Asset Protection can be described as a group of legal techniques that help in protecting a person's property from creditors and judgments. Dale Veitch is an Orlando based extensively experienced professional who started his career in 1984 in the insurance business.

1. Dale Veitch Develops Efficient Asset Protection Solutions For His Clients

2. 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.

3. 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.

4. 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.

5. There are three methods in which asset protection planning can help in protecting an individual’s 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.

6. 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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