PLANNING TO PROTECT YOUR ASSETS
Asset protection planning is a crucial step to take in safeguarding your hard-earned assets from being lost, inadvertently, because you overlooked something important. The most foundational level of asset protection is to plan for what will happen to your assets in the event of your incapacity or death because, at some point, you are 100% guaranteed to have one or both of those happen to you.
If you become incapacitated or die without proper planning in place, your assets may get trapped in the court system and they could be delayed in getting to your loved ones’ or even lost. If you have not reviewed your planning for death or incapacity in the past couple of years (or ever at all), you will want to call us to set up an appointment as soon as possible.
And, what about planning to protect assets from things that could happen during life, such as potential litigation, taking on too many debts, accidents or other mishaps?
First and foremost, buy insurance! Insurance can do two things an asset protection plan cannot: 1.) pay to defend you in the event a lawsuit is brought against you; and 2.) pay to settle any lawsuits. Bottom line: insurance says, “I love you.” And, if you need it, you’ll be glad you have it.
If you have a business, make sure you have fully separated your personal assets from your business assets, and that you are using your business entity properly to ensure that any business activities are kept within your business entity. Have a qualified attorney, like the ones at Kira Doyle Law, review any personal guarantees before you sign something that could create personal liability for you.
If you need more thorough asset protection, due to an upcoming marriage, or engaging in other risky behavior, please contact us sooner rather than later. Asset protection cannot happen after something happens! It must be set up ahead of time to be effective, so it must happen now if you want to plan right.
Protecting your assets takes know-how and the attorneys at Kira Doyle Law possess plenty of it! If you’re ready to develop a smart asset protection plan to protect you and your family’s future, call our office in St. Petersburg, Florida, at 727-537-6818, to schedule an appointment with one of our experienced Estate Planning Attorneys today to see what you can do to ensure your family is taken care of and properly protected.