From the Attorney’s Desk by Jason Krautkramer, J.D. Eckert & Krautkramer, LLC 630 N 4th St. Wausau, WI 54403 715-842-0907 jason@eckertlawllc.com mailto:jason@eckertlawllc.com Asset Protection Tip #1 Asset protection planning uses legal structures and strategies to safeguard assets from creditors by completely or partially protecting them from a creditor’s reach. This type of planning cannot be done as a quick fix for your existing legal problems. You must put the plan in place before you know about a lawsuit. Under federal law, tax-favored retirement accounts, including 401 (k)s and individual retirement accounts (IRAs), are protected from creditors in bankruptcy (with certain limitations). Therefore, maximizing contributions to your company’s 401(k) plan is not only a smart way to increase your retirement savings but also a safeguard against creditors, predators, and lawsuits. If your company does not offer a 401 (k) plan, consider investing in an IRA for the same reasons. Do not let a lawsuit take away your money and property. Schedule a consultation today. From the Attorney’s Desk by Jason Krautkramer, J.D. Eckert & Krautkramer, LLC 630 N 4th St. Wausau, WI 54403 715-842-0907 jason@eckertlawllc.com mailto:jason@eckertlawllc.com Asset Protection Tip #1 Asset protection planning uses legal structures and strategies to safeguard assets from creditors by completely or partially protecting them from a creditor’s reach. This type of planning cannot be done as a quick fix for your existing legal problems. You must put the plan in place before you know about a lawsuit. Under federal law, tax-favored retirement accounts, including 401 (k)s and individual retirement accounts (IRAs), are protected from creditors in bankruptcy (with certain limitations). Therefore, maximizing contributions to your company’s 401(k) plan is not only a smart way to increase your retirement savings but also a safeguard against creditors, predators, and lawsuits. If your company does not offer a 401 (k) plan, consider investing in an IRA for the same reasons. Do not let a lawsuit take away your money and property. Schedule a consultation today.
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