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Protect Your Assets with Proven Legal Strategies

In New York, one of the most litigious states in the country, protecting your assets isn’t a luxury—it’s a necessity. If you’re a business owner, licensed professional, investor, or planning for retirement, your financial future could be exposed to lawsuits, creditor claims, divorce, or long-term care costs. An experienced asset protection attorney in New York can help you take action before those risks materialize.

At the Law Office of Inna Fershteyn, we specialize in legal asset protection strategies tailored to your individual and business needs. Whether you’re seeking to preserve generational wealth, minimize tax exposure, or qualify for Medicaid without depleting your estate, our legal team will build a custom plan using tools like irrevocable trusts, LLC formation, and New York-compliant Medicaid Asset Protection Trusts (MAPTs).

With over 27 years of experience, Inna Fershteyn is widely recognized as one of NYC’s top estate and asset protection lawyers, trusted by high-net-worth individuals and families across Manhattan, Brooklyn, Queens, Staten Island, and the Bronx. She is a leading voice on wealth preservation, regularly advising clients on how to remain compliant with state and federal regulations—from the New York Department of Financial Services (DFS) to the IRS asset protection rules.

Our goal is simple: shield your assets from legal threats, ensure your estate passes smoothly to your heirs, and give you total peace of mind.

Schedule a confidential consultation today by calling (718) 333-2395 or contact us online. Don’t wait until a lawsuit or creditor knocks on your door. Take proactive steps now to secure your legacy.

Asset Protection Planning in NYC is a proactive legal strategy that safeguards what you’ve built: your savings, property, and business interests. It protects against lawsuits, creditors, and other financial threats. This is more than just putting a wall around your wealth. It's about creating a long-term plan that adjusts with your needs and stays ahead of future risks.

An experienced attorney will apply wealth protection strategies in New York to help legally structure your assets in a way that minimizes vulnerability. These legal asset defense tools, such as trusts and LLCs, ensure you're protected today and prepared for tomorrow.

Wealth preservation also plays a critical role in estate planning, tax planning, and long-term care preparation. From business disputes to unexpected life changes, a strong asset protection plan offers peace of mind for you and security for the next generation.

Timing matters most. The best plans are made before any legal or financial issues arise. Once litigation or financial pressure starts, it may already be too late. That’s why New Yorkers who want to protect their wealth and legacy turn to trusted legal advisors early—before it's needed.

What is Asset Protection?

Asset Protection Rules for 2025

Who Needs Asset Protection?

Asset protection isn’t just for billionaires or Fortune 500 CEOs. If you fall into any of the following categories, strategic planning is not only advisable, it’s essential:

Business owners and entrepreneurs
Physicians and other licensed professionals
Real estate developers and landlords
High networth individuals and families
Investors with significant holdings or market exposure
Divorcees or those considering divorce
Seniors planning for long term care and Medicaid eligibility
Anyone named in a lawsuit or likely to face litigation

Why You Need an Asset Protection Attorney

Securing your assets in New York demands more than just caution, it requires strategic expertise and legal knowledge. Whether you're facing general creditor threats or navigating the complexities of high-net-worth asset protection, our firm delivers tailored strategies that prioritize both preservation and compliance. Here's why enlisting the services of an asset protection attorney is not just advisable but essential:

