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. These risks include lawsuits, creditors, predators, divorce, long-term care costs, taxes, and more. The phrase “in advance” warrants strong emphasis. Your plan should be designed and implemented before a particular threat materializes. It is possible to use the tools and strategies of asset protection planning to safeguard virtually every type of asset, including a business or a professional practice.

Your asset protection plan should accomplish two main goals: protect your assets from threats while you are alive, and protect the inheritances you leave to beneficiaries after you pass away. The latter might involve protecting the assets of a son or daughter against the possibility of divorce, or against your children’s own poor decisions if they are not mature enough to manage an inheritance on their own.

At Bucks County Elder Law, we design integrated estate plans that incorporate robust asset protection planning. We will work closely with you to ensure all of needs are met and all of your assets are protected. We know you have worked hard for every penny. Allow us to help you preserve your assets for your enjoyment today and that of your loved ones for years to come. Contact us today for a complimentary consultation with our Yardley and Newtown asset protection lawyer to discuss your particular needs and goals.