The term “asset protection” conjures the image of wealthy men discussing their latest offshore tax avoidance schemes over sips of 20-year-old-Scotch. In reality, even clients of modest net worth may benefit from some degree of asset protection. In my practice, I implement the following strategies and services to protect my clients and their families:

IDENTIFYING RISKS

For each of my clients, I evaluate sources of risk, including taxes, lawsuits, and the probate courts.

THE TAX MAN COMETH

Working with other financial professionals, I implement legal mechanisms designed to minimize the impact of trust, estate, and business taxes.

TRUSTS

Where appropriate, I implement trusts to minimize taxes and protect beneficiaries.

MEDICAID ASSET PROTECTION

The State of Florida provides generous nursing home, assisted living, and in-home care benefits through the Medicaid program. Contrary to popular belief, it’s not necessary to “spend down” all assets to receive Medicaid. By implementing legal strategies, I help families conserve assets and maximize the quality of care received by their loved ones.

HOMESTEAD PROTECTION

Homes constitute the largest source of wealth for many Americans. Working with Florida’s generous homestead laws, I develop strategies to protect homes from creditors and the probate courts.

IRAs

For most Americans, IRAs and other retirement plans serve as excellent vehicles to protect assets from creditors and minimize taxes. When developing estate plans, however, great care must be taken to ensure IRAs are not subject to excessive taxes and creditors upon the owner’s death.