10 Questions To Ask an Asset Protection Attorney in Washington, D.C.

Finding a capable asset protection attorney in Washington, D.C. is one of the smartest financial decisions you can make. With their help, you can keep your money safe from creditors, ex-spouses, lawsuits, and other threats.

Of course, you only receive the protection you need when you work with an experienced attorney. And to do that, you have to do a lot of research and ask plenty of questions. Thankfully, we’ve put together a list of 10 questions that you can ask a Washington, D.C. asset protection lawyer to see if they’re right for you:

1. How Long Have You Been an Asset Protection Attorney in Washington, D.C.?
2. What Portion of Your Business Is Dedicated To Asset Protection?
3. Do You Have Experience Handling the Types of Assets I Want To Protect?
4. How Do Your Plans Account for D.C. Laws? 
5. How Will Your Plan Protect Me From Lawsuits and Creditors?
6. Do You Provide Ongoing Maintenance for any Asset Protection Structures? If so, at What Cost?
7. Can You Offer Me Educational Materials To Help Me Better Understand the Plan You’ve Crafted?
8. Does Your Firm Offer Federal Tax Compliance Guidance?
9. What Is the Success Rate of Asset Protection Structures You’ve Established?
10. Do You Have Reliable Trustees Working in Offshore Jurisdictions? If so, How Were They Vetted?

1. How Long Have You Been an Asset Protection Attorney in Washington, D.C.?

Experience matters. Only an asset protection attorney who has actively specialized in this field for several years, or preferably more than a decade, is worth engaging. A seasoned asset protection attorney in Washington, D.C. is more likely to know exactly which challenges a wealth defense strategy can face and how to overcome them. Plus, they’ll be familiar with the legal landscape of Washington, D.C. and should understand how to adapt to changing laws and regulations.

2. What Portion of Your Business Is Dedicated To Asset Protection?

Not every lawyer specializes in asset protection. Many of the attorneys who claim to offer this service only spend a small portion of their time working on wealth defense and dedicate a majority of their time to other practice areas. Additionally, a lot of so-called asset protection attorneys only offer estate planning services, which do nothing to defend your wealth against creditors and other threats.

3. Do You Have Experience Handling the Types of Assets I Want To Protect?

Whether your concerns are business ownership, real estate, retirement accounts, or family wealth, it’s critical that your attorney has experience protecting those assets in Washington, D.C. Don’t hesitate to ask about past cases similar to yours and how those went. This ensures you receive customized advice. 

The level of risk is different for everyone, so it’s important to choose a lawyer who understands your profession. Real estate investors can face slip-and-fall and tenant lawsuits.  Doctors deal with malpractice claims. Asset protection requires a detailed understanding of both who you are and what your risks are. 

4. How Do Your Plans Account for D.C. Laws? 

Asset protection laws can vary from place to place. Plans that might work in Nevada may not work in Washington, D.C. or other locations. In fact, Washington, D.C. poses numerous challenges for people seeking asset protection, as it has more complex property and tax laws than most states. A good asset protection attorney in Washington, D.C. should be prepared to tell you how their strategies account for this district’s laws.

5. How Will Your Plan Protect Me From Lawsuits and Creditors?

This is the most important question you need to ask any asset protection attorney, not just those in Washington, D.C. Your potential lawyer should be able to clearly explain what tools they will use to keep your wealth safe and ideally provide real-world examples of how similar structures have benefited their past clients. In general, it’s better to find an attorney or firm that can show you case studies.

6. Do You Provide Ongoing Maintenance for any Asset Protection Structures? If so, at What Cost?

Asset protection strategies require constant upkeep. Laws change, and if your lawyer doesn’t account for shifts in the legal landscape, your property could be exposed to creditors. When speaking to a Washington, D.C. asset protection lawyer, ensure they offer routine review and maintenance of your asset protection plan. If they do, don’t forget to ask about how they bill for this service and how they perform plan updates.

7. Can You Offer Me Educational Materials To Help Me Better Understand the Plan You’ve Crafted?

The best attorneys don’t just expect you to blindly follow their advice. Instead, they’ll offer you educational resources that you can use to better understand what goes into asset protection. Ultimately, the attorney knows that the more information you have, the better you’ll be able to explain your needs. The more clearly you can explain your preferred outcome and the challenges in the way of those results, the easier time your attorney will have crafting a plan that meets your objectives.

