Have you heard the phrase “closing the barn door after the horse has already left”?
Current economic conditions have people scrambling to put asset protection strategies in place.
They may be attempting to close the barn door too late…
Fraudulent transfer laws are in place which typically have a four year statute of limitations or thereabouts. They KNOW that people in trouble will try to “hide” their assets and they want to make it hard to do so.
These laws have mechanisms in place to reverse or set aside any transfer or conversion that was made within the statutory period. These laws will nullify transactions that are meant to put assets out of the reach of creditors
If you wait until you are concerned about a claim on your assets, your interest in asset protection is simply too late. The horse has left the barn already.
I hope your horse is still in the barn…
In that case, it makes sense to educate yourself about asset protection AND CLOSE THAT BARN DOOR.. .