Over the course of the last ten years, the increased use of asset protection planning is one of the biggest changes in estate planning. Leaving an inheritance to someone else in a form that is protected from their creditors or from a divorcing spouse is a relatively easy thing for you to set up for them as part of your estate plan. It is a difficult (or even impossible, in some circumstances) thing for them to set up for themselves after your death. For this reason, at least the consideration of the use of asset protection trusts for those who inherit from you is a key part of estate planning.
There are also opportunities for you to create asset protection for yourself during your life. You don’t want to lose your hard-earned wealth and be left facing financial uncertainty as you get older and you don’t want your loved ones to have to worry about their own futures if you have the money to protect and provide for them. Asset protection planning can also arise in the context of planning for qualification for government related benefits.
We help clients in all of these areas. It is up to you to protect all you have built, and Clarity Legal Group® is here to help you.