• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

Parman & Easterday

Oklahoma Estate Planning Attorneys

Call Now: (405) 843-6100
(913) 385-9400

Attend a Webinar - OK Attend a Webinar - KS/MO
  • Home
  • Our Firm
    • About Our Firm
    • Attorney and Staff Profiles
    • What Our Clients Say
  • Estate Planning
    • Asset Protection
    • Estate and Gift Tax Figures
    • Estate Planning Services
    • Family-Owned Businesses & Farms
    • Financial Planning Assistance
    • IRA and Retirement Planning
    • Legacy Planning
    • LGBTQ Estate Planning
    • Pet Planning
    • Powers of Attorney
    • Probate
    • SECURE Act
    • Special Needs Planning
    • Trust Administration and Probate
    • Young Families
  • Elder Law
    • Coping With Alzheimer’s
    • Elder Law
    • Emergency Medicaid
    • Guardianship & Conservatorship
    • Hospice Care
    • Medicaid Planning
    • Veteran’s Benefits
  • Resources
    • Asset Protection Worksheet
    • DocuBank
    • Elder Law
      • Elder Law & Medicaid Definitions
      • Elder Law Reports
      • Elder Law Resources
        • Edmond Elder Law
        • Oklahoma City Elder Law
        • Overland Park Elder Law
        • Yukon Elder Law
      • Medicaid
      • Nursing Home Resources
    • Estate Planning
      • Estate Planning Checkup
      • Estate Planning Definitions
      • Estate Planning Reports
        • Advanced Estate Planning
        • Basic Estate Planning
        • Estate Planning for Niches
        • Trust Administration
      • Incapacity Planning Definitions
      • Is Your Estate Plan Outdated?
      • Top 10 Estate and Legacy Planning Techniques
    • Free Estate Planning Worksheet
    • Free Seminars
    • Frequently Asked Questions
      • Estate Planning
      • Elder Law
      • Frequently Asked Questions for Families Without an Estate Plan
      • Legacy Wealth Planning
      • LGBTQ Estate Planning
      • Probate
      • Trust Administration
      • Trust Administration & Probate
      • Wills and Trusts
    • Newsletters
    • Probate and Trust Administration
      • Bereavement Resources
      • How to Know if You Need Extra Help With Your Grieving
      • Loss of a Loved One
      • Probate Checklist
      • The Mourner’s Bill of Rights
      • Things You Need To Do When a Loved One Passes Away With a Trust
      • Things You Need To Do When a Loved One Passes Away With a Will
      • Trust Administration & Probate Definitions
    • Probate Resources
      • Leawood Probate
      • Midwest City Probate
      • Moore Probate
      • Oklahoma City Probate
      • Overland Park Probate
    • Published Books
    • Pre Consultation Form
  • Communities We Serve
    • Kansas
      • Johnson County
        • Fairway
        • Mission
        • Overland Park
        • Prairie Village
        • Shawnee
      • Wyandotte County
    • Oklahoma
      • Edmond
      • Midwest City
      • Moore
      • Norman
      • Oklahoma City
      • Yukon
  • Reviews
    • Our Reviews
    • Review Us
  • BLOG
  • Contact Us
Home » Estate Planning » Asset Protection & Business Planning

Asset Protection & Business Planning

Building a business or amassing a substantial nest egg can both change your own life and the lives of future generations. If you have a company or have substantial assets, you need to take steps to protect what you have built. If you are just getting started, you need to get advice on operating your business smartly and taking the right money steps to grow your assets and build wealth.

Parman & Easterday can help. Whether you are just making plan to open the doors of a new company, getting started on saving for the future, or have an established organization or millions of dollars in the bank, we can provide advice and solutions that are designed to meet your needs.

Our legal team has decades of collective experience with both asset protection and business planning for clients in Oklahoma City, OK and Kansas City, KS. We can bring our knowledge to the table to provide personalized advice to you, and we can also provide answers to questions you may have including:

  • Who needs asset protection and business planning services?
  • What is involved with business planning or asset protection?
  • How can an Oklahoma City business planning and asset protection lawyer help you?

Who Needs Asset Protection and Business Planning Services?

