FAMILY & BUSINESS PROTECTION PLANNING For most of our clients, a concern of utmost importance is protecting and preserving their assets for themselves as well as their children and grandchildren.  We assist you, your family and your business if you have one, by using a variety of estate and planning strategies that will preserve and/or protect your present and future wealth from involuntary transfers to others. Our typical clients are: Parents who are worried about children/grandchildren either squandering their inheritance through substance abuse issues, losing it in a messy divorce, or by being sued; Folks – usually parents - who have made personal guaranties for the debts of friends/relatives; Individuals who are starting a new business, or selling an existing business (one of the most common lawsuits filed are those by disappointed purchasers of businesses who are unable to reap the same rewards as the previous owner and, rather than taking the blame for the failure of the business on themselves, instead sue the prior business owner for “misrepresentation” etc.); Doctors and other “high risk” professionals who do not have adequate insurance (doctors, dentists etc.); Owners of several properties e.g. apartment buildings; Spouses in a second marriage who are worried about the habits/actions of their new spouse affecting their own share of the marital assets and who want to ensure that their assets will ultimately pass to their children Typical domestic strategies which we use include: The establishment of legal entities to provide a shield against claims such as limited liability companies (“LLCs”); The establishment of trust (and revision of existing trusts) to limit access by heirs (and their creditors) if lawsuits, spendthrift issues may present themselves in the future; The use of federal and state exemptions from creditors claims (such as pension plans, private retirement plans), The use of non-California trusts established and administered under the laws of states such as Nevada, Alaska, Delaware among others; Assistance with the establishment of foreign trusts. We at the Law Offices of Patrick McNally consider that the preservation of assets for the benefit is a crucial element of estate planning.  As part of designing your estate plan, we can review and identify areas of potential vulnerability for you, your spouse, your family and your business and advise on how best to protect your wealth for now as well as for future generations.