For senior citizens, asset protection in Meriden, CT is vital to protecting the future security or your family. A fully-inclusive estate plan helps you to consider all aspects of your family’s financial future. Although many seniors may not plan to live in their home for the rest of their life, asset protection in Meriden helps you to pass along your home, vehicles, or other assets.
Here are some asset protection strategies in Meriden, CT that may work for you:
• Consider keeping assets of you and your spouse separate and review all jointly held accounts. Any money you deposit into a joint account with your children, parents, or business partner can be at risk. If a joint account owner files for divorce, incurs a tax lien, or has a judgment filed against them, this account can be wiped out.
• People who own real estate property, investment accounts, and other valuable assets may worry that a future lawsuit will wipe out everything they’ve worked hard for throughout their life. Asset protection is effective when done in advance of lawsuits, judgments, or claims.
• In Meriden, asset protection is proactive planning to protect your assets from future judgments or from potential creditors. Legal strategies can deter those that may want to gain control of your assets or can help prevent the seizure of your assets after a judgment. Asset protection in Meriden is much more effective when they are set up well in advance of a lawsuit.
At Allaire Elder Law, we analyze your current holdings as well as your potential likelihood for future exposure. If you’re ready to set up asset protection in Meriden, CT, contact us today.contact Allaire Elder Law today!