If you're creating your estate plan, you need legal help. That's especially true where an asset protection attorney is concerned. But, an asset protection attorney can help you avoid costly mistakes. If you're ready to work on your estate plan alone, read the list below. Here are four reasons to hire an asset protection attorney.
Ensure Smooth Transfer of Assets
If you have a family, they're depending on you to create a safety net for them. Part of that safety net involves your estate plan. One of the goals of an estate plan is to create a barrier between probate court and your loved ones. Without an estate plan, your assets can get tied up in probate court for years. Plus, your assets become a matter of public record. That's why you need to hire an asset protection attorney. An asset protection attorney can help you set up the right estate plan for your loved ones. That way, they ensure a smooth transfer of assets once you pass away.
Create Barriers Against Creditors
If you have outstanding debts, you need to protect your family against creditors. Once you pass away, creditors will come after your assets. Without protection, creditors can get paid before any money transfers to your family. Unfortunately, creditors can keep taking until there's nothing left of your assets. That's why you need an asset protection attorney. An asset protection attorney can create hurdles that creditors will need to overcome before they can lay claim to your assets. Plus, an asset protection attorney can set up trust accounts. That way, your assets are off-limits to creditors and your family can keep more of your assets.
Establish Estate Protections
If you're worried about the future, now's the time to talk to an asset protection attorney. Estate plans are designed to protect your family. But, there are protections that you need too. You want to have access to your assets before you pass away, and you want to protect your assets if you become incapacitated. An asset protection attorney can help you with both issues. First, a trust allows you to access your assets while you're still alive. Second, they create durable and medical powers of attorney that allow others to step in when you can no longer manage your assets.
Don't take chances with your assets. If you want to protect your estate, talk to an asset protection attorney near you.
Share14 July 2023
