You have worked very hard to accumulate what you have. Don't lose it because of a lack of planning. Protect what you have by hiring an experienced New York asset protection attorney.
What is Asset Protection? Asset protection is the process of safeguarding one’s wealth against those who may have claims against it such creditors and litigants and eventually passing it to your heirs with minimal taxes and without court proceeding.
Who can help? The Law Office of Inna Fershteyn and Associates, P.C. specializes in asset protection and in creditor protection of your estate. Our experienced asset protection attorneys will analyze your case and recommend strategies designed to achieve your asset protection and wealth preservation goals. For over 18 years we have been focused on legal preservation and protection of wealth of clients residing in NY, NJ, CT, FL, CA, PA and around the world and in safeguarding the assets for the families from attack by creditors and litigants.
WHEN SHOULD I START WITH ASSET PROTECTION?
The best time to start asset protection planning is before problems arise. If you’re a doctor, for example, you want to have your ducks in a row before you start taking on high-risk patients that could potentially sue you; the same goes for virtually every other profession or line of work. You don’t want to be in a situation where your assets are at risk - be it because of a lawsuit or any other reason - and you don’t have the legal structures in place to make sure that they are protected. The goal is to establish protection before it is needed, so you can never act too early.
WHAT IF I WAIT UNTIL I NEED ASSET PROTECTION?
Think of it this way - if a lawsuit is filed and a judge notices that you’ve been moving your assets around as if you were anticipating a negative judgement, odds are you’ll have little to no luck winning the case. That being said, if you wait until you actually need asset protection, it’s safe to say your chances of protecting your hard-earned assets are close to none if you end up losing your case or being in contempt of court.
WHAT ARE THE WAYS TO PROTECT MY ASSETS?
- Our experienced asset protection attorneys specialize in protecting your wealth from any creditors who may have claims against your assets in the future (Your biggest creditor is your former spouse. We protect your assets in the event of divorce)
- Our estate planning lawyers evaluate your assets and help you prepare for nursing home planning and long term care costs
- Our trust and estate attorneys focus on keeping your assets out of jurisdiction of the court
- Our best tax planning lawyers help minimize taxation of your estate
WHICH CREDITORS CAN SUE ME?
Asset protection is needed because:
- You can be sued for normal consumer debt. A bank loan could result in a claim against your assets.
- You can be sued by a partner or business associate.
- You can be sued as a business owner by any of your customers.
- You can be sued as a shareholder of the business by other shareholders.
- You can be sued as a corporate officer or director and can be held personally liable for the corporation’s liabilities in spite of the limited liability feature of the corporation.
- You can be sued for car accident or accident at your home involving a guest.
- You can be sued for lack of insurance. Liability insurance promises to provide coverage for some type of liability often provides only a limited coverage. Sometimes such coverage is negated by the numerous exceptions buried in the policy.
- You can be sued by a former spouse.
- You can be sued by Medicaid for nursing home costs.
I AM BEING SUED BY A CREDITOR. CAN A LAWYER PROTECT MY ASSETS?
Often our NYC asset protection attorneys and estate planning lawyers will get a phone call from potential client with the following question: "I am being sued by a creditor, can you attorney protect my assets? " At this point it may be too late to protect the assets that you have. We encourage you to speak with our experienced trust and estate attorneys before any litigation arises. When our estate planning attorneys prepare comprehensive estate plan for you and your loved ones, we always focus on asset protection aspect and try to insulate you and your estate from future creditors and lawsuits.
HOW CAN I PROTECT MYSELF FROM CREDITORS?
We use the following measures to protect your assets from creditors:
- Asset protection trusts
- Revocable and Irrevocable Trusts
- Special Needs Trusts
- Living wills and trusts
- Medicaid planning
- Elder law planning
SHOULD I COMBINE MY ESTATE PLAN WITH ASSET PROTECTION?
Yes! It’s important to complement a properly put together estate plan with a comprehensive asset protection strategy. You want your estate plan and asset protection structure to be completely in sync so that when the estate goes through probate and the assets need to be distributed, there are no legal complications with your trust.
