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In the olden days before asset protection advisers came along, the most convenient way a person had to preserve his wealth was to simply transfer assets to the names of family members, spouses, and friends. That kind of simplistic approach may have worked decades ago, but in the kind of litigious climate that exists today, it would be nearly impossible for you to consider protecting your assets simply by transferring them into another person’s name.

Imagine for instance, that you’re a doctor being sued by a patient for medical malpractice. It wouldn’t take his or her attorney more than a couple of hours to find out the minutest detail about every piece of property or any other asset that you own. A little more groundwork and some investigation, and the attorney will also be able to find out how many assets you have transferred into the names of your personal friends, family members or relatives. Don’t be complacent if you manage to transfer assets into a distant relative’s name. A crafty investigator and a persistent medical malpractice attorney will dig as deep as it takes to track your assets right back to you.

In other words, simply transferring assets into the names of your spouses, family members or friends, does not work as asset protection anymore. In fact, something like this may likely be used against you if the lawsuit goes to trial. It can come out before a jury or judge, that you transferred assets into other people’s names, purely to avoid creditors or plaintiffs from getting to them. Suffice to say, that doesn’t make a great impression on a jury. It will be hard to convince any judge or jury that your intention in transferring the assets was simply to protect them, and not to conceal them from creditors.

The bottom line is that transferring assets to the names of family members and friends offers no asset protection benefits at all. You will need a more structured system to preserve your wealth.

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Pashmina Lalchandani

CEO & Co-Founder, Bar & Cocoa / Owner, Flow Simple
December 9, 2010, Douglass was a client of Pashmina’s

I’ve known Doug in many contexts, as a friend, as a client and as a business partner and he impresses me on all levels. He’s dependable, smart, generous and I wouldn’t hesitate recommending him and his law firm to anyone.
He’s the best and most ethical lawyers providing asset protection with rock solid strategies to give you peace of mind about your wealth. Straight forward, and straight talk. Doug is exactly the lawyer I want on my side. If I send someone to Doug, I know they’ll thank me for it!

Social & Solar Entrepreneur, Pan Afrikan Theorist, Translator/Interpreter,
Founder & Visionary Leader @ Afrikanpride.
March 12, 2011, Marlon E. D. J. worked with Douglass but at different companies

Doug is one of the most powerful thinker i have came across. During the short time that i have known Doug he has been a great source of inspiration. He has a simplistic yet effective and accurate way to analyze anything you bring to his attention, and then by asking you key questions he gets you to see the light at the end of the tunnel. Besides being extremely bright, he is a genuine and caring individual which is why I feel fortunate to know him. I can say without a doubt that he his the person you would want to talk to if you were in need of a person with his expertise.
Most of the lawyers out there will probably meet your needs, but if you are looking for someone to exceed your expectations and give you that wow factor, look no more he is the person for the job.

Patricia Salter

Associate Dentist at Smileology
December 1, 2010, Patricia was a client of Douglass’

I have been a client of Douglas Lodmell’s since 2001. My main concern was asset protection in this litigious society. I can sleep alot better at night knowing I have the instruments in place to protect the fruits of my labor, and that they will not end up in the hands of a slick trial attorney.

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