Beautyman Associates - For the Hospital

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To protect your assets from creditors, consider the following approaches:

Own property as "tenants by entireties" with your spouse, provided your spouse will not be a debtor to the same creditor and is not involved in your practice.
Make gifts to family members or others, but retain no control over the property.
Create a family limited partnership. Where minors are involved, create a limited partnership interest owned by a domestic trust or foreign corporation.
Create a family limited partnership coupled with an asset protection trust with either a domestic or foreign situs, but you should not serve as trustee of the trust.
Use foreign situs or offshore trust under the laws of the Bahamas, Bermuda, or the Cayman Islands.