Asset Protection Planning

You have worked hard throughout your life to build up your estate, so it is important to do everything you can to protect what you have earned. Part of any good estate plan is going to be evaluation of your exposure to creditor liabilities or litigation risks. There are many different threats to your assets, and planning for all of them can be difficult. Our team can help by analyzing your particular situation and taking steps to protect your family from the most likely risk that may present itself.

 

Asset Protection Strategies

Asset protection strategies involve analyzing your exposure and coming up with the best plan to minimize loss of assets, when done properly, we’ll find the right balance between protecting your assets and still having them available to you when they are needed. We’ll also help ensure that these strategies can be updated over time to keep them in line with  your needs.

 

When to Start with Asset Protection

Asset protection should go hand in hand with your overall estate planning. As you get older and your exposure risk increases, there will be more and more options available for protecting the assets you own. Once your initial estate plan and asset protection strategies are in place, you should make sure they are updated every few years.

 

Your Partner in Asset Protection

You don’t have to try to handle your asset protection strategy on your own. We’ve helped many people from New York and New Jersey with this type of effort, and we would be honored to help you as well. Whether you are just starting a business, graduating into a highly litigious profession, or entering retirement, we are here for you. Please contact us at 212-596-7039 to speak with one of our estate planning and asset protection specialists today.

 

Marital planning

Getting married is an exciting and romantic time of your life. If you feel that prenuptial agreement may ruin that “amour” status of your relationship, it may be possible to accomplish your marital planning using trusts.

 

If your children are about to get married and you know that they will not listen to your advice of getting a prenuptial agreement (or they will listen to satisfy your demand but then they will nullify the agreement anyway), protect them and your family assets using trusts.

 

Planning for your children

If your children are about to graduate into litigious profession, protect them by creating a trust for them that will never be subject to any creditor’s claims.  If your children are about to get married and you know that they will not listen to your advice of getting a prenuptial agreement (or they will listen to satisfy your demand but then they will nullify the agreement anyway), protect them and your family assets using trusts.

 

If you children may be subject to harassment or influence by a cult or a sect, protect them by creating a trust for them that will never be reachable by any individuals or organizations who obtained fraudulent access to your child’s assets.

 

If you believe that you child may be an alcoholic or a drug addict or a gambler, protect them by creating trust for them that will never be subject to any creditor’s claims.

 

Planning for family members with special needs

 

If you have a chronically disabled family member, partner or friend help take care of them in such a way that will not put them at a disadvantage by losing government benefits. You can create a third-party special needs trust that will ensure that your loved one is taken care of but, at the same time, does not loose access to important  government programs. Such trusts san be created during lifetime or at death.

 

Charitable Planning

 

Business Succession Planning

Our policy is to communicate clearly, concisely, and on a timely basis. To be responsive to clients. If we can’t take your call immediately, you can expect that a telephone message left in the morning.