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Home » Estate Planning » Asset Protection Planning » Be Proactive About Protecting Your Assets

Be Proactive About Protecting Your Assets

May 4, 2012 by John Potter

Acting with the future in mind can be the key to financial success, which is why it is important to develop an ongoing working relationship with a northern Kentucky estate planning lawyer early on during your working career.

By taking action in advance you can circumvent potential difficulties before they happen, and with this in mind, you may want to be proactive about protecting your assets.

When you have sufficient wealth, you may want to position it so it cannot be attached by creditors or claimants. You may also want to implement tax-saving strategies as you are looking forward to the eventual distribution of your assets among your loved ones after you pass away.

Some financial planning instruments utilized within the estate planning community that can keep your assets out of harm’s way. These would include limited liability companies, family limited partnerships, family savings trusts, and others. The best instrument or combination of instruments will vary on a case-by-case basis.

The key to an impeccably constructed estate plan is careful preparation with the benefit of professional advice. When you discuss the future with an experienced estate planning lawyer, he or she will first examine the nature and extent of your resources while gaining an understanding of your objectives and the dynamic of your family.

Your lawyer will then provide you with the optimal solutions given your unique situation, protecting your assets while arranging for a smooth and efficient transfer to your heirs after your passing.

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Filed Under: Asset Protection Planning, Estate Planning Tagged With: Asset Protection, Estate Planning, Financial Planning

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Overall The Potter Firm was very professional. They took what could of been a very complicated process and were able to break it down so it was a lot easier to understand. We are confident we now have made the right decisions in our estate planning. Good firm to work with.

DKS & KMS Client Review August 28, 2020

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John Potter has been a real pleasure to work with. He is very knowledgeable and explains things in a very simplistic manner so the average person can understand how/why the laws are written. He is very attentive and asks questions in such a way that not only helps him understand your goals, but also helps you think about what type of goals and expectations you should be considering. Exemplary client service.

David J. Client Review August 28, 2020

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My husband and I selected Ms. Potter to assist with our small business. She responsive and attentive every time I have a question or need assistance, and is extremely knowledgeable and able to answer any legal question I have had. I know I can count on Ms. Potter for all of my business legal needs and I would highly recommend her to anyone needing legal assistance with such.

Jillian Client Review August 28, 2020

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