In an increasingly litigious environment, proactive planning is the only way to ensure your hard-earned wealth remains within your family. Asset protection is the legal process of structuring your finances and property to shield them from potential creditors, lawsuits, and unforeseen financial threats. For residents in affluent areas across Orange and Los Angeles counties, this is a critical component of a comprehensive estate plan.
At the Law Offices of W. Steven Chou, we utilize sophisticated legal entities to build a “fortress” around your assets. With over 25 years of experience, Attorney Steven Chou provides transparent, reliable strategies that allow you to maintain control over your property while significantly reducing its vulnerability to legal claims.
The most important rule of asset protection is to act before a threat exists. Under the California Uniform Voidable Transactions Act, transfers made after a claim has already arisen can be challenged or even reversed by the court.
By implementing these strategies early, you demonstrate that your planning is about long-term stewardship rather than avoiding a specific debt. This “early and documented” approach is what provides the highest level of protection for families in communities like Irvine, San Marino, and Newport Beach.
We match your specific goals with the legal structures best suited to protect your assets. Depending on your professional risks and estate size, we may implement several different entities:
For business owners and real estate investors, a Limited Liability Company (LLC) or a Family Limited Partnership (FLP) can create a vital division between your personal assets and your business risks.
While a standard revocable living trust is excellent for avoiding probate, it does not typically protect assets from your personal creditors. For more robust protection, we may utilize Irrevocable Trusts. Once assets are transferred into an irrevocable trust, they are no longer legally yours, making it extremely difficult for a creditor to lay claim to them.
As of 2026, California homeowners benefit from a significant homestead exemption. This exemption protects a portion of the equity in your primary residence from most creditors. We ensure your estate plan is structured to maximize these state-level protections alongside your private legal entities.
Asset protection often involves complex family dynamics and long-term goals. As a bilingual attorney, W. Steven Chou offers the unique advantage of discussing these advanced strategies in both English and Chinese. This ensures that every stakeholder in your family or business understands the protections being put in place, fostering harmony and clarity across generations.
Whether you are protecting a family business in Cerritos or a primary residence in La Palma, our firm is committed to clear communication and transparent fees. We provide the sophisticated counsel you need without the unnecessary “legalese.”
The best time to protect your assets was yesterday; the next best time is today. By taking action now, you can ensure that your life’s work is preserved for your heirs rather than lost to future litigation.
Is your hard-earned wealth vulnerable to a single lawsuit?
Disclaimer:
The information provided on this website is for general information purposes only. Nothing on this site should be construed as legal advice for any individual or for any situation or case. The information provided is neither intended to create an attorney-client privilege, nor does viewing this website create an attorney-client privilege.