Asset protection planning must be done in advance of a creditor’s claim ripening. Transferring assets after a creditor’s claim has become ripe, or at a point where there is a probability of the claim being successfully prosecuted, can lead to a claim of creditor fraud. Creditor fraud can result in the asset protection transaction being reversed.

Asset protection planning comes in all shapes and sizes. There is no «boilerplate» strategy that works for everyone. In general, asset protection planning involves transferring assets to others for value, transferring assets as a gift, or re-titling assets.