Asset protection is among the most important goals our clients wish to achieve. Put simply – our clients work so hard for their home and savings that they want to protect their nest eggs against all the risks that life can throw at them. Those risks include nursing home costs if they get sick, estate taxes upon their death, and liability risks if they are sued.
The use of specialized trusts and other advanced estate planning tools can help shield your assets against nursing home/Medicaid, estate taxes, and liability risks. We all know people who failed to plan and lost everything to nursing home costs, lawsuit judgments, or estate taxes. Careful advance planning can help ensure that you don’t lose your nest egg.
The long-term benefits of asset protection are a major reason you should consider a comprehensive estate plan regardless of your age. If you have assets you are concerned about protecting, you should have an estate plan. Period. Your investment in estate planning will pay off many times over in the future.