A living trust can be an effective building block to construct your estate plan around because it is a versatile device, that is a good fit, for a wide range of people. You can benefit from a living trust, even if you do not consider yourself to be wealthy. But, when it comes to trust administration proper funding is crucial. Let our Florence trust lawyers explain. How a revocable living trust works The revocable living trust is an estate planning device that you should certainly explore … [Read more...]
Elder Law Lawyers Share Options for Asset Protection
When you are young, the concept of long-term care can seem alien to you. This may be especially true if you have taken good care of your health throughout your life. You may feel that it is unlikely you would ever need long-term care. Statistically, you should not overlook the costs of long-term care, and have a plan to pay for that care, should you ever need it. Here, our elder law lawyers will discuss asset protection issues. Longevity plays a factor in the need for early planning First of … [Read more...]
How Can Asset Protection Planning Help?
When creating your estate plan, you may consider asset protection planning. You can maintain control over how your assets are used after your death. In addition, asset protection planning best ensures that your loved ones are able to hold on to these assets, even during difficult times.What can asset protection do?Asset protection can allow you to keep the assets you pass to your loved ones safe. With asset protection, you won’t have to worry about losing important assets during life’s … [Read more...]
How to Protect Assets from Lawsuits
If you’re in a “high risk” profession such as medicine, law, or real estate, it is likely that you are concerned about protecting assets from lawsuits. Asset protection is part of the estate planning process. And, while we always recommend that you carry good insurance, there are other techniques that can be used to protect your assets if a judgment exceeds your insurance limits.Here are some asset protection options for your consideration:TrustsBy giving your assets during your lifetime … [Read more...]
Asset Protection Planning for Your Children
With asset protection planning, you are able to protect the assets that you give to your children during your lifetime and after your death. Creditors can take your children’s personal assets, but with careful planning the assets that you give to them can be protected from divorce, lawsuits, and bankruptcy.DivorceDivorce is more common than most people think. An in-law can quickly become an outlaw. If you have given your child assets, these assets can be subject to a divorce property … [Read more...]
