Atlanta Asset Protection Attorneys
Asset protection is the strategic use of financial and legal strategies to shield assets from lawsuits, creditors and future claims, such as long-term-care costs.
Asset protection is a legitimate estate-planning strategy if it is done in good faith and is not intended to defraud creditors. Asset protection can be especially valuable for professionals, business owners, high-net-worth individuals and those seeking to preserve wealth for future generations.
Lerman Law Associates, P.C., is dedicated to helping individuals in Kennesaw, Alpharetta and Atlanta by providing skilled asset protection guidance.
Understanding Asset Protection
Benefits of asset protection can include:
- Shielding assets from creditors
- Maintaining control of assets and business ventures
- Ensuring future financial stability
- Protection of assets from scams
- Avoidance of probate
- Effective management of real estate
In some cases, asset protection can provide tax benefits or be used in place of a prenuptial agreement.
Asset protection, however, is not for everyone. For example, some asset protection strategies are irrevocable, meaning once the assets are transferred or protected, it can be difficult or impossible to access them or undo the protection.
Estate-Planning Tools For Asset Protection
Common estate-planning tools used for asset protection include:
- Irrevocable trusts
- Limited liability companies
- Corporations
- Retirement accounts
- Insurance
- Gifting of assets
Deciding which tools are best for your situation requires the help of an experienced estate-planning lawyer. Lerman Law Associates, P.C., and attorney Craig Lerman can build an asset-protection plan that meets your needs.
Timing Of Asset Protection
To prevent accusations of fraud, asset-protection plans should be created before financial threats present themselves. Also keep in mind that asset protection does not shield assets from pre-existing liabilities.
How To Contact Our Asset Protection Lawyers
To learn more about asset protection and how it can help you achieve your goals, contact Lerman Law Associates, P.C., at 678-888-5773 or online for a free initial consultation.