Yesterday I attended the Second Annual Ohio Asset Protection and Legacy Trust Institute. The Institute was a full day continuing legal education program of the Ohio State Bar Association. It was sponsored by a trust company and several major banks, as well as a large accounting firm. It was presented via live simulcast at seven locations throughout Ohio. One of the speakers who provided introductory remarks was an Ohio state senator.
I mention all of this because it shows how “mainstream” asset protection is becoming. That is, Ohio and many other states have various laws that specifically allow both businesses and individuals to protect their assets. Yet there are many businesses and individuals who fail to take advantage of what the law allows them to do.
Recent changes to Ohio law (particularly the new Ohio Legacy Trust Statute and changes to the LLC statute) make Ohio an excellent state for asset protection. So this is an excellent time for anyone concerned about protecting their individual or business assets to at least consider some of the alternatives that are currently available.