Asset Protection
Protecting your assets is a critical component of securing your financial future. At Modern Law, we offer comprehensive asset protection services designed to safeguard your wealth from potential risks and liabilities.
Whether you’re an individual looking to secure your personal wealth or a business owner seeking to shield your personal assets from your company’s assets, our experienced team can help you develop a customized asset protection plan tailored to your unique needs.
What's Included
Modern Law advises clients on best practices to protect their assets depending on the client’s goals. Modern Law also helps clients protect their assets by structuring their assets through various entities, including Limited Liability Companies and Trusts.
Limited Liability Companies (LLC)
Beyond serving as a common business structure, the Limited Liability Company (LLC) has diverse uses. From acting as a holding company to insulating properties from businesses, to protecting personal assets from business ventures, LLCs serve multiple purposes. When set up and used properly, LLCs are intended to protect assets outside of the singular LLC being sued, meaning that anything owned in other LLCs or in personal names is insulated from lawsuits initiated against the singular LLC.
Identify Obfuscation
In an age where safeguarding your identity is increasingly important, Modern Law offers services to help protect your privacy. Contact us today to learn more about how you can keep your name off public records and protect your personal information.
Trusts
Trusts are another instrument that can be used to shield assets from liabilities and creditors. Used in a variety of ways, Trusts are a useful tool to protect assets.
Spendthrift Trusts
Spendthrift Trusts provide asset protection for beneficiaries. Beneficiaries who have creditors place your estate at risk. By restricting a beneficiaries’ access to trust funds, trust assets can be shielded from creditors and liabilities of the beneficiary.
Advanced Medicaid Planning
Irrevocable Medicaid Asset Protection Trusts guard your assets in case you need nursing home care. This type of trust lets you shelter assets for the benefit of your family instead of spending them on long-term care costs.
Crisis Planning
If you are entering a nursing home soon or are already in one, crisis planning may be an option. A spend-down strategy could enable you to purchase eligible items before applying for Medicaid benefits. Contact Modern Law to learn more about crisis planning and to be connected with resources to get started with crisis planning.
Contact Us
Have a question about asset protection? Contact our experienced team to take the first step towards securing your future.