Throughout your life, you work hard to earn money, buy property, and build upon your legacy. Asset Protection Planning allows you to create legal documents that focus on asset protection so that you can safeguard what you’ve worked so hard to accrue. Unfortunately, several problems can occur upon your passing, and it’s easy for someone or something to threaten your assets. When estate planning, it’s vital to recognize what assets are, how you can protect them from judgments, and how our firm can help you every step of the way.
Real estate property, such as homes, land, etc.
Cars or trucks
Stocks and bonds
Bank accounts and cash
Retirement plans and pension plans
Upon your passing, without the proper legal documents in place, a court will be the deciding factor with what happens to your assets. You want to ensure that you are doing everything you can to protect your assets from judgments and decisions made after your death and against your wishes. Our team at The Law Office of Nicole Israel, PLLC is here to explain your options and guide you through the process of Asset Protection Planning.
How to Protect Your Assets
Before you learn the ways to protect your assets, it helps to understand the ways in which you can lose your assets. Asset Protection Planning is for people who hold assets and understand the risks and what can threaten them. However, judgments against you or assets you own can cause you to lose everything you have worked so hard for. Many people lose assets because of debts owed and challenges to the will’s validity.
An asset protection trust has three main parties: the beneficiary, a trustee, and a settlor. The settlor is designated to make ongoing contributions into the asset protection trust while the trustee is liable for distributing and managing assets. The beneficiary is the person who receives the assets from the trust. To ensure that the trust is legal and designed to protect the assets within it, make sure you speak with a lawyer who has significant experience in estate planning and creation.
Asset Protection Tips
Asset Protection PLANNING Lawyer
If you are unsure of how you can protect your assets on your own, it always helps to get a lawyer on your side who can explain your options. A lawyer is well aware that your assets are part of your legacy. You’ve worked hard to earn the things you own, and you shouldn’t risk losing them or someone other than your beneficiaries having them when you pass. Our team will be there to help you with the personalized solutions you need.
Our asset protection attorney at The Law Office of Nicole Israel, PLLC is here to help you every step of the way. We work hard to protect your assets because we genuinely care about you, your future, and your family. We will walk you through all options to protect your assets and create the legal documents necessary to safeguard your estate. Get our team on your side from day one, and we’ll be the trusted advisors you need moving forward.
Call us today to discuss your options for asset protection with our dedicated team.