Shielding Against Creditor Claims: A trust formation attorney can help shield your wealth from potential creditor claims, ensuring your hard earned assets remain protected.
Navigating Business Disputes: Whether you're a business owner facing partnership disputes or contractual conflicts, an asset protection attorney can provide invaluable guidance to protect your business interests.
Mitigating Consumer Debt Risks: Consumer debts can pose significant threats to your financial security. With an attorney’s assistance, you can develop effective strategies for liability risk mitigation in New York, helping you preserve your assets and avoid unnecessary exposure.
Addressing Shareholder Disputes: Shareholder disagreements can escalate quickly and endanger your company's stability. An asset protection attorney can help resolve disputes and protect your investments.
Managing Liability Risks: From accidents on your property to unforeseen legal liabilities, an attorney can assist in developing strategies to manage and mitigate potential risks effectively.
Ensuring Adequate Insurance Coverage: Understanding your insurance needs and ensuring adequate coverage is crucial. An asset protection attorney can assess your insurance policies to identify gaps and recommend appropriate coverage.
Protecting Against Divorce Proceedings: In the event of a divorce, your assets may be at risk. An attorney can help safeguard your wealth and assets during divorce proceedings, ensuring equitable distribution.
Navigating Tax Implications: Tax laws are complex and ever-changing. An attorney can help you navigate the intricate tax landscape to minimize tax exposure and maximize wealth preservation.
Preparing for Long Term Care Costs: Planning for potential long term care needs is essential to protect your assets from being depleted. An attorney can assist in developing strategies to preserve assets while ensuring access to necessary care.
Strategic Estate Planning: Proper estate planning is critical for asset protection and wealth transfer. An attorney can help you craft a comprehensive estate plan that minimizes taxes, avoids probate, and ensures your assets are distributed according to your wishes.

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 security attorney will analyze your case and recommend strategies designed to achieve your asset protection and wealth preservation goals. For over 27 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.

Meet Your NYC Asset Protection Attorney

Attorney Inna Fershteyn brings over 27 years of legal experience to the field of estate planning, elder law, and asset protection. As the founding attorney of the Law Office of Inna Fershteyn & Associates, P.C., she has built a trusted reputation for helping individuals and families safeguard their wealth from creditors, litigation, and long term care costs.

Ms. Fershteyn is consistently recognized for her excellence in the legal field, receiving multiple AVVO Client Choice Awards and maintaining top rated reviews from clients across New York. Her practice areas include:

Asset Protection Planning
Estate Planning and Trust Formation
Elder Law and Medicaid Planning
Probate and Estate Administration
Business Succession Planning

Inna Fershteyn earned her J.D. from Benjamin N. Cardozo School of Law and is an active member of the New York State Bar Association (NYSBA), the New York City Bar Association, and other respected legal organizations committed to professional excellence.

With decades of experience and a proven track record, Ms. Fershteyn is widely regarded as one of New York City’s leading attorneys in asset protection law.

Asset Protection in 2025: What You Need to Know Now

Asset protection strategies must evolve with the times and in 2025, the legal and financial landscape in New York has become more complex and more litigious than ever. Whether you're a business owner, real estate investor, or high-net-worth individual, understanding the current regulatory environment and risk factors is essential to keeping your wealth secure.

Key Legal and Regulatory Updates Impacting Asset Protection

FinCEN Beneficial Ownership Rule (Corporate Transparency Act):
All LLCs, corporations, and certain trusts must disclose ownership information to the Financial Crimes Enforcement Network (FinCEN). This increased transparency eliminates obscurity and adds regulatory requirements for those relying on entities for asset shielding.
DFS Enforcement Trends:
The New York Department of Financial Services (DFS) has ramped up scrutiny on trust structures, financial advisors, and estate planning transactions, especially in cases involving elder care or Medicaid eligibility.
IRS Targeting High-Net-Worth Estates:
Enhanced audits and tax enforcement efforts have increased exposure for NYC estates, requiring advanced planning techniques and documentation.

NYC-Specific Asset Protection Risks in 2025

Real Estate Litigation:
NYC courts are seeing a surge in lawsuits over property ownership, lease disputes, and investment partnerships. Individuals with rental or commercial real estate must isolate those assets to avoid personal exposure.
Divorce & Business Partner Claims:
Asset division in high-income divorces and shareholder disputes continues to be a top cause of wealth loss in New York especially in closely held businesses without succession plans.
Fraudulent Transfer Litigation:
Judges are increasingly reversing late stage transfers made before lawsuits or divorce proceedings. This reinforces the importance of proactive, not reactive, planning.

Traditional vs. Modern Asset Protection Approaches

Strategy Type	Traditional Tools	Modern 2025 Tools and Tactics
Trust Structures	Revocable Living Trusts	Medicaid Asset Protection Trusts (MAPTs), and Domestic Asset Protection Trusts (DAPTs)
Entity Use	Single LLC	Layered LLCs and Irrevocable Trusts with FinCEN-compliant filings
Offshore Planning	Foreign Trusts and Accounts	Bridge Trusts, Offshore Holding Companies with U.S. compliance
Asset Transfers	Basic gifting or last minute transfers	Equity stripping, premarital planning, documented transfers

When Is the Right Time to Start Asset Protection Planning?

