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asset protection (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. WK. Safeguarding one's wealth against those who may have claims against it (creditors or former spouse, for example), often by converting it into an offshore asset-protection trust and thus keeping it out of the jurisdiction of local courts. • I needed some asset protection because people might want to take claim over my money and get it for themselves. • When invested in a marriage in which finances are particularly one-sided, people often seek asset protection through the medium of offshore accounts. • You should do your best to have good asset protection so that you can be sure that it always keeps its value. Read more:  businessdictionary.com Alexander Demidov) |
