Quick Summary

This article explains how to protect assets in Massachusetts through three proven strategies: trusts (domestic and offshore), business entity structures, and retirement account protection with liability insurance. It highlights ways to shield wealth from lawsuits, divorce, and creditor claims while maintaining privacy and preserving property, businesses, and cryptocurrency.

Worried About Losing Your Assets in Massachusetts?  

For many successful entrepreneurs, property owners, and professionals in Massachusetts, the thought of a lawsuit or divorce threatening years of hard-earned wealth is a constant concern. Imagine building a thriving business or investing in real estate, only to face the risk of losing a significant portion of your assets due to legal claims. 

In this Blake Harris Law article, we are going to explain how to protect assets in Massachusetts through three effective strategies that help preserve your property, business interests, and cryptocurrency.

But first…

Why Listen to Us

At Blake Harris Law, we focus exclusively on offshore asset protection, helping hundreds of high-net-worth clients safeguard real estate, businesses, and cryptocurrency. With decades of combined experience and a global network spanning the Cook Islands, Nevis, and Belize, we understand how to protect wealth from legal threats. This perspective allows us to share proven strategies for preserving assets in Massachusetts with clarity and confidence.

Why Asset Protection Matters in Massachusetts

Shield Against Lawsuits

Massachusetts has a litigious environment. Entrepreneurs, property owners, and professionals are often targeted in legal claims. Proper asset protection can limit exposure and preserve your wealth.

Safeguard Against Divorce Claims

Massachusetts follows equitable distribution laws, which can put personal and joint assets at risk during divorce proceedings. Protecting assets helps ensure that your investments, business interests, and property are preserved.

Preserve Business Interests

Business owners may face creditor claims, disputes, or lawsuits that threaten their companies. Asset protection strategies can separate personal and business property to prevent unnecessary losses.

Maintain Financial Privacy

Certain Massachusetts filings and property records are public. Trusts and LLCs can shield your assets from unnecessary attention while remaining fully compliant with state laws.

 

Protect a Wide Range of Assets

Modern asset protection includes not just real estate and cash but also stocks, business interests, and cryptocurrency. Planning ensures all forms of wealth are covered under a comprehensive strategy.

3 Ways to Protect Your Massachusetts Assets 

1. Trust Arrangements (Offshore & Domestic)

For high-net-worth individuals in Massachusetts, offshore trusts provide the strongest level of asset protection. Established in jurisdictions such as the Cook Islands, Belize, or Nevis, these trusts offer:

  • Strong legal barriers: Foreign courts are not bound by U.S. judgments.
  • Trustee independence: Trustees operate under local laws outside the United States.
  • Confidentiality: Assets are kept out of public record, enhancing financial privacy.

When structured legally and ethically, offshore trusts comply with U.S. tax and reporting laws while preserving wealth, shielding assets from litigation, and supporting estate planning goals.

Domestic trust options are also available to Massachusetts residents, though they generally provide a lower level of protection. Two commonly used structures are:

  • Irrevocable Trusts: Assets are legally owned by the trust, not the individual, making them harder for creditors or litigants to reach.
  • Spendthrift Provisions: These provisions prevent a beneficiary’s creditors from accessing trust assets, helping protect family wealth.

Massachusetts does not allow Domestic Asset Protection Trusts (DAPTs), but one can be established in another state that recognizes them. Transfers must comply with Massachusetts law, be timed carefully, and trustees must follow strict fiduciary duties.

At Blake Harris Law, we guide clients through both domestic and offshore trust strategies, including crypto asset protection, to deliver comprehensive solutions tailored to your needs.

See our guide on how to choose an asset protection attorney.

2. Business Entity Structures

Separating personal assets from business liabilities is essential for anyone with significant wealth. Forming a legal entity in Massachusetts, such as a Limited Liability Company (LLC) or corporation, creates a protective barrier between you and potential claims arising from business activities. 

  • Limited Liability Companies (LLCs): An LLC separates personal assets from business liabilities, helping protect personal wealth in case of business-related lawsuits.
  • Family Limited Partnerships (FLPs): FLPs allow for asset transfer to heirs while retaining control and providing protection from creditors.

Proper maintenance is critical. Entities should have separate bank accounts, accurate records, follow corporate formalities, and comply with annual reporting and fee requirements.

For those seeking an extra layer of protection, Blake Harris Law also assists in forming Nevis LLCs, a trusted offshore structure that can complement domestic entities and strengthen overall asset protection strategies.

3. Retirement Account Protection and Liability Insurance

Two of the most practical ways to protect wealth in Massachusetts are through retirement accounts and liability insurance.

a. Retirement Accounts

Federal law and Massachusetts statutes provide strong protection for qualified plans. Employer-sponsored 401(k)s and 403(b)s are safeguarded under ERISA, while IRAs, both traditional and Roth, are shielded up to substantial limits under state law. 

Contributions also grow tax-deferred or tax-free, making these accounts a valuable combination of savings and protection. Inherited IRAs, however, may receive reduced protection depending on the circumstances.

b. Liability Insurance

Insurance serves as a first line of defense against lawsuits. High-net-worth individuals should consider umbrella liability policies, professional liability coverage, and Directors and Officers (D&O) insurance if serving on boards. These policies can absorb legal costs and judgments before personal assets are exposed.

Together, retirement accounts and liability insurance form a strong foundation for wealth preservation. While they do not replace comprehensive asset protection planning, they complement legal structures such as trusts and LLCs to create a balanced strategy.

Protect Your Massachusetts Assets with Blake Harris Law

Protecting your assets in Massachusetts requires a strategic approach, combining legal structures like irrevocable trusts, LLCs, and offshore trusts with practical steps like insurance coverage. 

At Blake Harris Law, we specialize in crafting tailored asset protection strategies for high-net-worth individuals and businesses. Our services, including the creation of Cook Islands Trusts, Belize Trusts, and Nevis LLCs, are designed to shield your wealth from lawsuits, creditor claims, and even divorce settlements. With our in-depth knowledge of Massachusetts laws and years of experience, we can guide you through every step of the process. 

Schedule a private consultation today to discuss how we can help.