SponsoredFamily Elder Law
Asset protection is one of the fundamental concepts of successful estate and elder law planning. When performed properly, a family can take comfort that their assets will be safe guarded.
In an estate planning context, asset protection techniques may involve the following objectives:
- Protecting the assets for children, grandchildren and other minors;
- Planning for a loved one with special needs;
- Establishing a plan to preserve one’s assets for retirement and for the support of loved ones;
- Planning for when one is unable to manage his/her finances;
- Protecting against those who might abuse one’s trust; and
- Avoidance of negative tax consequences.
