Asset Protection works for one simple reason: It removes the economic incentive for a person, and that person’s attorney, to pursue (SUE) you. It really is that simple. What is not simple is how you go about accomplishing removing the economic incentive.
The best way to protect your assets is to take legal steps to make yourself unattractive to potential predators. Today, sophisticated clients and planners understand this.
To successfully create a plan in which a court will recognize that you no longer have sufficient control of your assets to be forced to recover them in the event of a judgment against you, is difficult to say the least.
This is especially true if you wish to hold on to the control, and beneficial use of those assets. Asset Protection is just that, a delicate balance between your use and control of your assets and a sufficient lack of such control which will be respected by the courts.