Book Appointment Now


Asset Protection

If you’re searching Google for an “Arizona asset protection lawyer near me” then you’ve arrived at the right place. Skabelund is considered to be one of the premier asset preservation law firms in Arizona with lawyers ready to assist residents of Phoenix, Tucson, Sedona, Scottsdale, Flagstaff, Mesa, and all other localities in the Grand Canyon State.  

The Arizona asset protection lawyers with Skabelund understand that building wealth takes hard work, strategic planning, and risk. Maintaining that wealth and growing it is a responsibility to oneself, one’s family, and even more importantly, the generations to come. Our team of asset protection lawyers in Arizona have a reputation for collaborating with clients on custom-designed plans aimed at reducing liability and exposure in an effort to secure your financial legacy. In effect, if you are looking for asset protection in Arizona, Skabelund stands ready to help.

Protect Your Wealth

John Skabelund has been recognized as one of America’s top 1% percent lawyers. Book an appointment now.

Book Appointment Now

Who We Serve

The asset protection lawyers with Skabelund proudly serve clients across the state, whether in Phoenix, Scottsdale, Paradise Valley, Grand Canyon Village, Maricopa, Sedona and beyond. Our team of asset preservation lawyers routinely work with leaders who’ve enjoyed success in various fields, including:

  • Entrepreneurs
  • Executives of Fortune 500 companies
  • Professionals working in the financial services sector
  • Small Business Owners and Family Business Owners
  • Business professionals including real estate, including developers, builders, contractors, and investors
  • Physicians
  • Professional athletes 

Why Choose Skabelund as Your Arizona Asset Protection Law Firm?

When searching for “asset protection lawyers near me” in Google or Bing, make sure to focus your search on finding a reputable and experienced Arizona asset protection lawyer. For example, John Skabelund – the founder of the firm – has been recognized as one of America’s top 1% percent lawyers and is a highly respected and knowledgeable asset protection lawyer in Arizona. By way of a 10+ year career in one of Arizona’s largest equity firms, he has developed a deep background in law and finance. He leverages that experience to craft asset protection plans that are custom-tailored for each individual client.

Overview of Asset Protection in Arizona

While conducting a search for “asset protection attorneys near me” try to find an Arizona asset protection lawyer who possesses an in-depth understanding of the nuances of asset protection. For context, asset protection comprises the legal and financial strategies used to secure assets – property, businesses, cash, financial instruments and investments — from claims made by creditors. Creditors are not just debt collectors; they also engage in litigation. Common life issues such as car accidents, personal injury and longer-term health problems can leave your assets vulnerable to creditors and hospitals.

That said, working with a thoughtful and visionary asset protection attorney in Arizona can help you “wall off” assets from creditors, while preserving your lifestyle. Finding the right mix can be challenging, but it’s a challenge we welcome by the Arizona asset protections attorneys with Skabelund.

Types Of Asset Protection

There are several common types of asset protection techniques that our team of Arizona asset protection lawyers can employ on your behalf to protect your wealth and minimize risk exposure. Common asset protection strategies include:

  • Domestic asset trust protection (DAPT)
  • Foreign asset trust protection (FAPT) or offshore asset protection
  • Bridge Trusts™, which are irrevocable trusts that combine the strength of a purely foreign APT. Bridge Trusts™ protect your assets while still making them available to you.
  • Limited liability entities (LLCs, LPs, FLPs, etc.)
  • Insurance policies

Assets Shielded By State Or Federal Exemption Laws

In addition to proactively deploying innovative asset protection strategies, the experienced and knowledgeable asset preservation lawyers with Skabelund will make sure to analyze Arizona laws currently on the books that exempt specific types of property, or a portion of your property’s value. Here are some examples of relevant asset protection/exemption laws in Arizona:

  • Homestead – $150,000 of the equity in a homestead is protected.
  • Personal items – A myriad of personal items could be exempt, though there are specific dollar value limits that need to be analyzed.
  • Household items: electronics, furniture, appliances valued up to $6,000, and so forth.
  • Certain income and judgments

DAPT: How Does It Work?