Everyone who is planning on starting a business needs to make a plan to protect and grow the company; to protect personal assets; and to eventually secure the transfer of the company to new owners.  

Many businesses do not succeed, but this is often because there was not a solid plan in place to grow and thrive. Other companies do become a success, but are not able to survive a change in ownership. With the right legal help, you can build a strong foundation to maximize the chances your company will provide for you and for future generations.

Business owners, as well as anyone with income or assets, may also need help with asset protection. Your property and possessions are at risk of loss from many different causes, from expensive nursing home bills to estate taxes to a future divorce or the bankruptcy of heirs whom you leave your property to. With the right legal guidance, you can identify risks and protect your assets so the wealth you work for can provide security to you and to those who you love.

What is Involved with Business Planning or Asset Protection?

Asset protection and business planning can be complicated processes and the processes must be personalized based on what type of business you run, what your assets are, and what risks you are most likely to face. In general, however, the asset protection and business planning process may involve:

  • Incorporation of a business to protect personal assets and to make it easier for ownership shares of your business to transfer to new owners.
  • The use of trusts to structure ownership of assets and of business shares so the company and assets are protected in case of bankruptcy, divorce, or irresponsible heirs.
  • A power of attorney or living trust to make sure that you have chosen someone to actively manage the investments or to control your company if you become incapacitated.
  • The use of legal tools designed to reduce or avoid estate taxes so no assets or property will need to be sold to pay the IRS upon your death.

There are also other steps which may need to be taken, such as creating trusts to ensure you do not have to spend down assets if you go into a nursing home or creating a buy/sell agreement so you have control over what happens when co-owners of your business wish to leave. Only by getting personalized advice can you identify the legal tools you need to use to protect what you have built.

How can a Kansas City Asset Protection & Business Planning Lawyer Help You?

Parman & Easterday provides extensive assistance to clients to help with protecting assets and with building a business that can serve as a legacy. With our legal advice and the assistance we offer in making smart choices over the course of your life, you can leave something behind which will change the future of your family forever.

If you live in or around Oklahoma City, OK or Kansas City, KS, our legal team is here and ready to help you today with the asset protection and business planning process. We take our responsibility seriously and we will work with you to both define and achieve your goals for making a strong business and amassing a nest egg you can be proud of. Give us a call today at (405)-843-6100 in Oklahoma City or 913-385-9400 in Kansas to find out more. You can also contact us online today to speak with a member of our legal team.

Primary Sidebar

Parman & Easterday, LLP

DOWNLOAD OUR FREE ESTATE PLANNING CHECKLIST

There's a lot that goes into setting up a comprehensive estate plan, but with our FREE worksheet, you'll be one step closer to getting yourself and your family on the path to a secure and happy future.

Upcoming Seminars

    To be notified of our upcoming Seminars please fill out this form!
See all seminars

Follow Us

  • Facebook
  • LinkedIn
  • Twitter
  • YouTube

Where We Are

OKLAHOMA CITY, OK
13913 Quail Pointe Drive, Suite B
Oklahoma City, OK 73134
Phone: (405) 843-6100
Fax: (405) 917-7018
parman_sidbr_map

Where We Are

OVERLAND PARK, KS
10740 Nall Avenue, Suite 160
Overland Park, KS 66211
Phone: (913) 385-9400
Fax: (913) 385-9422
parman_sidbr1_map

Office Hours

Monday9:00 AM - 5:30 PM
Tuesday9:00 AM - 5:30 PM
Wednesday9:00 AM - 5:30 PM
Thursday9:00 AM - 5:30 PM
Friday9:00 AM - 5:30 PM

Footer

footer-logo

The information on this Oklahoma and Kansas Attorneys & Lawyers / Law Firm website is for general information purposes only. Nothing on this or associated pages, documents, comments, answers, emails, or other communications should be taken as legal advice for any individual case or situation. This information on this website is not intended to create, and receipt or viewing of this information does not constitute, an attorney-client relationship.

Privacy Policy | Contact Us | Disclaimer | Site Map | Powered by American Academy of Estate Planning Attorneys


© 2021 American Academy of Estate Planning Attorneys, Inc.
  • Facebook
  • LinkedIn
  • Twitter
  • YouTube