As you know, most people will create an estate plan at some point in their lives. Not only can doing so protect your assets and ensure that your loved ones receive them upon your passing, but it can also protect your assets and benefit you while you are alive. Though most of us are not particularly eager to go through the estate planning process, as it can be quite involved, doing so may be one of the smartest decisions you’ll ever make. One facet of estate planning is asset preservation, and asset preservation can help you get the most out of your financial situation if done correctly. Here at JDKatz, P.C., our experienced Maryland estate planning attorney can guide you through every step of the process to help ensure you have an estate plan that works best for you and your family. Please continue reading to learn more about asset preservation and how we can assist you. Here are some of the questions you may have:
What is asset preservation/asset structuring?
When creating an estate plan, the primary goal is to ensure that your beneficiaries receive the maximum inheritance possible. To do so, there are various actions you may take. To start, one of the most important documents you can create to preserve assets are trusts. Essentially, trusts give those who create them the right to preserve private placement insurance, foreign annuities, family limited partnerships, and more.
What is an asset protection plan?
Essentially, an asset protection plan is something that can help an individual minimize his or her financial exposure by ensuring that they are prepared for the future. Since we all work different careers, have different interests/goals, and have different family structures, the asset protection plan you pick will be tailored to what you want and need in life. Your asset holdings, insurance coverage, and more will all impact the asset protection plan that is best for you. Our firm is here to help you through every step of the process to help ensure that your assets and your family are well-protected into the future. If you have any further questions or you are ready to get started, simply pick up the phone and give us a call today. We are always here to help.
Contact our experienced Montgomery County, Maryland firm
The attorneys at JD Katz have years of experience compassionately guiding clients in Maryland through the estate planning and administration process. Our firm also has experience with matters of elder law, business law, tax law, and litigation. For a legal team that will put your needs first, contact JD Katz today.
