Or, in other words, “What you need to do for your nest egg”.
You’ve worked hard for your entire life and want to have a nest egg for your loved ones after you’re gone. What many people don’t realize is that protecting your assets can often be as difficult as accumulating them.
However, there are some things you can do to preserve what’s rightfully yours. First, and most importantly, never try to avoid paying your taxes. It’s not worth it.
Also, avoid a “one size fits all” solution for protecting your assets, since everyone has a unique financial situation.
“Strategies that work well for one person could be harmful for another person. This means you’ll have to do some work, but it also means you’ll know exactly what your asset protection strategy is and that it’s right for you.” says Anne Desormier Cartwright of Elder & Estate Planning Attorneys PA.
Take a proactive approach to asset protection and start early in life. Use it as a supplement to insurance, rather than a substitute. Another important thing to know is to never mix personal and business assets. Don’t pay personal expenses with a business account, and vice versa
An experienced estate planning attorney can help simplify your goals and create an asset protection plan catered to you.
Elder and Estate Planning Attorneys PA is a law office small enough to provide personal service but large enough to handle all of your estate and planning needs.