Asset Protection for Raleigh Residents

What is Asset Protection?

Asset protection is crucial for safeguarding your wealth from potential creditors and unforeseen circumstances. It involves proactive strategies and legal tools designed to make it difficult for creditors to reach your assets.

Asset Protection Trusts: An Ideal Tool

An asset protection trust is a powerful tool that involves transferring ownership of your assets to a trustee, who manages them on behalf of designated beneficiaries. This shields your assets from creditors while allowing you to control their use.

Types of Asset Protection Trusts

1. Domestic Asset Protection Trusts (DAPTs): Allow you to remain a beneficiary while receiving creditor protection within the United States.
2. Foreign Asset Protection Trusts: Offer enhanced protection by subjecting assets to foreign laws with stronger asset protection measures.
3. Medicaid Asset Protection Trusts: Help qualify individuals for Medicaid benefits by protecting assets that would otherwise disqualify them.

Benefits of an Asset Protection Attorney

Navigating asset protection law requires expert guidance. A local asset protection attorney can provide:

1. Personalized Protection Plan: Assess your unique situation and develop a tailored plan to safeguard your assets.
2. Legal Expertise: Ensure your plan complies with all applicable laws.
3. Ongoing Monitoring: Continuously monitor your plan and make necessary adjustments as circumstances change.