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Clearwater Estate Planning & Probate Attorney > Largo Asset Protection Attorney

Largo Asset Protection Attorney

You work all of your life to earn a good living, buy a home, and put away savings for your retirement. Yet a sudden crisis can quickly lead to a financial crisis. For example, if you will one day require nursing home care, you may find your assets are not enough to pay the annual costs, requiring you to seek assistance through Florida Medicaid.

Without advance planning, your lifetime of assets can be wiped away in an instant. A Largo asset protection attorney can work with you to help ensure that does not happen. Attorney William Rambaum has over 35 years of experience in this area. As a Florida Bar Board Certified Elder Law Specialist, he understands the legal means that a person can use to help protect what they have, not just for themselves but for their families and other potential beneficiaries as well.

You Need an Asset Protection Plan Now

Asset protection is often associated with shielding a person’s property from potential judgment creditors. To give a simple example, if you set up a limited liability company to run your business, then your business creditors cannot touch your personal assets. You can also use a properly shielded trust to protect certain property from creditor claims.

But asset protection is especially important for Pinellas County seniors who may one day need to apply for public benefits like Medicaid. Florida Medicaid rules drastically limit the amount of “non-exempt” assets a person can own and still qualify for benefits. This means that you need to start thinking about asset protection now, and not when you are knocking on the door of a nursing home looking to get in.

Some of the asset protection matters our office can advise you on include:

  • how to turn your non-exempt assets into assets that will not count against you for Medicaid eligibility purposes;
  • transferring assets to your spouse;
  • making gifts to friends and family members without running afoul of Medicaid’s 5-year “lookback” rule; and
  • how to use asset protection trusts to protect your property.

Asset protection is not something you should treat as a “do it yourself” project. The laws governing asset protection are quite complex and can easily lead to problems if not followed to the letter. You will benefit immensely from working with an experienced Largo asset protection attorney who can explain the law to you and make sure you are on the right path.,

Contact a Largo Asset Protection Attorney Today

Asset protection is not about “hiding” what you own from creditors or the government. It is about ensuring that your life’s work is not thrown away frivolously. Many Florida seniors find themselves between a rock and a hard place when it comes to their assets because they did not take the time when they were still of sound mind and body to plan for the future. Do not let that happen to you. If you would like to speak with a Largo asset protection attorney, call William Rambaum today at 727-781-5357 to schedule an appointment.

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