ASSET PROTECTION

Georgia Asset Protection Lawyer


Contact Us Today!

Free Legacy Planning Meeting


Monday to Friday 

 8:30am - 12:00pm

Closed for lunch

1:00pm - 4:30pm

Closed Saturday, Sunday

Request a Consultation

Hero Request Form

Asset Protection Helps You Keep What You've Worked For

Asset protection for older Americans requires careful planning. Threats to your assets can come from a wide variety of sources, including future creditors, medical expenses, or unnecessary taxes. Many older people can fall victim to predatory creditors, whose sole intent is to bleed off your assets.


For asset planning to be effective, you will need the help of an experienced estate planning attorney — sooner rather than later. Nelson Elder Care Law, a Georgia asset protection lawyer, can provide you with further guidance on asset planning and answer questions you may have.


Note: Asset protection is only effective against future creditors, not present creditors!


This is why it’s important to begin planning soon. For your free consultation, please call Nelson Elder Care Law today.

Asset Protection Can Involve Your Whole Family

Please watch the video below to learn how senior asset planning is a strategy that involves the whole family. Then call us for a free consultation!

Involving Family in Your Planning

Play Video

Free Legacy Planning Meeting About Asset Protection

Call today to schedule yours!

(678) 904-0373

(678) 904-0373

How Can I Protect My Personal Assets?


There are several strategies you can implement to protect your assets before a claim or liability happens. While this is a complex topic, the following core asset protection ideas should be discussed when you consult with our estate planning attorney.

Jointly Held Accounts

It’s a common practice to add your children to your bank accounts as you age. The idea is to make the finances more accessible in case of an emergency. However, many people are unaware of the risk involved in this relatively simple practice.


The money you deposit into a joint account with your kids, senior parents, or business partner is at risk. How? Should a joint owner later become divorced, have a tax problem, or be on the losing end of a lawsuit, then your money in the joint account will also be at risk.


If you truly must have a joint account (e.g., so your responsible adult child will have access to funds for your funeral), then try to maintain the lowest account balance possible. By the way, the same advice applies to any type of asset you may own. For example, in situations involving Medicaid, it’s very important to make sure your assets do not exceed maximum levels of allowed value, specifically including your home.

Partnerships

As with jointly held accounts, when you operate a business venture as a partnership (whether formal or informal), you are responsible for the actions of your partner. A better solution may be creating a limited liability company (LLC) or corporation to give you a greater degree of legal protection from your business activities.

Small Businesses

If you run any type of business, create a business entity. This is an important step, because if you own a small business, such as a sole proprietorship, then all of your personal assets are at risk if you are involved in a lawsuit. Consider transitioning your business activities into a more formal entity, such as an LLC or a corporation to limit the risks to the business itself. This move can shield your personal assets.

I Want to Protect My Assets. What’s My First Step?

Contact Nelson Elder Care Law at your earliest opportunity to schedule a free consultation. We can show you a variety of ways to protect your assets from future risks — both common and unexpected. We are happy to answer your questions so that you can make the right decisions for your personal situation.


Remember: Asset protection does not work after the fact. Please call us or request a consultation online today.

Request a Complimentary Consultation
Elderly Woman working on a computer
hibu-tm

So very grateful to have found Nelson Elder Care Law. Cindy and her entire team have been so helpful and attentive to my dad and making sure he was happy and had things set up the way he wants. Getting my dad's affairs in order was not the easiest decision to make because it made us think about a time when he would not be here, but after going through this process and understanding what could happen if we didn't have the legal process handled ahead of time, not doing this would have been a bigger mistake. We have everything done and have so much more peace of mind knowing that we are protected.

- Robbie U. on Google

hibu-tm

Great group of people to work with. My wife and I had our wills, living wills, healthcare, financial power of attorney, and HIPAA forms completed with them. They will also create a trust if you need them to. They made it easy, were very thorough, explained everything, and provided the physical documents as well as electronic versions. I'm glad we found this firm and we highly recommend them. Very happy with the entire experience.

- Steve L. on Google

Share by: