Asset protection is extremely important in today’s litigious society. A car accident, professional liability claim, medical crisis, injured tenant, divorce and other lawsuits can expose your assets to judgment creditors. Various planning strategies can be utilized to legally protect your assets from future creditors.
The increased frequency of elder fraud and exploitation also necessitates proper advanced planning, to ensure that your assets are protected in the event of cognitive decline or incapacity.
SageTrust™ Law Group can analyze your situation, and help you to implement asset protection planning strategies ranging from:
- Asset retitling between spouses to utilize tenancy by the entirety (TBE) protection
- Maximizing protection of retirement benefits in ERISA plans (401Ks, etc.) and IRAs
- Review/update umbrella liabiliity insurance coverage
- Formation of holding companies, family LLCs and other business entities to segregate and protect your personal and investment assets
- Revocable trust planning to appoint a trusted fiduciary as successor trustee or co-trustee to monitor and protect your assets from elder fraud
- Dynasty/spendthrift trusts to protect inheritance and family legacy for future generations
- Self-settled asset protection trusts