Check this link right here http://www.cloudpeaklaw.com/Asset-Protection/ for more information on Domestic Asset Protection Trusts. Domestic Asset Protection Trusts are designed to discourage existing and future financial institutions. This prevention might lead a lender to choose that either bringing a suit will be too pricey as well as time consuming or will certainly force them into going for a lot less than would otherwise have actually been feasible.Follow us: http://www.stumbleupon.com/stumbler/medicaidAsset
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Domestic Asset Protection Trusts
You have the right to protect your assets.
The question is whether you know how to exercise your rights. Overly zealous creditors, bankruptcy, and divorce attorneys can be stopped. Others advocate "asset protection kits" with offshore components and dealings with shady banks. This does nothing more than invite scrutiny and possible fraud charges.
We also enable older individuals to qualify for Medicaid WITHOUT losing control of their assets, declaring bankruptcy or forfeiting their home.
Everyone is at risk of losing their wealth. Have you ever heard about someone suing a homeless person for millions of dollars? The answer is no. Those with wealth, though, are often targets. Beyond lawsuits, worldwide economic problems, failed marriages and blended families all constitute exposure to undue financial risks.
Not everyone needs asset-protection planning, but there are groups with greater exposure and risk. Such groups are doctors, attorneys, accountants, directors and officers of public companies and real estate owners. Add to those groups anyone with significant means and there is a meaningful population that is, or at the very least should be, concerned with asset protection.
Can you afford the cost of long term care? At an average of $74,280 dollars per year not everyone can or even wants to pay such outlandish sums for essential healthcare services. Our Medicaid Trust strategies allow you to retain control over your assets, including your home, while still qualifying for Medicaid. We have seen many people forced into bankrucpty or divorce because of bad advice regarding Medicaid asset and income thresholds. Before making life-changing decisions regarding your assets you should read our guide to Medicaid Trusts first.
Other Trusts: Beyond what's above, we have resource articles on Q-Tip Trusts, AB Revocable Trusts, Living Revocable Trusts, and Pet Trusts. We also have articles on Solo 401ks, Closely Held Insurance Companies, Risk Management and Tax Shelters.