family law matters, trying to keep them out of court. Because of his expertise in the area, he has been certified by the California State Bar as a Certified Specialist in Family Law. His practice is focused on drafting agreements to avoid litigation and on working with his clients who have had litigation filed against them to resolve those issues in the most cost effective and successful manner. His office frequently uses alternative dispute resolution resources, as well as the services of retired judges to expedite resolution of cases as quickly as possible.
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