Asset Protection Planning
Nobody expects to be sued. Just ask the 20 million people involved in lawsuits last year.
Divorce, inheritance, health issues, creditors, employees, theft, changing markets, malpractice suits, sexual harassment claims, natural disasters, and disgruntled business partners are just a few issues that can result in devastating lawsuits for unprepared business owners. Unfortunately, the highest level of risk falls on those who think they are immune.
Americans are now more concerned than ever about protecting their assets from creditor claims, taxes, and disasters.
- Will you be signing loan documents, a personal guaranty, or a lease?
- Do you have rental properties or employees?
- Are you an attorney or physician?
- Do you work in construction or perform professional services?
- Do you have children from a prior marriage?
Smart asset-ownership structures can protect you and your business against subsequent creditor enforcement actions. Hiring Winters Law Firm to design your asset protection plan could be the difference between reaching your financial goals and losing everything you worked so hard for.
How Does Winters Law Firm Approach Asset Protection Planning?
I assist clients in determining the appropriate level of asset protection planning for their particular circumstances. To do this, I will consider insurance, prenuptial agreements, asset segregation, choice of jurisdiction, gifting, LLCs, partnerships, corporations, and asset protection trusts. Customized combinations are layered depending on the needs of the client.
There are many different strategies to protect your assets while you are alive and after you are gone. If you’re looking to find out which strategies may be right for you, a financial planning attorney at Winters Law Firm can help!
When Should I Contact An Asset Protection Planning Attorney For My Family’s Estate?
It’s never too early to begin creating a plan that can work to protect the future of you and your family’s financial wellbeing. By creating trusts, wills, and utilizing other forms of estate planning, you can ensure that your hard work will be secure from conflict and harm in the days to come.
Family asset protection planning can achieve many different goals, including:
- Building strategies to achieve eligibility for Medicare, Medicaid, and other long-term care.
- Forming estate plans that ensure assets are maximized and distributed consistently with your wishes.
- Drafting Powers of Attorney in the event that you are incapacitated.
- Creating trusts to ensure that loved ones are cared for, regardless of contingencies.
Trusts are, by far, one of the most common and useful tools for family asset protection planning. An asset protection trusts attorney can help you to identify which kinds of trusts will best suit your needs and how to properly arrange your assets in a way that will protect your financial well-being and the provisions you have worked to secure for your family’s future.
If you are interested in the options available for you, don’t hesitate to contact me for a Family Wealth Planning Meeting. I have helped countless families form strategies tailored to their needs and goals, and I would be happy to speak with you!
How Can Asset Protection Planning Help My Small Business?
If you have a business, your very first step is to ensure that your business is set up correctly. A solid foundation will enable you to move forward with confidence and prevent future situations that cause daily operations to grind to a halt.
For a business, asset protection planning takes on a special significance. For a business to grow, there needs to be room for thoughtful and calculated risk. There is no way to plan the future or prevent negative results. Still, there are significant steps that can be taken to mitigate the negative impacts of a difficult outcome should your business face financial difficulties.
If you are considering working with an asset protection planning law firm, Winters Law Firm would be pleased to offer a Small Business Legal Audit.
In this audit, we can go over your business’ full legal situation and provide you with a status report that can serve as a baseline for which actions will best serve your future.
Winters Law Firm
If you are looking for the best lawyer for your asset protection needs, we hope that you would consider contacting our office in Round Rock, TX. Don’t hesitate to call and schedule a consultation to begin protecting your assets today!
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