WHY SHOULD WE HIRE THE LAW OFFICE OF INNA FERSHTEYN AND ASSOCIATES, P.C. AS MY ASSET PROTECTION LAWYERS?
Law Office of Inna Fershteyn and Associates, P.C. distinguishes itself from other estate planning law firms in New York and New Jersey areas in that our estate planning is integrated with asset protection recommendations. Our clients receive significant tax benefits by doing their estate planning early and are protected from creditors by preparing for potential law suits and restructuring their assets to avoid losses from future lawsuits. Our asset protection planning focuses on both tax savings and wealth preservation and safeguards client assets from potential divorce proceedings, creditor and litigation exposure ahead of time.
TOP ASSET PROTECTION LAW FIRM IN THE NY AND NJ AREA
Clients often describe attorney Inna Fershteyn as a "top asset protection attorney in New York and New Jersey" and she is regarded by her peers as "a leading authority on asset protection and estate planning." Additionally, she has received the AVVO client choice award for many years in a row. Her invaluable guidance can save you from unnecessary legal and business expenses, and prepare proper asset protection, elder law and estate planning for your family.
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ASSET PROTECTION TESTIMONIALS
“In the past I’ve had less than pleasant experiences with lawyers, but I can honestly say that Inna is an excellent attorney” I went to her to set up a trust and she was extremely helpful, friendly, and reassuring. Turnaround time was extremely quick, and she gave me excellent advice for the future. I would highly recommend her services to anyone looking to get their estate planning done.” - Christine P.
“There is no one I would trust more than Inna to handle my family’s estate planning. She explained everything to us and answered all questions in the appointment that we had with details. She clearly knows what she is talking about, which made us feel that much more comfortable hiring her. The paperwork was all done very efficiently, not to mention her services were very fairly priced. If I ever need legal advice or any services for me or my family, I definitely will be coming to Inna again!” - Jen K.
“Inna was really a pro. She made you feel at ease with the entire process and spoke to my family very frankly and openly giving us episodes from her experience how something could go wrong so they had a good idea what type of trust they need to set up. She was very organized and delivered all trust and wills documents to us within 2 weeks as promised. I’ve never used attorney’s services before but will definitely be coming to Inna for my legal needs.” - Julia V.
“5 stars is not enough for this law office. Inna helped me with extremely complicated problem when no one else could. We needed emergency estate planning and asset protection done to protect us from creditors and Inna was able to do irrevocable trust and transferred our properties to the trust within 2 weeks time. I can not recommend her highly enough for any estate planning and asset protection law.” - Klavdiya Polovetskaya
“After searching around for recommendations for an attorney who could help me with my estate planning and asset protection needs, several people recommended Inna's office… I will definitely return for all my future needs, and would recommend her office to anyone who wants to clearly understand what is being done for them.” – Blake B.
“As a Family Law attorney I refer clients to Law Office of Inna Fershteyn for Estate Planning, Asset Protection and Medicaid planning. I always get positive feedback from my clients. I recommend her highly for any trust and Estate planning work.” – Natalia G.
ASSET PROTECTION CASE STUDY
An 85 year old woman within the final stages of dementia was no longer able to stay at home as her symptoms and her care were too severe for home health aid to cover. She needed to go to Nursing Home and obtain Nursing Home Medicaid. Her daughter came to our office for advice and mainly to protect her mother's primary asset - a house in Brooklyn worth over $950,000. We proceeded to create an Irrevocable Trust and place her house as well as the bank account in the trust and asked us to protect her home from nursing home costs. However, since the client's daughter contacted us too late, she had to wait for 5 years before her mother could go to a nursing home because of the 5-year "look-back" provision that applies to all NY Nursing Home medicaids. In the meantime we were able to apply for NY Community Medicaid and obtain a maximum number of hours 12 during the day and 12 during the night for 4 different Home Care Aids to take care of the dementia patient. The client and her family made the correct decision of reaching out to an Asset protection lawyer Inna Fershteyn before actually placing the 85 year old mother into a nursing home and were able to save the house from nursing home costs.