New York Asset
Protection Attorneys
with Experience and
Knowledge to Achieve
Results with
Sophisticated Estate
Planning Techniques
in Asset Protection:
Asset protection is
an important part of
estate planning.
The ultimate goal
is to maximize the
value of assets,
while preventing
access by
unauthorized or
undesirable persons.
In theory, someone
can bring you to
court for whatever
reason. Asset
protection is the
art of creating
enough hurdles
against potential
litigants so that it
makes sense for them
to settle at cents
on the dollar,
rather than pursuing
litigation. Some
of the legal hurdles
the attorneys at
Maurice Kassimir &
Associates, P.C. can
facilitate for asset
protection include:
-
Transferring
assets to a
spouse or a
trust
-
Lifetime gifts
-
Setting up a
family limited
partnership
where a general
partner has
discretion to
limit
distributions of
partnership
income and
assets
-
Setting up a
domestic trust
in certain
states, where,
even though a
grantor is
potential
beneficiary of
the trust, the
trust assets are
still protected
from creditors
-
Using life
insurance as an
asset protection
vehicle (money
infused into
insurance and
retirement plans
are harder for
litigants to
reach)
-
“Indirect
prenuptials” can
be used to
protect assets
from the spouses
of children.
Without Going
Off-shore. . .
The attorneys at
Maurice Kassimir &
Associates, P.C.
have found that
their clients prefer
not to go “off
shore” to protect
assets. The firm
feels that the
client’s goals in
asset protection can
be accomplished with
on-shore vehicles
such as family
limited
partnerships, life
insurance,
retirement plans,
and the appropriate
use of trusts, such
as GRATs (Grantor
Retained Annuity
Trusts) and IDGTs
(Intentionally
Defective Grantor
Trusts).
Using offshore
trustees does not
always provide the
comfort level that
most Maurice
Kassimir &
Associates, P.C.
clients desire.
Moving the domicile
of trusts to other
states in the U.S.
can save state and
local taxes and
often proves to be a
valuable asset
protection strategy.
Our attorneys
specialize in
discovering creative
solutions to your
particular estate
planning and asset
protection problems,
and implement them
accordingly.
Contact them now
to see how they can
meet your estate
planning goals. |
