Asset Protection Planning
Asset Protection StrategiesAsset 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 ProtectionAsset 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. Do not wait for creditors to show at your door. It is too late to do planning then.
Your Partner in Asset ProtectionYou don’t have to try to handle your asset protection strategy on your own. We’ve helped many people from New York 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.
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 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 needsIf 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 lose access to important government programs. Such trusts can be created during lifetime or at death.