WHAT IS ASSET PROTECTION?
Asset protection is financial planning designed to legally protect your assets from private creditors, government entities and even family members.
WHAT TYPE OF ASSET PROTECTION DOES THE LEVIN LAW GROUP OFFER?
Asset Protection can involve any combination of the following:
- Creation of Irrevocable Trusts to protect assets from creditors,
- Creation of Medicaid Trusts and Qualified Investment Trusts to protect assets from Medicaid Penalties and to qualify for Medicaid,
- Creation of Entities to limit personal exposure to foreseen or unforeseen events,
- Transfer of Real Estate and other Assets to trusts, entities and other individuals, and
- Creation of Prenuptial Agreements to protect an individual’s assets prior to marriage.
DO I NEED AN ATTORNEY FOR ANY OF THE ABOVE LEGAL DOCUMENTS
Legally, no. However, in order for any of the above to be legally valid, the documents have to follow the exact specifications of the law. Failure to follow the exact legal requirements could result in disputes and legal challenges. It could also result in the documents being completely voided.
Is the relatively small amount of money you may save worth the risk of not having your assets properly protected?