Protecting Your Assets
Asset protection planning isn’t just for the rich and famous. It is a proactive measure that anyone with assets should consider as they approach their later life.
By moving your assets to inaccessible areas for parties who might launch a lawsuit against you, you are protecting not just your own well-being but also that of your loved ones.
Asset protection planning isn’t quick and cannot be started once you’ve been sued. Act now.
Asset protection planning is a vital tool for the protection of your financial health as you age. While many might consider asset protection only necessary for the wealthy, this is not the case. If you had the unfortunate experience of being sued, all of your assets are liable. And this is regardless of your financial wealth.
Elder law is specialized in asset protection planning as many older people, past retirement age, rely on their assets to continue living their lives. Rather than depending on a monthly income, assets are leaned on. For this reason, asset protection planning is even more vital in your later life.
But what exactly is asset protection planning? Asset protection planning is the practice of moving your assets away from the reach of creditors who have decided to sue you so that your financial health can be maintained.
Creditors may be demanding assets for a wide range of reasons, from an accident that you are deemed to have caused to the non-payment of nursing home bills. Many situations are not foreseeable and it is necessary to begin planning prior to their happening.
Act now to protect your assets before any major event causes their loss. As just mentioned, it is vitally important to plan before any lawsuit is filed against you.
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