Asset Protection in Belgium
Asset Protection in BelgiumUpdated on Friday 11th September 2015
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Protecting your assets
Asset protection is securing any assets from creditors. Asset planning and asset protection in Belgium are used by companies and individuals to protect their wealth in the event of a lawsuit. By using certain techniques, a creditor’s access to assets can be limited, within the boundaries of the debtor-creditor law.
The best way to make sure that an asset protection plan is suitable for you is to seek the services of a Belgian law firm. A specialist can explain the differences between short and long term financial planning and you can create a plan that is best suited for your financial goals.
Rules for asset protection planning
Perhaps the most important aspect when considering to engage in asset protection is to start early. It is important to know that no asset protection plan will work after you or your company have been sued. Any transfer of assets that starts after a court order has been issued against you will be reversed and you may lose your assets.
Asset protection must be made within the limits of law and business owners in Belgium cannot use asset protection practices to hide, delay or fraud creditors. The experts at our law firm in Belgium can offer you more information about the liabilities of a debtor in case of bankruptcy in Belgium.
Asset protection methods
While some business owners may be inclined to place their personal assets in a business entity, corporations like limited liability companies in Belgium are not meant to act as asset protectors. If a legal claim should arise, a business entity becomes vulnerable in front of the creditor. The best way to protect personal assets remains the method of placing them in a trust. This is a long term method to ensure the protection of valuable assets.
Our Belgian law firm offers complete solutions for asset protection for companies and individuals. Additionally, we can offer services for tax minimization and other issues regarding company management in Belgium. If you want to know more about how you can secure your personal assets, please contact our attorneys in Belgium.