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Category Archives: Asset Protection

AssetLiab

Who Is Responsible for Remaining Debts after Death?

By William Rambaum, PA |

Estate planning is primarily about settling two issues: distributing property to surviving heirs and limiting one’s exposure to liability for death-related taxes. In line with the second issue is the question of settling a loved one’s remaining debts after death. All estates which pass through probate, which is a substantial number, must provide notice… Read More »

ElderLaw

Timing and Effective Asset Protection

By William Rambaum, PA |

Asset protection is not something most people generally think about until a problem arises. The problem with this approach, though, is that once claims are made against a company or individual, the options for limiting exposure are quite constrained, and the financial consequences dire. Irrevocable trusts are one method of protecting assets from lawsuits… Read More »

AssetP3

How Trusts Can Serve a Number of Asset Protection Goals

By William Rambaum, PA |

No one wants to see their hard-earned money and property used to pay off creditor claims, a risk both personally and for potential heirs. Asset protection measures can mitigate this risk.  While transferring assets for the express purpose of thwarting a pending creditor’s claim may be ineffective, it is possible to use asset planning… Read More »

BlendedFam

Creditors, Death, and Protecting Your Child’s Inheritance

By William Rambaum, PA |

Few people move through this world completely free from debt, and debt does not automatically disappear when someone dies. Trying to preserve as many assets from creditors as possible is everyone’s goal, and this desire typically extends to even to a beneficiary child’s creditors, who may try to reach their inheritance in the event… Read More »

ElderLaw3

Living Trust vs. Medicaid Trust: How Relinquishing Control Can Preserve Your Estate

By William Rambaum, PA |

People spend their whole lives working and saving to build financial security into their retirement years, but this period of life often requires individuals to rethink the structure of their finances.  The average person associates estate planning primarily as a way to arrange for the distribution of assets after death, which is a big… Read More »

AssetP2

Why Everyone Needs to Consider Asset Protection

By William Rambaum, PA |

The general goal of thoughtful and carefully-crafted estate plans is to leave a legacy to those left behind that represents the hard work performed by the deceased to amass the assets left to distribute and to ease the financial burden of loved ones once a person is gone.  Proper estate planning documents are vitally… Read More »

Medicaid

Asset Transfers Related to Medicaid Qualification

By William Rambaum, PA |

Entering a nursing home is a decision few people consider lightly or happily, but it is one of the potential realities of growing older. Few can afford to pay the staggering costs of nursing home care without assistance, and most people turn to Medicaid to provide financial assistance to help cover this expense. However,… Read More »

ElderLaw

When Medicaid Planning and Asset Protection Goes Wrong

By William Rambaum, PA |

With people generally living longer, healthier lives, distant from established family and friends, many do not have a support system in place in the event of a serious medical situation.   Unfortunately, seniors are often lured by mailings and advertisements related to financial planning and long-term care planning, frequently sent by insurance agents, Medicaid planners,… Read More »

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