Asset Protection
Estate Planning
Asset Protection Services
Your hard-earned assets and wealth that you obtained throughout your life can be protected with short and long-term planning. We can help strategize various ways providing different options, based on your circumstances, to safeguard or reduce liability for various assets from things like Pennsylvania Inheritance Tax, Federal Inheritance Tax, potential disputes amongst your family, business partners, and the like, creditors, third-party lawsuits, and even bankruptcies.
Based on your circumstances, concerns and goals, we will help walk you through long-term estate planning to include an asset protection process to create a Will or Trust to ensure your assets are left with the correct beneficiaries and meet your current needs over time.
Protecting Your Assets from the State
If you’re worried about the Commonwealth of Pennsylvania taking your assets during your lifetime and for taxes that will be due at your passing, you’re not alone. We’ve helped many clients preserve their wealth and assets from PA creditors, lower PA and Federal Inheritance Tax, Capital Gains Tax and having to apply for Medicaid.
Also, should you need expensive long-term care, we will discuss things like protecting your home from potentially being an asset the government can claim, as a form of payment or repayment should you need to apply for Medicaid. We can form a plan that will protect your assets from estate recovery claims by the State.
Overall, our goal is to assist you in discussing your options by organizing and safeguarding your assets, as much as possible by, during your lifetime and at the time of your passing to protect ownership by preserving your wealth and legacy.
Creating a Barrier for Your Assets
No matter what situation may occur, we can help create legal and strategic barriers to guard your assets. Some possible techniques we could use include:
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- Ensure proper liability insurance
- Form a comprehensive estate plan
- Maximize your contributions to IRAs
- Move funds to an Irrevocable or Revocable Trust
- Retitle your assets
- Create a Special Needs Trust or Protective Trust
- Use limited liability companies to separate your personal and business assets
- Utilize family partnerships
Asset Protection Plans
Unexpected situations occur all the time, and an asset protection plan in place will keep you prepared. At Auld Brothers, we will work with you to find the proper risk management and asset protection strategies for your life, including:
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- Exempting your assets from claims of creditors
- Limiting your liability through legal entities
- Putting a plan in place after you pass
- Transferring your risk through insurance
When Should You Form an Asset Protection Plan?
Having a protection plan before you need one is the best solution, so now is the time to start. Being proactive will ensure that the beneficiaries of your choice will receive your hard-earned money, property, and assets. They will also be protected from anyone who tries to come after your business or personal assets.
What to Do if You Need Protection Now?
If you’re already worried about preserving your wealth and legacy or are concerned about being able to afford assisted living or skilled nursing with mounting creditor debts like mortgages and credit cards, we can still help. In short, you need to start planning now. Please get in touch with us immediately, so we can determine the best way to help you.
Send a Message
Contact Us to Get Started
Complete our online form so we can help you with your estate planning process.
We are happy to provide a free, 30-minute consultation, with legal advice and answer any questions you may have about your current situation. Our goal is to provide you with clear, straightforward information to help you understand what you need.
5349 William Flynn Highway
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