Suite 13 | 2950 Breckenridge Lane | Louisville, KY 40220-1462
John H. Ruby & Associates
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Protect Your Louisville Assets

Chances are you worked hard for all that you have acquired in life, which is why is it important to ensure your assets are protected. Whether you are an individual or a business, at John H. Ruby & Associates we have extensive experience helping clients protect their assets from future creditors and civil judgments.

There are some assets, however, which are exempt from creditors, such as:

  • Homestead and burial plot
  • Life insurance proceeds, including group and health insurance
  • Proceeds under an annuity contract
  • IRAs

This list is not exhaustive – we encourage you contact us to learn more about which assets are vulnerable and need to be protected.

Irrevocable Trusts

A trust, generally, holds your property for the benefit of another, the beneficiary. When you place your assets in an irrevocable trust, however, those assets are no longer legally yours. You also cannot change or terminate the trust; only the beneficiary can. Irrevocable trusts may also be an important component of your estate planning.

Asset Protection for Businesses

A Limited Liability Company (LLC) shields business owners from personal liability for the debts of the business. To form an LLC there are certain legal formalities that must be followed. The most important step, however, is filing the articles of organization with the Kentucky Secretary of State. The articles of organization contain:

  • The name of the company
  • A registered office and agent
  • An address for the company
  • A statement setting forth the company’s management structure

There are many other requirements that must be met to legally establish your LLC to ensure proper protection of your assets.

Family Limited Partnerships

A Family Limited Partnership (FLP) is a family-owned investment-producing entity. As a limited partnership, there must be general and limited partners. An FLP protects family assets from creditors and, unlike an irrevocable trust, an FLP may be amended.

Forming an FLP in Kentucky requires an organizational document or agreement that must be provided to the State. Because these documents can have legal ramifications, it is important to seek the advice of knowledgeable counsel.

At John H. Ruby & Associates we will protect your assets as if they were our own. Contact us to schedule your initial consultation, where we can discuss which options are best suited to your needs.

John H. Ruby & Associates is located in Louisvlle, KY and serves clients in and around Eastwood, Masonic Home, Louisville, Glenview, Harrods Creek, Prospect, Pewee Valley, Jefferson County and Oldham County.

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John H. Ruby & Associates
2950 Breckenridge Lane, Suite 13
Louisville, Kentucky, 40220-1462 USA