Gifts can be made to spouses, family members and charities. Legal entities such as corporations and trusts can be used to hold title to assets or operate a business. Such entities are often stacked or tiered creating a layering effect. In some cases, assets are even transferred outside the United States. Certain assets are exempt from creditors both in and out of bankruptcy.
Homesteads are available in most states.
Retirement plans are frequently exempt from attachment by creditors, though this is not guarantied for the future. Of course, the primary goal of asset protection is to legally shield assets from the reach of creditors. Asset protection planning should be a rational process, not an irrational reaction to risk. They must be prioritized with other lifetime goals and objectives. Any plan should be consistent with your lifestyle and manner of operations.