Asset Protection Attorney Can Help:
Successful people know that preserving wealth is sometimes more difficult than creating it. The risk exposure of your assets is largely determined by financial and managerial decisions, but it can also be affected by legal risks you and your loved ones might be exposed to.
Originally developed for professionals, business owners, and investors, asset protection services are now just as important for ordinary people seeking to preserve the wealth accumulated during their productive life. Widespread use of personal guaranties by banks and creditors has created overwhelming personal exposure for most business owners and investors. Several factors have increased the need for proper asset protection planning, including professional and personal liability, frequent abuses of the legal system, and aggressive tactics employed by unscrupulous creditors and other third parties.
A proper asset protection analysis will evaluate present solvency issues and identify the best legal structure for allocating and holding your assets, using multiple tools and techniques available under law. Unfortunately, there are common misconceptions about the security of home equity, 401k, IRA, and 529 plans, insurance and annuity products, trusts, joint checking accounts, and various other assets and investment vehicles. For that reason, it is crucial to understand the risks associated with holding or transferring your assets without proper planning.
While it is important to consider which assets can be placed beyond the reach of creditors, it is also critical to understand whether the assets will be afforded the same protections when transferred to your beneficiaries as a part of your estate.
At Milvidskiy Law Group P.C., our attorneys will assess the risks and help you with development and implementation of a comprehensive asset protection plan. We will show you how to protect your business, your property, and your personal assets for you and your loved ones.
How to Plan Your Funeral
Thinking about your funeral may not be fun, but planning ahead can be exceedingly helpful for your family. It both lets [...]
Estate Planning in the Digital Age
What happens to my Facebook photos after I die? Can I pass on my iTunes music library to my children? Can [...]
Digital Estate Planning for the 21st Century
The need for digital estate planning is fairly new, but it’s a significant and growing issue. From ownership of digital assets [...]
Estate Planning is for the Living – Asset Management for Every Circumstance
Once upon a time, estate planning revolved largely around disposition of assets after your death. This was most often managed through [...]
Avoid the Most Significant Real Estate Investment Risk
When you hear that real estate investment can be risky, the first thing that comes to mind is probably the possibility [...]
Asset Protection for Beneficiaries and Heirs
Often, people think about asset protection simply as a way to minimize risk during their lifetimes, separating risk management from estate [...]
What is Asset Protection?
For many people, the term “asset protection” brings to mind safes and alarm systems. Though physically protecting your valuables is important, [...]
HUD Makes Reverse Mortgages a Little Less Attractive
The Department of Housing and Urban Development (HUD) has announced changes to the federal reverse mortgage program. Citing the need to [...]