Aging in Maine is an Experienced Maine asset protection attorney here to help advise you on your needs for an asset protection trust. Learn more about asset protection planning and give us a call at (207)848-5600.
What is Asset Protection Planning?
It is proactive planning to insulate assets against risks, therefore, minimizing the risk of loss, and deterring lawsuits.
- Long-Term Care Insurance
- Proactive Veterans Benefits Planning
- Proactive Medicaid Planning
This type of planning is intended to protect one’s assets from creditor claims therefore, individuals and business entities use asset protection techniques to limit creditors’ access to certain valuable assets while operating within the bounds of debtor-creditor law.
Furthermore, a complete investigation should be undertaken to ensure that an Asset Protection Trust is necessary for an individual or a business. Thus, a complete analysis of one's current assets and life expectations should be undertaken to accomplish the correct planning.
Give us a call at (207)848-5600
Wills and Trusts
You probably know that in a will, you name the person who will handle your final affairs and who will receive your assets after you die. However, did you know that a will only affects assets that are titled in your name? Furthermore, a Will does not control assets titled in joint ownership that pass to your spouse or another joint owner at your death.
Wills and trusts have specific and quite different benefits for estate planning purposes. In addition, each state has specific laws and regulations governing these legal documents.
Ready to start planning?
Whether it's MaineCare applications, Special Needs Planning or a Power of Attorney, we can help.
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