What is Asset Protection Planning?

Asset protection planning is about protecting your assets from creditors. It’s vital in a number of situations. First, anyone can get sued. Lawsuits can stem from car accidents, credit card debt, bank foreclosures, or unhappy customers, among many other things. If someone wins a monetary judgment against you, your family could become bankrupt trying to pay it off. Second, families looking for ways to pay for a loved one’s long-term care often find themselves needing to protect assets while qualifying the loved one for public benefits such as Medicaid.

Comprehensive Asset Protection Strategies

To keep assets away from creditors or long-term care facilities, they need to be moved out of reach. Drazen Rubin Law, LLC offers a full range of asset protection techniques including maximizing contributions to IRAs, moving funds to an irrevocable trust, retitling various assets, or using limited liability companies or family limited partnerships.

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