Protecting Your CT Assets
Protecting your CT assets as you age is vital to your future. By creating a fully-inclusive life care or estate plan, you are considering all aspects of your health and your family’s financial security. The family home is often a key concern for our clients, regardless of whether they choose a nursing home facility or home health care in the future. Though they may not plan to stay at home forever, protecting the home and property in order to pass it on to family members or loved ones is a smart first step.
Asset Protection Strategies in Connecticut
Asset protection is part of any proper estate planning strategy. Proper asset protection strategies in Connecticut include the following goals:
• Protect existing assets
• Ensure the proper distribution of your estate upon death
• Minimize taxes
• Protect an inheritance from lawsuits, divorce settlements, and nursing home costs
You Can’t Predict the Future, but You Can Protect Your Assets
Depending on your specific situation, it may be wise to protect your CT Assets through one of the following strategies:
• Irrevocable trusts
• Limited liability companies (LLCs)
• Limited partnerships
• Asset protection trusts
Asset protection strategies in Connecticut go beyond real estate and investments. For professionals such as doctors, dentists, accountants, or lawyers who could potentially be exposed to allegations of malpractice, an asset protection strategy needs to be implemented. Protecting your CT assets protects not only you, but your family, your home, and your future.
Unfortunately, a lifetime of accumulated wealth and assets are not safe unless you legally protect them. No matter what stage of your life you may be in, defensive legal measures should be taken to protect your assets. Asset protection strategies in Connecticut are important to reduce the risk to your family, your lifestyle, and your future.
Many people think asset protection strategies in Connecticut are only for the wealthy. However, anyone should consider strategies to safeguard their wealth. Everything you have worked so hard for may be at risk if you do not have a proper plan of action in place to protect your assets.
If you are unsure of the best way to protect your assets in Connecticut, trust the expert counsel at Allaire Elder Law. Contact us today!
At Allaire Elder Law, we help our clients protect their assets in Connecticut. We proudly serve Bristol, Plymouth, Harwinton, Litchfield, West Hartford, Simsbury, Winsted, Barkhamsted, Wolcott Thomaston, Watertown, Cheshire, Meriden, and Newington, CT.