ASSET PROTECTION STRATEGIES

You have the right to protect your assets! The question is whether you know how to exercise your rights. Overly zealous creditors, bankruptcy, and divorce attorneys can be stopped. Others advocate "asset protection kits" with offshore components and dealings with shady banks. This does nothing more than invite scrutiny and possible fraud charges.

We also enable older individuals to qualify for Medicaid WITHOUT losing control of their assets, declaring bankruptcy or forfeiting their home.

Asset ProtectionLet me take a wild guess... you think this either isn't possible or isn't for you, and until recently you would have been right. Recent changes in trusts and tax law have opened the door to EVERYONE. Domestic trusts now have the security and privacy of an offshore trust, but none of the drawbacks. Don't believe us? Just read this article by The Economist which declares "Wyoming is the Switzerland of the Rockies".

The key is understanding your rights. Anyone, and we mean ANYONE, can form a domestic trust. The reason most don't is simple... they think these strategies are only for the one percent. We offer two primary forms of asset protection: Domestic Asset Protection Trusts (a.k.a. Qualified Spend Thrift Trusts) and Irrevocable Medicaid Trusts. Follow those links for specific details, or continue reading for an overview.

Protecting AssetsDOMESTIC ASSET PROTECTION TRUST

Everyone is at risk of losing their wealth. Have you ever heard about someone suing a homeless person for millions of dollars? The answer is no. Those with wealth, though, are often targets. Beyond lawsuits, worldwide economic problems, failed marriages and blended families all constitute exposure to undue financial risks.

Not everyone needs asset-protection planning, but there are groups with greater exposure and risk. Such groups are doctors, attorneys, accountants, directors and officers of public companies and real estate owners. Add to those groups anyone with significant means and there is a meaningful population that is, or at the very least should be, concerned with asset protection.

Protecting Assets

MEDICAID ASSET PROTECTION TRUST

Can you afford the cost of long term care? At an average of $74,280 dollars per year not everyone can or even wants to pay such outlandish sums for essential healthcare services. Our Medicaid Trust strategies allow you to retain control over your assets, including your home, while still qualifying for Medicaid. We have seen many people forced into bankrucpty or divorce because of bad advice regarding Medicaid asset and income thresholds. Before making life-changing decisions regarding your assets you should read our guide to Medicaid Trusts first.

Related Reading Beyond what's above, we have resource articles on Q-Tip Trusts, AB Revocable Trusts, Living Revocable Trusts, and Pet Trusts. We also have articles on Solo 401ks, Closely Held Insurance Companies, Risk Management and Tax Shelters.

Asset Protection Strategies

www.cloudpeaklaw.com/Asset-Protection