What is Asset Protection Planning?
It is proactive planning to insulate assets against risks, to minimize the risk of loss, and to deter 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. 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.
A complete investigation should be undertaken to ensure that an Asset Protection Trust is necessary for an individual or a business. A complete analysis of one's current assets and life expectations should be undertaken to accomplish the correct planning.
Ready to start your asset portection planning? Give us a call at (207)848-5600
Wills and Trusts
You probably already know that, in a will, you name whom you want to handle your final affairs and whom you want to receive your assets after you die. But did you know that your will only controls the assets that are titled in your name? Your will does not control assets that are titled in joint ownership and go to your spouse or another joint owner when you die.
Wills and trusts have specific and quite different benefits for estate planning purposes. 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 Powers of Attorney, we can help.
Ready to start your Estate Plan?
Contact us now to get started!