The right time to start asset protection planning is well before any problems arise. Asset protection is most effective when put in place proactively, before there are any lawsuits, creditor claims, divorce proceedings, or long term care issues on the horizon.

Waiting until you face a legal threat can be extremely risky. If you attempt to transfer or restructure assets after a lawsuit is filed or a financial problem surfaces, courts may view your actions as fraudulent conveyance, meaning they can unwind the transfers and leave your assets vulnerable. Similarly, Medicaid enforces a strict five year lookback period, where any asset transfers made within five years of applying for benefits can trigger penalties or disqualification.

By planning early, you create a strong legal foundation using tools like trusts, LLCs, and gifting strategies that hold up against legal challenges. Early asset protection ensures your wealth is legally protected and gives you the best possible defense against future claims, lawsuits, or government recovery efforts.

Simply put: once a threat appears, it may already be too late. Starting today is the smartest and safest choice to protect what you’ve built.

What Strategies Are Used to Protect Assets from Creditors?

Asset protection involves a strategic combination of legal tools, customized based on your financial profile and exposure. At the Law Office of Inna Fershteyn, we implement a multilayered approach that may include:

Asset protection trusts: Utilizing asset protection trusts shields your assets from potential creditor claims, providing a secure foundation for your wealth.
Revocable and Irrevocable Trusts: By establishing revocable and irrevocable trusts, you can manage and protect your assets during your lifetime and ensure their distribution according to your wishes. A skilled trust formation attorney in NYC can help establish the right trust to shield your wealth, avoid probate, and maintain control over your estate.
Special Needs Trusts: Special needs trusts offer protection for the assets of individuals with disabilities, ensuring their long-term financial security while maintaining eligibility for government benefits.
Living wills and trusts: Through living wills and trusts, you can outline your healthcare preferences and designate trustees to manage your assets in the event of incapacity, safeguarding your interests and ensuring continuity in decision-making.
Guardianships: Establishing guardianships allows you to appoint trusted individuals to oversee the care and management of your affairs, ensuring protection and support in times of need.
Medicaid planning: Engaging in Medicaid planning helps navigate the complexities of healthcare coverage, ensuring eligibility while preserving assets for your loved ones.
Elder law planning: Elder law planning addresses the unique legal and financial challenges faced by seniors, offering comprehensive strategies to protect assets and secure peace of mind in later years.

These tools are most effective when customized and implemented well before any litigation risk arises.

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 a 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 a 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 a comprehensive estate plan for you and your loved ones, we always focus on the asset protection aspect and try to insulate you and your estate from future creditors and lawsuits.

How Does Asset Protection Fit into My Estate Plan?

Asset protection and estate planning are most powerful when combined. While estate planning determines how your assets are distributed after death, asset protection ensures those assets are still intact and legally shielded while you're alive.

In our office, we integrate asset protection directly into your estate plan by:

Using trusts to both control and protect assets.
Ensuring beneficiary designations and powers of attorney are aligned with your protection goals.
Structuring ownership and gifting to reduce taxable exposure.

This strategic approach prevents unnecessary tax burdens, avoids probate delays, and helps ensure your wealth is preserved for your loved ones not lost to lawsuits, creditors, or long term care expenses.

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 lawsuits 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.

Asset Protection Service Areas

Our asset protection attorney is proudly based in Brooklyn, NY, and serves clients across all five boroughs of New York City: Manhattan, Brooklyn, Queens, The Bronx, and Staten Island. We also work with individuals and businesses in major financial districts such as Wall Street, Midtown, and Lower Manhattan, as well as throughout Long Island, including Nassau and Suffolk Counties. To learn how the Law Office of Inna Fershteyn can assist with your asset protection needs, call us today at (718) 333-2394.

