You’ve worked hard your entire life, and saved for a comfortable future. But what happens if life takes an unexpected turn? What will happen to the assets you have worked so hard to gain? Will they go to your intended loved ones as your legacy … or will your savings and assets be used to pay for long-term medical care or nursing home costs? And for business owners, how can you protect your assets from increasingly common frivolous lawsuits in order to protect your assets both now and for your children and grandchildren?
What is Asset Protection?
An Asset Protection plan protects your assets from creditors during your lifetime, as well as protects the assets you leave to your loved ones.
Why Do I Need An Asset Protection Plan?
In today’s litigious environment, asset protection and related asset protection planning is absolutely critical in order to ensure that your hard-earned wealth is kept well beyond the reach of potential creditors. Asset protection begins with a strategy and is followed by the development of an effective plan that balances the underlying goal of securing your assets with that of ensuring that your access and the keys to your wealth, always remain available to you. Use of advanced estate planning techniques such as various types of Medicaid Qualifying Trusts, Limited Liability Companies, Family Limited Partnerships, Special IRA Trusts, Grantor Retained Annuity Trusts, Qualified Personal Residence Trusts, Domestic Asset Protection Trusts, Foreign Asset Protection Trusts and Cook Island Trusts are but a few of the strategies deployed in order to provide you and your family with real asset protection. The key to successfully protecting your assets is to have a plan in place before it is needed – so that your money is protected before it is too late.
Why CGMB Long Island Elder Law?
With more than 50 years of combined experience in this highly specialized area, we bring a unique advantage to this sophisticated game of chess… where the winner takes all. In addition to offering expertise as seasoned Trust & Estate Attorneys, firm attorney Ellen B. Kugler is also a veteran CPA – and understands better than most both the estate planning strategies and equally as important, the tax implications and tax related issues that often arise with asset transfers.
Contact us today to learn more about how effectively protecting your assets now can make all of the difference when it comes to the future for you and your loved ones. Don’t wait until it’s too late – and don’t leave yourself vulnerable to losing all that you have worked so hard to gain. Most importantly, don’t trust your future to anyone other than the experienced attorneys at CGMB Long Island Elder Law.