You have spent much of your life creating - acquiring assets. Unless you protect them, your financial security is at risk. There are so many different variables that threaten your financial security and that of your family, ranging from the high cost of long-term care to creditors, predators, lawsuits, loss of time, and potential asset loss through the administration and probate process. We live in a litigious society where not only the uber-rich are sued. In fact, in the United States, more lawsuits are filed than in the rest of the world combined.

Asset protection planning is a strategy to insulate your savings, property, inheritance and business from the cost of long-term care, creditors and lawsuits. A well-structured asset protection plan will protect you during your lifetime and will protect your beneficiaries at your death from the same threats mentioned earlier as well as divorce. If desired, it will ensure that the assets remain in your bloodline.

One of the common mistakes people make is giving away their assets to a loved one to ensure that the loved one receives the assets or that it is protected from Medicaid recovery. Outright gifts have several pitfalls. First, you lose control of your assets during your lifetime. Second, your assets are exposed to the same threats plus the additional threat of divorce and the risk of death of the loved one. Third, the gift could make you ineligible for Medicaid coverage for an extended period.

We craft plans that allow you to protect your assets for your use during your lifetime and at your demise the assets may remain protected for your loved ones.