Many people equate financial success with the accumulation of wealth. Equally important, however, is protecting that wealth once it has been acquired. While insurance policies provide some critical protection, there are still numerous circumstances where your wealth could be at risk from lawsuits or creditors. This is no small concern, considering that we live in a highly litigious society. More lawsuits are filed in the United States than the rest of the world combined. All of which explains why Asset Protection Planning is so very important, and having your plan designed and implemented by a law firm with experience in this area.
Your Asset Protection Plan should protect you and your spouse from predators looking to make a claim on your assets while you are alive, and protect your children’s inheritance against creditors and predators after you are gone. The latter can involve issues such as ensuring your child’s inheritance is safe should he or she get divorced. Similarly, your grandchildren may need protection to make sure they receive their inheritances if your child dies and your son-in-law or daughter-in-law remarries. Sadly, your children may even need protection from their own decisions if, for instance, they are not ready or able to handle a large inheritance, or they suffer from drug or alcohol dependency.
Shah and Associates, P.C., has the experience and expertise to offer the finest Asset Protection services available. We will work with you to assess your risks and create a personalized plan to protect your assets. Whether your holdings are great or modest, we have the tools necessary to help you keep what is yours, so that you and your family can enjoy some peace of mind in times of uncertainty.
In order to get the full benefits of any Asset Protection Plan, it is important that it is set up before you find yourself in financial difficulty. Waiting until a lawsuit is looming or the creditors are calling will make asset protection a much more difficult and costly process, and could expose you to further legal liability. Contact us today for an initial consultation to discuss your specific asset protection needs and goals.
Related Blog Posts: