Asset Protection Services in Bartow FL
With asset protection planning, you will be prepared against any potential losses that may come in the form of lawsuits, creditors and bankruptcy. Through careful preparation, your assets will not only be protected against loss, but they will be ideally positioned for long-term growth. Asset protection can also provide measures for use in later life, including medical care and long-term care, creating reassurance against any unexpected expenses that need to be covered.
How Does Asset Protection Help My Family?
With strong connections to estate planning, asset protection includes strategically managing resources that you can pass onto loved ones. Our asset plans can help you secure transfers to your family, friends and organizations to ensure that your wishes are carried out exactly as you intend. Examples of how asset protection can benefit you include:
- Protecting your asset transfers to children, grandchildren, and other minors
- Planning for a loved one with special needs and the care they receive
- Avoidance of excessive tax policies and minimization of taxable assets
- Establishing an extensive plan to preserve assets
- Protecting against exploitation or misuse of your resources
- Planning ahead for when someone is unable to manage his/her finances on their own
Can Asset Protection Help To Secure Medicaid?
Long-term care in nursing homes around Bartow can cost $6,900 per month on average, a high expenditure that needs to be planned for. While many people do receive benefits from programs like Medicaid, there are also numerous regulations that can prevent someone from receiving benefits depending on the structure of your assets. However, experienced asset protection attorneys will determine the current state of your assets and determine strategies to shelter them from excessive taxes. Additionally, these structures can help you to secure Medicaid and cover costly nursing home fees. Elder law attorneys will explore the wisest options for your family to support the cost of long-term care.
Speak With An Experienced Attorney
Asset protection is a highly technical area of law that involves a number of frequently changing regulations. Most families remain unaware of the significant savings that can result from professional asset protection planning. At Family Elder Law, our legal team takes the time to thoroughly explain every step of the process behind asset protection planning to you. We will make sure you understand how our work prepares and protects your family. As a result of asset protection planning, we strive to remove any stress caused by uncertainty that surrounds the assets you have labored so hard to earn.
Please contact us today to begin the process of creating your very own Family Asset Protection Report with Family Elder Law in Bartow!