Asset Protection Planning

 

Years ago, when asset protection planning was a new concept that was not well understood, many attorneys viewed it with suspicion. Some even questioned whether it was ethical. Today, however, the tables have turned. Asset protection planning has become a well-recognized area of practice.

 

Technically, asset protection planning is the process of organizing one's assets and affairs in advance to guard against risks to which the assets would otherwise be subject. The phrase "in advance" warrants strong emphasis. One who is planning to protect assets must be cautious and avoid the negative implications that may follow if there are creditors who are entitled to remedies under applicable fraudulent transfer and similar laws. Asset protection planning may be applied to protect every type of asset, including an operating business or a professional practice.

 

Although asset protection planning has made strides, it was often done in isolation without regard to the client's overall estate plan. Similarly, many estate planners did not provide for the lifetime side of estate planning. In other words, without regard to lifetime asset preservation, many estate planners focused on tax mitigation at the time of death, avoidance of probate, the smooth transition of property, and making sure the deceased's dispositive wishes were followed. As planning principles and concepts have evolved, the wealth planning community is uniting these two disciplines more and more into one integrated estate planning process--integrated estate planning.

 

The Law Office of Henry A. Carpenter II, Esq. takes into consideration all aspects, when creating an Asset Protection Plan.  We want to make sure your needs are met, your assets are protected and that you can leave a legacy for your loved ones.  We know you have worked hard for every penny.  Allow us to help you preserve it.

Contact Us

 

Bucks County Elder Law, LLC

Henry A. Carpenter II, CELA

 

Toll Free: 1-888-378-8200

Local: (215) 493-0727

Fax: (215) 493-0331

 

 

Makefield Executive Quarters

301 Oxford Valley Rd, Suite 101B

Yardley, PA 19067

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BUCKS COUNTY ELDER LAW

 Makefield Executive Quarters

301 Oxford Valley Rd Suite 101B

Yardley PA 19067