When is the ideal time to begin planning for protecting my assets?

The optimal time to commence planning for safeguarding your assets is when the circumstances are favorable. It is exceedingly challenging, if not outright impossible, to engage in asset protection planning once a creditor emerges. It is crucial to note that a creditor’s presence does not necessarily imply the filing of a lawsuit. A creditor may arise immediately following an accident or after the occurrence of an event that confers liability rights. Therefore, it is highly advisable to initiate asset protection planning now, in the absence of any potential creditors, as any transfers made subsequent to the emergence of a creditor could be deemed a fraudulent transfer and subsequently invalidated by a court.