Jacob Stein specializes in structuring the ownership of your assets to make it difficult, or even impossible, for others to take them away. Creditors, plaintiffs, unhappy business partners, state and federal agencies - all can threaten those assets. Our asset protection planning can reduce, or even eliminate, those threats long before they appear. Our clients tell us that the peace of mind that asset protection brings is priceless.
There is nothing as daunting as the wrath of a government agency. Government agencies operate with unlimited budgets, are stuffed with zealous bureaucrats and usually presume guilt of the person or entity being investigated. We have represented many clients who were investigated, audited, or sued by the Federal Trade Commission, the Food and Drug Administration, the Securities and Exchange Commission, Customs and Border Protection, the Internal Revenue Service, and countless state agencies. We have even represented clients facing inquiries and investigations by the various committees of the U.S. Senate and Congress.
Some government agencies possess powers of seizure and are able to freeze assets. The FTC is a good example of an agency that not only has such powers but eagerly exercises such powers. Recently we saw a client investigated by the FTC. Upon launching an investigation, the FTC froze the bank accounts of the business and of the principals who own the business. Weeks later the investigation was concluded and no wrongdoing was found. In the meantime, our client was unable to pay its employees and vendors and had to declare bankruptcy. Because all accounts were frozen, the client could not even hire lawyers to represent itself before the FTC.
We make it our business to know how aggressive each government agency will be and what steps they will take to collect or seize our client’s assets. We act swiftly to move assets beyond the jurisdiction of the agency in question and to move assets into structures that can withstand a significant attack.