Protecting Assets During And After One’s Lifetime
Hard work and diligent savings may have provided you with substantial assets that are worth your effort to protect thoughtfully. Planning for distribution of your assets after death through a will and/or trusts is a lynchpin of any asset protection plan. However, they are not the only ways to protect financial assets, real estate, investments and other accumulated wealth. Avalon Legal Group in Las Vegas helps individuals and families explore options for protecting property during and after one’s lifetime.
Examples Of Asset Protection Strategies
If you start a business, you should consult with a lawyer about how to protect your personal assets from business losses and liabilities. Choosing the most advantageous business entity is one way. Putting personal assets in a living trust is another way. Trusts and joint ownership structures can also allow for a smooth transfer of ownership of your personal property after your death.
Other powerful asset protection tools include family businesses, family charities, nonprofit organizations and foundations.
Our attorneys can help you devise methods for protecting assets while you are living, as well as dividing future assets among children and other intended beneficiaries.
When Assets Are Complex, Designing A Protection Plan May Also Be Complex
A detailed inventory of your current and projected assets is a first step toward determining how best to protect them. With the help of one of our asset protection lawyers, Avalon Legal Group can provide the information and options you are looking for to protect:
- Bank accounts
- Real estate shared with other family members (such as vacation homes)
- Sizable assets such as boats, horses, vehicles and collectibles
- Stocks and bonds
- Investment properties
- Intellectual property
- Projected royalties and other forms of profit from creative endeavors such as a singing or dancing career at Las Vegas casinos
For example, you may decide to put stocks and bonds in one child’s name and set up a special-needs trust for another son or daughter.
A robust asset protection plan should ideally dovetail with your estate plan, business organization, and personal property protection such as through insurance. Asset protection is not a simple matter when assets are complex. The asset protection planning and implementation process may be detailed, but the goal is worthwhile. Consider the benefits and peace of mind a coordinated plan can provide. Avalon Legal Group is here to provide this peace of mind by guiding you through careful planning.
Talk It Over With A Nevada Attorney
Our law firm awaits your call at 702-522-6450. You may also send an email inquiry to request a consultation. Our clients come from throughout Las Vegas, Henderson, Clark County and surrounding communities and counties. Members of our team speak Spanish, Farsi and Russian, in addition to English. Se habla español.