As more Americans find it necessary to spend time in a nursing home—often for a long period of time—they discover that most or all of what they spent a lifetime to accumulate can be used up due to the cost of care in an institution. In addition, the ever-increasing number of lawsuits filed each year poses yet another threat to passing anything to your heirs. Our law firm can help you protect your hard-earned assets from these threats.
ASSET PROTECTION TRUSTS
Properly designed Irrevocable Asset Protection Trusts can provide immediate protection against lawsuits, and protection against nursing home costs after the passing of the Medicaid “Look-back Period”. These trusts can provide you with the peace of mind that you will be able to pass along to your family the assets that you worked so hard to own.
Creating a Buy-Sell agreement can help you achieve tax advantages and control with respect to your family business. Equally important is the peace of mind you’ll gain when you know your children will be well provided for and your legacy will be passed on in a highly structured and cost-efficient way.
Family Limited Partnerships
A strategy that can help you meet such diverse goals as estate planning and protection from lawsuits, the Family Limited Partnership may be something you should consider. We will help you determine if it’s right for your business and family.
Limited Liability Companies
Tax-advantaged status and liability protection are the hallmarks of this legal tool. If we determine that a Limited Liability Company is appropriate for your situation, we will ensure that you derive all the benefits this company structure offers. Hallmarks of this especially if you own rental properties.