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Protection of Personal Assets

Arizona Personal Asset Protection Attorneys

As a business owner, proactive personal asset protection may be essential to protecting your hard-earned assets against situations and events beyond your control. At Law Offices of Donald W. Hudspeth P.C., we have the business savvy and legal experience to evaluate the risks you face and the best methods for legal asset protection. Without submitting to unnecessary pessimism or hardship, you can still protect your most valuable assets from creditors and lawsuits.

Determine the risks

If you own a small business, does the corporate, company, or partnership structure put you at undue risk of paying for the mistakes of others? What sorts of lawsuits are most likely to result from the type of business you run? Is your business especially risky, like a whitewater rafting or skydiving concern? If your business regularly invites customers onto your premises, are the premises currently safe and regularly maintained? Is your business at undue risk of insolvency if one or two key customers go into bankruptcy or chose another provider?

The Arizona personal asset protection lawyers at Law Offices of Donald W. Hudspeth P.C. will help you evaluate all of the risks created by your business type and business structure, and take cost-effective steps to minimize them while keeping your business healthy and growing.

Protect yourself from risks you cannot avoid

Every Arizona asset protection attorney knows that some risks are simply unavoidable: no amount of careful planning on your part will prevent a key client from going bankrupt or a clumsy customer from tripping and suing. But you can take steps to prevent all of your hard-earned assets from disappearing.

  • If you run a sole proprietorship, general partnership, or limited partnership, consider reorganizing your business as a limited liability company, limited liability partnership, or corporation. The limited liability and corporate structures prevent creditors and plaintiffs from successfully pursuing your personal assets in almost all circumstances.
  • If you do not own a home, consider buying a moderately-priced home. Arizona allows debtors to retain $150,000 of equity in their home if they declare bankruptcy. If you buy a reasonably-priced home, or do not pay off your mortgage or home equity loan in full in order to keep your equity in your home at $150,000 or below, your home will not become available to creditors if your sole proprietorship or general partnership goes into bankruptcy.
  • For other or larger properties or accounts, consider transferring assets to someone you trust. Creditors and successful plaintiffs cannot take what does not belong to you—consider transferring assets to your spouse or to your children before any problems arise.
  • Depending on the risks your business creates, consider increasing your insurance coverage to cover more or all of a court award or settlement if you are sued.
  • Finally, speak to an Arizona personal assets protection attorney about the possibility of creating an irrevocable trust or a LLC to shield your assets against all eventualities.

Asset protection is one of our most popular practice areas, but like estate planning, it needs to be done before you need it. Once you have notice of a lawsuit or legal claim any transfer of assets, even for an otherwise legitimate purpose, may be challenged as a fraudulent transfer and make a bad situation worse.

Work with a business-minded attorney who knows personal assets

The Phoenix business lawyers at Law Offices of Donald W. Hudspeth P.C. know business law inside and out and can help forecast liability and insolvency risks that face your industry generally and you specifically. Our Phoenix business law firm can help you protect your personal assets in Arizona from business-generated risks, leaving you free to concentrate on running your business and living your life.

Contact us at 602-265-7997, toll free at 866-696-2033 or email us online today to arrange an initial consultation with an expert Arizona personal assets lawyer.

At Law Offices of Donald W. Hudspeth P.C., we do more than connect the dots—we create the dots.

What others are saying about us
  • ""I would recommend Mr. Hudspeth unequivocally. Not only is he an outstanding business attorney, he also provided me with access to a divorce attorney. Thanks to his skill, and resources available outside the Phoenix law family, I was successful in challenging a “family law” mediation that was particularly and grossly unfair."" - Chandler, Arizona Private Individual

  • ""Thank you for the work you have done in creating these documents. It is always a pleasure dealing with this firm!"" - J. P.

  • "“An excellent response. Masterfully prepared. Thank you.”" - El Paso, Texas Real Estate Investor

Donald W. Hudspeth Attorney Photo
Donald W. Hudspeth
Principal Attorney

Attorney Donald W. Hudspeth has more than twenty years’ experience practicing corporate and business law. Before attending law school, Mr. Hudspeth held a stock brokers license at the age of 21 and owned his own business at the age of 23. He was a business law professor at Arizona State University, West Campus, and has conducted classes and seminars for a number of higher institutions and organizations. Mr. Hudspeth has published two books on law and is the founder of the radio programs Law on the Edge and Law Talk.

Brian K. Stanley Attorney Photo
Brian K. Stanley
Of Counsel

Attorney Brian K. Stanley has more than thirty years' experience practicing corporate and business law. Brian also worked for Sandra Day O'Connor in 1976-1977; Formerly with the Phoenix firm of Jones, Hunter & Lerch as of the dissolution of that firm in 1979. (Also Member, Law Office of Brian K. Stanley, PLLC).

Janae Ashley Perry-Meier Attorney Photo
Janae Ashley Perry-Meier
Associate

Janae Perry-Meier is a business and commercial law attorney focusing on international business. Janae handles both transactional and litigation matters, including: forming your business, drafting your contracts, franchising, business disputes, business divorce, mergers and acquisitions, private placements, securities compliance, and corporate governance. Janae also handles trademark registration, office action responses, and infringement cases.

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Michael David Malin
Associate

Michael Malin has been a practicing attorney in Arizona since 2013. He has represented clients through all stages of litigation. Prior to joining the firm, Michael litigated cases involving professional negligence, insurance bad faith, dram shop liability, personal injury and wrongful death, Indian law, probate, and criminal matters. Before attending law school, he worked for several startup companies in the then-nascent field of smartphone and tablet application development.

Natalia Beard-Artemieva  Attorney Photo
Natalia Beard-Artemieva
Attorney

Natalia (Natasha) Beard-Artemieva has been a practicing attorney in Arizona since 2014.

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