Asset protection planning involves determining and applying a lawful series of actions that protects your assets from claims of future creditors. The techniques are designed to prevent potential creditors from taking hold of your assets or collecting judgments against you. In cases where significant sums are involved, asset protection planning often includes setting up a series of trusts and/or partnerships allowing you to hold legal title to your assets.

There is a very sharp dividing line between "legal" asset protection planning and actions taken to defraud creditors, which are criminal. For that reason, it is essential to have an experienced attorney guide you through the process.