Dale Veitch Develops Efficient Asset Protection Solutions

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Dale Veitch Develops Efficient Asset Protection
Solutions For His Clients
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Asset Protection can be described as a group of
legal techniques that help in protecting a
person's property from creditors and judgments.
An asset protection plan serves as a valuable
tool that helps in protecting business as well as
personal assets. It is considered an important
part of the overall wealth management plan and is
mainly designed to ensure that the wealth
accumulated by an individual, remains his. It is
formulated to protect the assets from suits and
creditors.
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Asset protection planning refers to the process
whereby legal methods are used for organizing
affairs, assets as well as business structures
when no legal actions are pending, threatened, or
expected, with the goals of protecting the assets
against any loss in the event of any given risk.
And, secondly, while decreasing the possibility
of being the target of a law suit or any other
legal action that would require the person to
spend time and money, and also put his emotional
well-being at risk.
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Asset protection planning thus, involves finding
out and utilizing a lawful series of techniques
that can help in protecting your assets from
claims of future creditors. It is highly
important to draft an efficient and comprehensive
asset protection plan as it helps in deterring
litigation and removing the economic incentive to
sue the debtor, placing the power back in his/her
hands, despite the ability of the creditor to
fund an expensive litigation. Besides, a well
designed asset protection plan also provides
individuals with increased options to face any
possible risks during the future.
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There are three methods in which asset protection
planning can help in protecting an individuals
assets. Firstly, through divestiture whereby an
individual transfers his/her holdings to another,
either by outright transfer or by having liens or
mortgages placed upon the asset. The second
method includes exemption planning, under which
the debtor transfers the assets to a statutorily
protected class of assets like life insurance, or
an IRA. Under the third method of protecting
assets, liability-shielding entities like
corporations, LLCs and trust are used.
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Dale Veitch is an Orlando based extensively
experienced professional who started his career
in 1984 in the insurance business. He initiated
Lexington Family Office Services in 2002 and
since then, has been serving the firm as the
CEO/Chief Family Strategist of this multifamily
office business. Prior to serving Lexington
Family Office Services, Dale Veitch has also
worked for Central Insurance Underwriters and
Metropolitan Life Insurance Company.
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