The goal of asset protection planning is typically to keep your assets safe from creditors who may want to seize them. These may be business creditors, a Medicaid lien from a nursing home stay, a possible challenge to your estate by a problem family member, an heir going through bankruptcy, or an ex-spouse of one of your children trying to pull your family assets into a divorce.
Whatever the potential threat, it should be addressed before it becomes an issue. For example, it is difficult to protect assets after a lawsuit has been filed, or to do nursing home asset protection after a person is already in a nursing home.
A variety of asset protection tools exist, including irrevocable trusts, limited liability companies, and more. In order to ensure that your assets are properly protected, you need the guidance of an experienced estate planning attorney.
Our firm can help with all types of asset protection planning. We can also help you modify this plan as your needs change over time. Likewise, if you have an estate plan created by another firm, we are happy to review the plan and adjust it as necessary.
Asset protection plans can be complicated, and they need to be executed carefully. Our firm understands the complex laws that apply in these cases, and we can design a plan that helps you achieve your unique goals. Please contact our office in Natchitoches today to learn more or to make an appointment with an estate planning attorney. We serve clients throughout North, West, and Central Louisiana, including Natchitoches Parish, Sabine Parish, DeSoto Parish, Red River Parish, Vernon Parish, Rapides Parish, Grant Parish, and Winn Parish, and the cities of Natchitoches, Alexandria, Many, Zwolle, Mansfield, Coushatta, Leesville, Colfax, Winnfield, and surrounding areas.