Common methods to achieve a level of asset protection incorporate the use of corporations, trusts, or family limited partnerships. Other methods may be unique to particular federal or state law, where retirement plans, annuities, jointly owned property with a spouse, or homestead property may offer a degree of asset protection if appropriate in your circumstances.

Asset protection considerations, however, need to be viewed in the context of an overall plan. Title to assets will generally determine the level of protection that exists, but the title will commonly also determine who inherits the property, how the property will be managed in the event of death or incapacity, and the level of tax exposure that will exist. Therefore, careful thought and consideration of many issues must be undertaken when implementing an asset protection plan.