Boston Asset Protection Lawyers
Asset protection is a field that covers many different techniques, including estate tax reduction techniques, off-shore trusts, domestic asset protection trusts, and Medicaid trusts.
Serving the Elderly and Their Families throughout Massachusetts
There are many other ways to protect assets without using a trust, such as putting assets in a spouse’s name. For example, a wife who is not considered "at risk" could hold assets for a physician, CPA, or an attorney.
The technique could also be as simple as a homestead or using qualified plan assets, such as a 401(k) and a profit sharing plan, which are exempt from bankruptcy proceedings.
Even an IRA is exempt from a bankruptcy proceeding for an account balance up to $1,000,000.
Asset protection also deals with protecting your family assets from the cost of long-term nursing home care. Revocable Medicaid trusts and various types of commercial and private annuities may be utilized to protect your assets from the cost of long-term care. Please take a minute to explore our site and the various techniques available to you to protect your assets.
If you have questions about asset protection and how it affects your family, send us an e-mail or call 617-523-1555 or toll free 888-759-5109. Free initial consultation.