At James M. Snow Law, I am happy to provide my clients with a variety of legal services. One of the services which I offer is asset protection. Asset protection is something that many people don’t fully understand. In this article, I will discuss some of the basics about asset protection.
- What is asset protection? Asset protection is a part of a person’s financial planning. The intention is to protect one’s assets from claims by a creditor or to preserve one’s assets from being counted against you for Medicaid purposes.
- Who needs asset protection? Everyone, unless you are so wealthy you do not fear losing your money and property to others, including the government, and are able to pay for long-term care for you and your spouse indefinitely.
- When should I get asset protection? Like financial planning for retirement, asset protection should be done long before it is needed. The general rule is that if you do it now, you will probably never need it, but if you don’t do it now, you will probably regret you didn’t do it when the time comes. Talk to me today to see if this is what you need to be doing now rather than waiting until I have to tell your spouse, child or other trusted person later that it’s too late.
With over forty years of experience practicing law, I have developed a thorough understanding as to how to best serve my clients and their families and protect their wealth. Contact me today to schedule a consultation.