Asset protection planning is the employment of techniques to shelter, protect, or limit the exposure of your assets from lawsuit creditors, being subject to division in divorce or being lost to the expense of long-term care.
Our attorney will carefully put together a plan that serves your best interests, which may include limiting the amount of assets you have at risk, ensuring that your spouse has income and making sure you have a legacy to leave to your heirs.
In terms of planning for long-term care, you may benefit from working with an attorney if:
- You want to preserve assets for family members
- You may need Medicaid benefits for long-term care
- You do not have long-term care insurance
Because everyone’s situation is unique, asset protection strategies are never “one size fits all.” Some conditions that impact your planning include whether you are married, single, or a military Veteran; the make-up, location and disposition of your family members; as well as your wealth and composition of your wealth.