One commonly used asset protection tool is the creation of a domestic asset protection trust (DAPT). DAPTs allow individuals in Scottsdale, Tempe, Phoenix, and elsewhere in Arizona to transfer assets into an irrevocable trust while retaining some control or  beneficial interest. This can shield assets from potential creditors under many circumstances.

In addition, the DAPT may be combined with an LLC and, if drafted and timed properly, could enable the grantor of the DAPT to designate themselves as the beneficiary. As a result they could be able to receive discretionary distributions from the DAPT. Furthermore, those distributions may also be outside the reach of creditors and claimants.

However, there are some important limitations associated with DAPTs you should be aware of. As mentioned, the bedrock of a DAPT is an irrevocable trust, which means once a grantor creates the trust, they cannot reverse it, or undo it. For example, a grantor is prohibited from establishing a DAPT for the sole purpose of defeating a claim filed by a specific creditor. This means if you already received notice of a claim, it is likely too late to establish a DAPT and transfer assets. Once notice of a claim has been issued, in many cases establishing a DAPT would be considered a fraudulent transfer. Therefore, it’s recommended that Arizona residents take the proactive step of creating the DAPT now prior to an event the trust is intended to guard against. 

How a Limited Liability Entity Can Protect Your Assets

An effective asset protection strategy frequently deploys limited liability entities, such as limited liability companies (LLCs) or limited partnerships (LPs). By structuring ownership of assets through these entities, individuals can separate their personal assets from business or investment assets, limiting personal liability.

Additionally, insurance policies, including life insurance and liability insurance, can serve as asset protection tools by providing financial protection in the event of unexpected events or claims.

Consider an Asset Protection Trust

A strategy our team of Arizona asset preservation lawyers routinely utilize to benefit clients is establishing an asset protection trust. Basically, an asset protection trust involves creating an irrevocable trust designed to provide a legal wall of separation between your personal property and assets maintained in the trust. This legal wall is vitally important since it acts as a proverbial shield protecting the trust assets from creditors and claimants. In effect, an asset protection trust can help protect you from creditors, lawsuits, or judgments against your estate.

Get In Touch With an Arizona Asset Protection Attorney Today

Our team of asset preservation attorneys in Arizona possess extensive experience handling asset protection and estate matters. We understand the importance of preserving and safeguarding your hard-earned assets, and are dedicated to providing personalized strategies tailored to your specific needs. Our founding attorney, John Skabelund – a renowned Arizona asset preservation attorney – has owned successful real estate and consulting firms, which provides us an insider perspective to asset protection. We will ensure your custom plan aligns with your circumstances and goals.

Our team of asset protection attorneys in Arizona have successfully handled estates worth upwards of $100 million and offer years of experience in the field. Our personalized approach, combined with our in-depth knowledge of Arizona asset protection laws, allows us to provide effective and tailored solutions to safeguard your wealth. Whether you reside in Phoenix, Tucson, Sedona, Scottsdale, Flagstaff, Mesa, Tempe, Yuma, Prescott, and all other localities in the Copper State, the Skabelund team can help. 

Skabelund has office locations in Tempe and Scottsdale. Our Tempe office is located on East Southern Avenue near the Tempe History Museum. Our Scottsdale office is located on 17015 North Scottsdale Road near the TPC Scottsdale Champions Golf Course. 

Frequently Asked Questions

What Is a Bridge Trust™?

The Bridge Trust™ takes all the asset protection advantages of an Irrevocable Trust and then builds on it, by offering clients’ greater access to their money and potential tax advantages. These often involve offshore accounts.

Why Is an LLP Stronger Than an LLC?

The differences between a Limited Liability Partnership (LLP) and an LLC generally revolve around what level of involvement a business owner will have in the day-to-day operations of the enterprise. If an owner will have a limited management role, the LLP setup allows them reduced liability.

