Asset protection planning can help you to keep your assets safe so you can pass your wealth down to the people you love or so you can enjoy financial security during your senior years. Making a plan to protect your wealth is not just something that only very rich people should do. In fact, if you're in the middle class and have managed to build up a nice nest egg that you want to serve as your legacy, it could be especially important for you to make an asset protection plan. If you think … [Read more...]
3 Situations When You Need to Talk with Indianapolis Asset Protection Planning Lawyers
Indianapolis asset protection planning lawyers can help you to make plans to keep your wealth safe and secure. It's important for you to consider the biggest risks to your wealth and the potential threat that your assets could be lost either during the course of your lifetime or after your death. Often, you will need to take steps in advance to keep your wealth safe if you want to have financial security as you age and if you want to leave a legacy for the people who you love.Frank & … [Read more...]
Tools You Can Use to Protect Your Wealth
An Indianapolis asset protection attorney helps you to keep money and property safe so your assets are not at risk from common sources of loss. You work too hard to build a nest egg, only to see all that you have worked to build lost due to bad luck or mismanagement. There are tools you can use to try to protect your wealth and to maximize the chances that your money and property can provide you with financial security and serve as your legacy. Frank & Kraft will help you to use the asset … [Read more...]
What are the Biggest Risks to Protect Your Assets From?
Indianapolis asset protection attorneys provide comprehensive advice on keeping your money and property safe and secure. There are many risks to the wealth that you have worked to acquire and it is up to you to take steps to minimize and mitigate those risks so you can pass money and property on to your loved ones and so your nest egg sees you through your senior years. Frank & Kraft has helped many clients to successfully use legal tools to reduce the risks of assets being lost during … [Read more...]
Four Asset Protection Strategies You Need to Consider
For most people in America, asset protection probably doesn’t seem all that important. And even in cases where the average person might be a little concerned about the possibility of sued, insurance plans are usually the first option that comes to mind. If you have any real estate, stocks, inheritance, or other source of wealth, however, insurance may not be enough to provide the protection your assets need. Moreover, insurance cannot protect you against future creditors, help you someday … [Read more...]
Can My Son's Creditors Take His Inheritance?
Some people are not good with money, and others run into financial problems that they really didn't cause on their own. This can be something that crosses your mind when you are engaged in your inheritance planning efforts.Clearly, if you were to leave a direct inheritance to a loved one through the terms of a last will, the assets would be in the direct personal possession of the inheritor. They would be treated like any property, and the inherited assets would be available to creditors … [Read more...]
A Medicaid Trust Can Protect Your Legacy
When you are looking ahead toward your retirement years, you probably have some vision in mind with regard to what you will have left to leave behind to your loved ones. If you take the right steps, you can have sufficient resources to support your golden years as you simultaneously preserve a suitable legacy.Potential long-term care costs are something that you should take very seriously when you are evaluating your future financial position. Most people who are fortunate enough to attain … [Read more...]
What Is Nursing Home Asset Protection?
When you think about the term "asset protection," lawsuits will probably come to mind. While it is true that people who are concerned about legal actions can take steps to protect assets, there is another type of asset protection that can enter the picture when you attain senior citizen status.Let's look at the facts.Living AssistanceSeven out of every 10 senior citizens will need living assistance eventually according to the United States Department of Health and Human Services. This is a … [Read more...]
How Can a Landlord Protect Assets?
If you are a landlord, you may be concerned about lawsuits. People could get injured on property that you own, and you could be targeted. Clearly, this is a legitimate concern, because litigious types are always looking for vulnerabilities.One way to protect assets if you are a landlord would be to convey your property into family limited partnerships.First, we should explain the basic anatomy of a family limited partnership. If you establish and fund a family limited partnership, you are … [Read more...]
What Is a Limited Liability Company?
When you are the owner of a business or a professional practice, you may be concerned about litigation. You can limit your exposure if you implement the appropriate asset protection strategies. One asset protection structure that is frequently utilized by small business owners is the limited liability company or LLC.If you create a limited liability company, the business property would be separate from your personal property. As a result, if the business was targeted by litigants, your … [Read more...]
