Asset Protection Planning
Unfortunately, we live in a world that’s sometimes dishonest. Memphis, Tennessee has a lot of great individuals but it only takes one person to harm you financially. You may have worked hard to earn and save your money, but that doesn’t mean that others will do the same. In fact, it’s actually more likely that you will be sued this year than you are to die. And we’ve all heard the statistics about divorce rates.
It can be very challenging and expensive to do effective asset protection planning for oneself with one’s own assets. One of the least expensive and most effective methods of asset protection doesn’t involve your assets, but the assets of the people you love. A commonly overlooked opportunity in estate planning is to leave your heirs’ inheritance in a manner that is totally protected from their creditors, yet still in their control and for their benefit. We call these trusts “Lifetime Asset Protection Trusts.”
And the opportunity isn’t just for what you pass on - it’s also available for what you may receive. We have helped clients set up Inheritor’s Trusts, which serve as empty vessels ready to receive their inheritances. The Inheritor’s Trust is prepared to our clients’ specifications in a manner that keeps its assets a protected nest egg for life. In that way, all that our clients’ parents, grandparents or other loved ones need to do is change their will or living trust to designate the Inheritor’s Trust as the beneficiary of their estate.
You don’t have to be a Fortune 500 CEO to benefit from asset protection planning, and we can help protect your inheritance and your heirs’ inheritance from frivolous and money-draining lawsuits. Just one more way we’re looking out for you and the people who mean the most.
To schedule a no charge initial consultation with a Memphis lawyer, please contact us.
