Create a plan to protect you against potential risks and liabilities. Shield your wealth from future creditors, lawsuits, and unforeseen financial challenges.
Mitigate the impact of unexpected events. Reduce the likelihood of loss or depletion due to legal disputes, economic downturns, or market volatility.
Fortify your finances and preserve your hard-earned assets for future generations. Secure your loved ones’ financial well-being for years to come.
Are Your Assets at Risk?
Family business owners and other high-net-worth individuals face myriad risks that can threaten their financial security and prosperity. These risks extend beyond economic downturns and encompass a range of personal and business-related challenges.
Creditors, Lawsuits, and Legal Liabilities
Business and personal assets can be exposed to creditors, lawsuits, and other legal liabilities without proper protection. Family business owners, in particular, may face additional risks related to business debts, contractual obligations, and potential litigation. Failure to address these risks can result in significant financial loss and undermine your financial well-being.
Succession Planning
Many high-net-worth individuals and business owners neglect to establish comprehensive estate plans, leaving their assets vulnerable to probate, taxes, and family disputes. Without proper planning, transferring wealth from one generation to the next may lead to complications and legal challenges, jeopardizing your intended legacy and the financial security of your heirs.
Given the many risks facing high-net-worth individuals and successful business owners, reducing risk whenever possible is essential. A Scottsdale asset protection attorney with Sorrell Estate and Probate can do precisely that by implementing proactive risk management strategies.
Sorrell Estate and Probate is a trusted asset protection firm offering comprehensive legal strategies tailored to each client’s unique needs and objectives. From high-net-worth individuals to successful business owners, we provide personalized attention and dedicated advocacy to protect our clients’ financial interests.
With a focus on personalized service and strategic planning, we work to ensure that our clients receive the highest level of representation and achieve the best possible outcomes. You deserve a law firm that will prioritize your financial security and peace of mind. With our expertise and dedication, we’ll help safeguard your wealth and assets for decades to come.
Meet Whitney, Scottsdale Asset Protection Attorney
Scottsdale asset protection attorney Whitney Sorrell brings a unique blend of experience in tax and estate planning law and a client-focused approach. With years of experience in estate planning and asset preservation, Whitney has a proven track record of safeguarding his clients’ wealth.
JD, MBA, LLM (Tax)
Certified Public Accountant
Former IRS Agent
30+ Years of Experience
Common Legal Structures used for Asset Protection
Your attorney will have in-depth knowledge of many of the structures clients use to protect their business and personal assets. These include the following:
Domestic LLCs (Limited Liability Companies)
LLCs provide limited liability protection to their owners, shielding personal assets from business liabilities, offering flexibility in management and taxation while safeguarding assets from creditors.
Limited Partnerships
Limited partnerships consist of general partners who manage the business and limited partners who contribute capital but have limited liability. They offer asset protection for limited partners while allowing them to benefit from the business’s profits.
IRA Trusts
IRA Trusts are estate planning tools that allow individuals to protect their retirement savings from creditors and ensure that funds are distributed according to their wishes. They provide control over distributions and provide asset protection for beneficiaries.
Special Needs Trusts
Special Needs Trusts are designed to protect assets for individuals with disabilities while preserving eligibility for government benefits, providing for the beneficiary’s needs without jeopardizing their access to essential services.
Irrevocable Life Insurance Trusts (ILITs)
ILITs hold life insurance policies outside of the insured’s estate, providing tax benefits and asset protection. They ensure that life insurance proceeds are distributed according to the trust terms, shielding them from estate taxes and creditors.
Children’s Trusts
Children’s Trusts hold assets for the benefit of minor children until they reach adulthood. They offer asset protection for the beneficiaries while allowing the grantor to control the distribution of assets over time.
Foreign LLCs (Limited Liability Companies)
Foreign LLCs are established in jurisdictions outside the United States to provide additional asset protection and tax benefits. They offer privacy and legal advantages not available domestically.
When you work with our Scottsdale asset protection attorney, you can count on us to provide comprehensive protection for your wealth and personal assets. The following is a high-level overview of what to expect when you partner with us for your wealth preservation needs:
Plan Design
This stage involves careful curation of legal structures tailored to your specific goals and objectives. We’ll analyze your financial situation and identify the most effective strategies to shield your assets from potential risks and liabilities.
Plan Implementation
We establish trusts and business entities with proper documentation and IRS filings to formalize the asset protection plan. This step ensures that the legal framework is in place to safeguard the client’s assets effectively.
Plan Funding
We reorganize the title to your assets to align with the objectives outlined in the asset protection plan. This stage may include transferring ownership of assets to trusts or business entities for added protection.
Ongoing Review & Advisory Services
Finally, we coordinate with your CPA and financial planner to facilitate the proper flow of funds and ensure the integrity of the asset protection plan over time. By regularly reviewing and adjusting the plan as needed, we help you maintain optimal protection for your wealth and assets.
Why Choose Us Over Other Scottsdale Asset Protection Attorneys?
Expertise in Asset Protection Strategies
We have the knowledge and expertise to navigate complex legal issues and help protect your wealth. Our commitment to staying updated on the latest legal developments and innovative strategies sets us apart, ensuring that our clients receive the most effective and up-to-date asset protection solutions.
A Proactive Approach to Asset Preservation
We identify potential risks and vulnerabilities before they arise. Our attorneys work closely with clients to assess their financial situation, understand their goals and objectives, and develop proactive strategies to mitigate risk.
Holistic Financial Planning
We consider all aspects of our clients’ financial lives to develop integrated solutions that align with their overall goals. Whether it’s coordinating with financial advisors, accountants, or other professionals, we ensure that our clients’ asset protection strategies complement their broader planning goals.
Client-Centered Representation
We strive to make our clients feel supported and informed at every step of the process. Our attorneys take the time to listen to clients’ concerns, answer their questions, and provide personalized guidance and support.
Disclaimer: Photographs contain actors to protect client confidentiality.
Be advised that every case is unique, and past results do not guarantee a favorable outcome.
Additional references provided upon request.
“GOOD LEGAL ADVICE PAYS FOR ITSELF”
“When my business bloomed to over 340 employees and $3 million in revenue, I hired Whitney Sorrell to reorganize my assets and protect my wealth. Six years later when the market crashed I found myself defending against lawsuits and judgments. After handing my business planning documents to my creditors, they never called again. Like Whitney says, good legal advice pays for itself!”
High Net Worth = High Exposure.
Without proper asset protection strategies in place, your hard-earned wealth could be at risk from creditors, lawsuits, and other legal threats. The financial uncertainty can be overwhelming, leaving you feeling vulnerable and exposed.
Restructuring your wealth into smart asset protection structures could be just the solution you need.
Call (480) 447-2653 to request a consultation today. We will assess your unique circumstances, identify potential risks, and develop personalized strategies to safeguard your assets effectively.