8. Does Your Firm Offer Federal Tax Compliance Guidance?

Asset protection and tax concerns go hand-in-hand. A smart Washington, D.C. asset protection lawyer understands that any structure they create must be tax-neutral. This means that the tools used neither reduce nor increase your tax burden. This is especially important in Washington, D.C., which is physically closer to the IRS and various enforcement branches, so breaches tend to set off alarms even faster than usual. Remember, tax violations can come with severe criminal penalties, not just fines, so be very careful to avoid any attorney who touts tax benefits as a key feature of asset protection.  

9. What Is the Success Rate of Asset Protection Structures You’ve Established?

Even if an attorney can tell you all about the complex strategies they use and how they’ll protect you, those claims don’t mean a thing if their track record is one of failure. Ask every attorney how often their asset protection strategies have been challenged in D.C. courts and what the result of those challenges was. If an asset protection plan can stand tall in the face of an unfavorable legal ruling, the person who created it is exactly the kind of asset protection attorney you want to hire.

10. Do You Have Reliable Trustees Working in Offshore Jurisdictions? If so, How Were They Vetted?

Offshore asset protection trusts are the strongest wealth defense tool available and are well-suited for anyone living in Washington, D.C. While some people living in other states, like Nevada or South Dakota, may be able to rely on domestic trusts, D.C. laws prevent these trusts from effectively safeguarding against lawsuits. You need to find an attorney with numerous capable trustees working in top offshore jurisdictions like Nevis and the Cook Islands, as that’s where you’ll most likely need to set up your strategy.

Call Asset Protection Planners for Help Safeguarding Your Wealth in Washington, D.C. 

Searching for a trustworthy asset protection attorney in Washington, D.C. takes a lot of time, effort, and research. By asking lawyers the questions listed in this guide, you can narrow down your list of options to find someone who can capably safeguard your wealth against various threats.

However, you don’t have to go through the time-consuming process of calling lawyers all across town and sitting down for interviews. Instead, you can save time by calling Asset Protection Planners! Our team has been setting up offshore asset protection trusts for people in Washington, D.C. for decades, and not a single one of our Cook Islands Trusts has been breached. 

Don’t waste time sitting down with unqualified attorneys. Contact us today for a free consultation and start defending your hard-earned wealth now. 

Questions To Ask an Asset Protection Attorney in Washington, D.C. FAQ

How can I tell if an asset protection attorney in Washington, D.C. is right for me based on their answers?

When you sit down to speak with an asset protection attorney in Washington, D.C., the way they answer your questions will go a long way toward helping you find out if they’re the right fit for your needs. In general, you should look for someone who answers your questions clearly and thoughtfully, and who doesn’t try to avoid certain questions or steer the conversation away from where you guide it. 

Another aspect of determining if a Washington, D.C. asset protection lawyer is right for you depends on how their history lines up with your particular needs. For example, if you’re a doctor who has a high risk of being sued, an attorney who mentions a time when they protected the assets of a doctor who lost a lawsuit may be a good fit for you. 

Perfect answers aren’t the only useful responses, though. A bad answer to one of your questions that reveals a lack of experience, ethics, or capability is just as valuable. Lawyers who haven’t worked with clients like you in the past, who recommend shady tactics, or who don’t specialize in asset protection are a bad fit. Sitting down to interview them is the best way to learn that they can’t meet your needs, since their marketing initiatives are likely to paint them in a positive light. 

Ultimately, you want to come to the meeting prepared with questions that are relevant to you. By doing so, you can clearly determine if the attorney is capable of helping you or if they’re a better fit for someone else.

Here’s a step-by-step guide to help you determine which asset protection attorney in Washington, D.C. is right for you: 

1. Make a simple list of what you want to protect, such as your home, rental properties, practice, investments, or savings and which threats worry you most, like lawsuits, divorce, or aggressive creditors.​
2. Ask how long the attorney has focused on asset protection in Washington, D.C.
3. Find out what portion of their practice is dedicated to asset protection. If asset protection is only a tiny part of what they do, their skills may be limited.
4. Have them describe how they have protected assets like yours in the past.
5. Inquire about how their plan addresses D.C.-specific laws.
6. Push for a step-by-step explanation of which entities or trusts they would use, where those structures would be based, and how those tools will protect your assets.
7. Ask whether they use offshore asset protection trusts when appropriate.
8. Request information about their track record of defending client assets against judgment creditors.
9. Find out if they offer ongoing maintenance for asset protection plans and what that maintenance process costs and entails. 
10. Ask if they provide tax compliance guidance or coordinate with your tax advisors.
11. Look into whether they provide client-education resources or if they expect you to blindly follow their advice.
12. After the call or consultation, ask yourself: Did their answers make sense? Do you trust their judgment? Do you feel they truly listened and tailored their recommendations to your situation in Washington, D.C.? If you answered yes to all three questions, you’ve likely found a good fit.

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