Your Local Attorney vs Asset Protection-Only Attorneys

Asset protection is now more popular than ever, as a buzz phrase at least.  It’s very easy for estate planning or even corporate or small business attorneys to bill themselves as asset protection lawyers and tack on “asset protection” as one of the services they offer.  However, the reality is that very few lawyers have any substantive experience in asset protection.  The reason for this is the fact that a local attorney will have relatively few opportunities to create asset protection plans for clients.  By “asset protection plans,” I mean strategies that can truly shield assets from unknown future lawsuits or creditors, including the use of international asset protection trust, when necessary.  I don’t mean the simple creation of limited liability companies or S-corporations.

Local Asset Protection Counsel

A minority of the 300 million people living in the United States have need for asset protection.  Suppose that 5% of the population should consider and implement asset protection planning.  (Do you need asset protection?)  From experience, I can tell you that number is about right.  That means if a local attorney actually creates and implements asset protection plans for clients who need it, then asset protection will only make up about 5% of her or his law practice.  Taking it further, if a local attorney takes on 100 new clients per year (a huge number), that attorney would only perform asset protection for 5 clients in a year.  That’s not very much asset protection work, and it doesn’t create a lot of incentive for local attorneys to stay abreast of asset protection laws.

The most experienced Asset Protection Attorneys

Now consider our level of experience as Asset Protection attorneys.  The attorneys at Lodmell & Lodmell only practice asset protection law, having done so since 1997.  One of our founding partners has been a licensed attorney since 1969, and worked through the birth of “Asset Protection” as an individual area of legal practice.  Our firm represents clients from coast to coast.  We have to because only about 5% of the population needs asset protection, therefore we need more clients than are available in any one city or state.  We do nothing but think about, create, and implement asset protection plans.  We know and study the current laws and jurisdictions, and stay abreast of changing laws to immediately consider how they affect planning.  What all this means is that we work to be the best in our field and not just to cushion our bottom line.  That benefits you.  Think about it.

Would you prefer to trust your hard-earned assets to an attorney who creates a handful of asset protection plans per year to make some extra revenue, or attorneys who have dedicated their careers to asset protection and created thousands of asset protection plans?