Asset Protection Services in Lake Wales FL
Whenever anyone has a substantial accumulation of assets, preying creditors and potential lawsuits may be lying in wait. To properly manage your assets and future transactions, careful planning at early stages can keep your finances safe. Asset protection also heavily focuses on care for the elderly, covering long-term living expenses and ongoing medical treatments.
Can Asset Protection Help My Family?
With a high correlation between estate planning and asset protection, these initiatives help you and your loved ones by:
- Protecting the assets for children, grandchildren and other minors
- Planning for a loved one with special needs
- Establishing a plan to preserve one’s assets for retirement
- Planning for when one is unable to manage his/her finances
- Protecting against those who might abuse one’s trust
- Avoidance of negative tax consequences
How Can Asset Protection Secure Medicaid?
Long-term care in nursing homes around Lake Wales can cost between $7,000 to $8,000 per month, so there must be careful planning. While many people benefit from programs like Medicaid, there are complex laws in place that limit eligibility, to guarantee that only those in need are the recipients. With the help of experienced asset protection attorneys, there are ways to shelter your assets and bring your finances to levels that provide the aid you deserve. Lastly, provisions are available for different living conditions. For example, financial support for a spouse who will not be residing in a nursing home will be considered as well as finances for a couple living in a nursing home together.
Speak With An Experienced Attorney
Asset protection is a highly technical area of law that enables you to live with reassurance. Improperly shifting assets and changing property ownership may result in costly legal consequences that most people are not aware of. At Family Elder Law, you can be assured that a certified expert in Elder Law will explain the process to you in understandable terms while identifying strategic opportunities to protect your assets and income. Through proper asset protection planning, we can eliminate the fear of losing all the assets you worked so hard to accumulate.
Please contact us today to start creating your personalized Family Asset Protection Report with Family Elder Law in Lake Wales Fl!