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In recent years, Asset Protection has gained acceptance as an important part of estate planning.
There are many methods of asset protection, ranging from simple property characterization to more advanced techniques involving many different types of irrevocable trusts and entities such as limited liability companies (LLC's) and family limited partnerships (FLP's), sometimes in combination.
Even the basic revocable trust should be built with asset protection in mind, for the surviving spouse and the children.
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