Asset Protection

Asset protection is a field that covers many different techniques, including estate tax reduction techniques, trusts, domestic asset protection trusts, and Medicaid trusts.

There are many other ways to protect assets without using a trust, such as putting assets in a spouse’s name. For example, a wife who is not considered “at risk” could hold assets for a physician, CPA, or an attorney.
The technique could also be as simple as using qualified plan assets, such as a 401(k) and a profit sharing plan, which are exempt from bankruptcy proceedings.

Even an IRA is exempt from a bankruptcy proceeding for an account balance up to $1,000,000.

Asset protection also deals with protecting your family assets from the cost of long-term nursing home care. Revocable Medicaid trusts, VA asset protection trusts, commercial and private annuities may be utilized to protect your assets from the cost of long-term care. This type of asset protection is typically part of our long term care planning services. We explain methods by which you can legally preserve your assets and still qualify for Medicaid and Veterans benefits.

Protecting the Family Estate

Many clients want to ensure that the assets they pass down to their children or grandchildren do not go to a spouse in a divorce or go to pay off creditors in a bankruptcy. With proper asset protection planning, you can preserve your legacy for the beneficiaries you choose. Through the use of a trust or an LLC, we can ensure that these assets do not disappear due to divorce, bankruptcy or lawsuits.

You have worked hard for the money you’ve earned and assets you own, and now is the time to properly safeguard and protect those assets from any unfortunate events that may befall you in the future. Please take a minute to explore our site and the various techniques available to you to protect your assets and then contact us to arrange an appointment regarding your particular asset protection planning needs. We are here to protect you and those you love.