Asset Protection Planning
Protect Your Wealth, Your Work,
and Your Peace of Mind
If you’re a professional or business owner in Rhode Island or Massachusetts, protecting what you’ve built is not optional—it’s essential. Asset protection planning helps shield your personal and business assets from lawsuits, creditors, and financial risks you may not see coming.
At Lambros Law Office, we help clients take proactive steps to limit liability, preserve wealth, and plan for the unexpected. Whether you’re a physician, business owner, landlord, or entrepreneur, we’ll help you create a plan that fits your needs and complies with Rhode Island and Massachusetts law.
Why Asset Protection Matters
Life is unpredictable. A lawsuit, business dispute, professional claim, or personal liability issue can threaten everything you’ve worked hard to earn. Asset protection planning involves legal strategies that reduce your exposure and protect your personal finances—even when things go wrong.
We help clients separate personal and business liabilities, choose the right legal entities for protection, preserve assets through exemptions and trusts, and review insurance coverage to strengthen overall risk management.
The goal is simple: put the right protections in place now so you’re not caught off guard later.
What’s Involved in Asset Protection Planning
1. Exempting Assets Under State and Federal Law
Rhode Island and Massachusetts both protect certain assets from creditor claims, but the rules vary. For example, each state offers different protections for homes, retirement accounts, and life insurance. We’ll help you understand which exemptions apply and how to position your assets for maximum protection.
2. Limiting Personal Liability Through Legal Entities
Operating a business as a sole proprietor can put your personal assets at risk. Forming a properly structured and maintained LLC or corporation can help shield you from personal liability. We’ll help you select and maintain the right business structure for your goals.
3. Transferring Risk with Insurance
Insurance is a key part of any asset protection plan. We’ll help you evaluate whether your current policies—professional liability, umbrella, homeowner’s, or business coverage—offer the right protections and limits. Good coverage helps you absorb unexpected shocks without putting your personal or business finances at risk.
Our Approach
We tailor each asset protection plan to your unique situation. Our work is grounded in practical legal strategies, long-term thinking, and respect for the effort it takes to build wealth in today’s world.
Personalized Legal Guidance – We take time to understand your risks, goals, and industry.
Licensed in RI & MA – We know the state-specific laws and exemptions that apply.
Collaborative Planning – We can work with your financial advisor, CPA, or insurance agent if needed.
Forward-Thinking Strategy – We help you plan for both personal and professional risks.
Frequently asked questions
Asset protection and estate planning often overlap but serve different purposes. Asset protection focuses on shielding your wealth from potential risks during your lifetime—like lawsuits, business liability, or creditor claims. Estate planning, on the other hand, is about ensuring your assets are managed and distributed according to your wishes after death. Trusts can play a role in both: certain types of trusts may help reduce liability exposure, while others are designed to pass assets to heirs efficiently. We help you determine which strategies support both your present protection and long-term legacy goals.
Each state offers specific exemptions. Common protected assets may include primary residences (homestead exemption), retirement accounts, life insurance policies, and certain annuities. We help you review your current holdings and explore whether converting non-exempt assets into exempt ones makes sense.
No. Anyone with a business, professional license, real estate, or significant savings can benefit. The goal is to reduce unnecessary risk and protect what you have—no matter the size.
The best time to plan is before a problem arises. Courts may disregard asset transfers made after a claim or lawsuit begins. Planning in advance helps ensure that strategies are legally sound and effective.
In many cases, yes. A properly formed and maintained legal entity can limit your liability to business assets. But it’s important to keep personal and business finances separate and follow corporate formalities to maintain that protection.
Insurance is a key tool—but not a full solution. Coverage may have limits, exclusions, or gaps. We recommend using insurance alongside legal planning to create a stronger shield against potential claims.
In some cases. While not a substitute for a prenuptial agreement, certain asset protection strategies may reduce exposure in divorce proceedings. Timing and state law matter, so this should be handled carefully.
Get started today
If you’re ready to take control of your financial future, we’re here to help. Whether you want to protect your personal assets, secure your business, or plan ahead for life’s surprises, Lambros Law Office can help you build a smart, legally sound asset protection plan.
Contact us today to schedule a consultation and take the first step toward protecting what matters most.
