LEARN WHAT IS ASSET PROTECTION..
What is Asset Protection?
Asset Protection planning involves creating a plan in advance, making decisions today to protect yourself, your business, and your hard earned wealth. There are many changes in life that can cause you to lose your assets including, loss due to lawsuits, nursing home care, divorce or family indiscretions, wrongly giving assets away to your children, and potential creditors. If you do not plan now while you can, your wealth created through your lifetime of work, your savings, and investing could easily be lost overnight.
What are Reasons to do Asset Protection Planning?
- It is never too late
- Obtains the best results when pre-planned (Transfer early to avoid appearances of fraudulent conveyance.) Requires giving up access direct access to what ever you are trying to protect
- Debtor/Creditor law provides that whatever you can get, your creditors can get
- Depends on more than exemptions, as they can change with the your current life situation
- Married and single exemptions for Veteran’s Benefits and Medi-Cal qualifications are not the same.
- Starts “Medi-Cal Clock” running for Transfers
- Starts “Veterans Benefits Clock” running for Transfers
- Preserves “Your” Money for You and those You Love
If you are not sure what your trust provides for you, call us for a document review of your trust at 415-905-0215 or fill out the contact form at the bottom of this page to send us an email.