How Do I Protect My House?

The most straightforward way to protect one’s residence from creditors is to put the property in an Irrevocable Trust. Once five years have passed, the family home has protection. Whether the straightforward plan is the best plan will depend on the specific situation of each client.

What Are the Most Common Mistakes in Asset Protection?

When it comes to asset protection, mistakes are made when firms rely too much on a single, out-of-the-box solution and not enough to a broad-based plan. One example might be relying too heavily on Medicare for long-term health needs. A blanket transfer of wealth to children while still living is another. The best asset protection plans can use these strategies, but in the right proportion.

Are LLCs Bullet Proof?

Bulletproof is an overstatement. A Limited Liability Corporation is a business structure that allows for some level of security, and it can certainly be part of a good estate plan. But silver bullet solutions don’t exist and should never be promised. Creative protection plans with real, multi-faceted depth are what we aim to provide our clients.

Take the Next Step in Preserving your Legacy

A lot of things go into asset protection and estate planning, but for us it’s all about one thing: legacy. The desire to see what one has built preserved and passed down to future generations. It’s about family, and our goal is to help you grow, preserve, and protect that family legacy. Here are some of our clients' most common questions:

How do I choose an asset protection lawyer?

The best place to start is by asking what kind of work and what kind of clients the asset protection lawyer has worked with before. At Skabelund, we believe we have something compelling to offer clients because of our track record working with high net-worth clients, including those with portfolios of $100 million. When we talk about the need to think outside the box and be strategic, we’re doing so from the posture of having done it before, many times over.

How do I protect my house?

The most straightforward way to protect one’s residence from creditors is to put the property in an Irrevocable Trust. Once five years have passed, the family home has protection. Whether the straightforward plan is the best plan will depend on the specific situation of each client.

Why Do I Need A Custom Tailored Plan?

Each person and each business is unique, with goals, plans, and concerns unlike anyone else's. A cookie-cutter template will only include the basics that are common to everyone. That almost certainly means client-specific issues get ignored—omissions that can be expensive if the right (or wrong) circumstances develop.

Book Appointment Now

What Our Clients Say About Us

"Responsive and Diligent"

John Skabelund was highly recommended to me by my accountant and I could not be more pleased! They have coordinated together to help me set up my relevant business and personal entities and assets in such a professional way that I feel confident moving forward. John is very responsive and diligent in his approach to my needs. I will happily work with him in the future.

Brian le SolarBee

"Christina and her assistant Kristi were amazing!"

Christina and her assistant Kristi were amazing! It took me a long time to get my husband in to get our affairs in order…even he admitted it was a fairly easy process and he’s glad we did it. I feel so much better knowing our wishes are now written down for our family and things will be taken care of in the event something should ever happen to us.

Lynn Kent

"A Breath of Fresh Air"

John and his firm are top notch in both knowledge and service excellence! I have enjoyed working with him in collaboration on several of my CPA client's situations. His process is straightforward and transparent. What he is doing for the industry is simply a breath of fresh air!

Adam Ripperdan

"They listened to what I had to say and then followed through"

I received excellent service from this company. They listened to what I had to say and then followed through with my wishes. My trust turned out exactly how I wanted it. I am very pleased.

Alison Stanford

"John and his team are great to work with"

I highly recommend Skabelund PLLC. John and his team are great to work with. Quick responses to our questions and very helpful when we asked for guidance. If you're looking for a new lawyer, this is your place!

Maryann Schaller

Ready to start your consultation?

Skabelund isn’t just there to draft the estate plan. As important as that is, we know that life changes, goals evolve, and the estate and business plan must adjust appropriately.

We meet with our clients on an annual basis and offer a subscription program for those who would benefit from even more frequent counsel. We’re there for clients in the event litigation arises. We’re with you for the long haul.

Book Appointment Now