Asset protection (sometimes also referred to as debtor-creditor law) is a set of legal techniques and a body of statutory and common law dealing with protecting assets of individuals and business entities from civil money judgments. The goal of all asset protection planning is to insulate assets from claims of creditors without concealment or tax evasion.
Read more about Asset Protection: Overview, United States Legislation, History
Famous quotes containing the words asset and/or protection:
“When ... did the word “temperament” come into fashion with us?... whatever it stands for, it long since became a great social asset for women, and a great social excuse for men. Perhaps it came in when we discovered that artists were human beings.”
—Katharine Fullerton Gerould (1879–1944)
“The best protection parents can have against the nightmare of a daycare arrangement where someone might hurt their child is to choose a place that encourages parents to drop in at any time and that facilitates communication among parents using the program. If parents are free to drop in and if they exercise this right, it is not likely that adults in that place are behaving in ways that harm children.”
—Gwen Morgan (20th century)