Asset Protection Articles

Estate planning and Asset protection work for clients

ASSET PROTECTION TESTIMONIALS

“I can't speak highly enough of the exceptional service I received from Inna Fershteyn in setting up my trust. From our very first meeting, she made the entire process smooth, clear, and stress-free. Her deep knowledge of estate planning and trust law was immediately evident, and she took the time to thoroughly explain every detail, ensuring I fully understood my options and made informed decisions. Not only was Inna highly professional, but she was also incredibly patient, attentive, and genuinely caring about my unique needs. She made me feel confident that my assets are properly protected for the future. Thanks to her expertise, I now have a comprehensive and well-structured trust that offers peace of mind for both me and my family. I wholeheartedly recommend Inna Fershteyn to anyone looking for a skilled, compassionate, and trustworthy attorney to guide them through estate planning, trust creation, and asset protection.” - Lina S.

“Inna is an amazing asset protection and estate planning lawyer who went above and beyond for us not just to prepare last Wills and testaments and NY power of attorney and Healthcare proxies but also introduced us to other estate planning and asset protection strategies. She was such a pleasure to deal with and we will be her clients for life.” - Raisa Z.

“If you need an elder law attorney or asset protection lawyer, Inna is the perfect match for you! She's very knowledgeable in her field and is thorough with her work. She is considerate of her clients as well as understanding. Ranging from writing wills and trusts to figuring out nursing home plans, Inna will be there for you every step of the way. She cares deeply for her clients and will answer any questions you have. Throughout her career, she has seen a variety of cases, which allows her to be the understanding and well-spoken person she is. I can guarantee that any client will be put at ease and reassurance when speaking to Inna. I would recommend her for anyone who wants consultation on elder law or asset protections!” - Hellen W.

“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.

“Inna is the most knowledgeable asset planning attorney in the 5 boroughs!!” – Sabrina M.

“I would like to recommend Inna Fershteyn as THE BEST Estate Planning and Asset Protection attorney in NYC! She is courteous, polite, caring and a very down to earth attorney. When I was looking for an Elder care attorney, I googled “the best elder care lawyer in Manhattan” and her firm came up first. She cares deeply about each and every client and she is very down to earth and “normal”. She doesn’t think she is better than everyone else and she makes you feel at ease and not afraid to ask questions. She has the most diverse clientele from every walk of life and very different backgrounds – she represents multi millionaires with multiple properties and regular people with few dollars in their pockets with equal passion and demeanor and never lets regular person feel unimportant. Her down to earth demeanor and positive attitude make coming to her office a very positive experience. I can honestly say that every client who came through her office will use her in the future. I know I did, as it’s my second review in 3 years. I recommend her highly and can only say – go have a consultation with her and you will know why she has so many great reviews.” – Natalia B.

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.

An entrepreneur in the construction materials industry faced mounting concerns about potential legal liabilities and creditor actions that could threaten personal assets. Recognizing the need for asset protection, the individual sought guidance from asset protection attorney Inna Fershteyn to safeguard their business and personal wealth. Upon assessment of the situation, Mrs. Fershteyn recommended a tailored approach involving business entity structuring and asset separation. Working closely with the client, she facilitated the restructuring of business operations to establish a separate legal entity, such as a limited liability company (LLC) or corporation, creating a distinct barrier between business affairs and personal finances to mitigate the risk of personal liability exposure. Additionally, she emphasized the importance of maintaining proper corporate formalities to further strengthen asset protection measures. Through proactive planning and diligent implementation, the client successfully shielded personal assets from potential legal liabilities arising from business activities. This comprehensive asset protection strategy not only provided peace of mind but also enhanced business credibility and resilience, fostering continued growth and success in entrepreneurial endeavors. This case highlights the significance of proactive asset protection planning for business owners, highlighting the value of partnering with experienced professionals to secure financial futures with confidence.

In a recent case, a retired individual faced a sudden decline in health, prompting the need for long term care arrangements. With significant assets including a valuable property and substantial savings, the individual and their family sought assistance to protect their estate while ensuring access to necessary care. They reached out to our firm to devise a comprehensive asset protection strategy, recognizing the urgency of the situation. Working closely with the family, we swiftly initiated the process of creating the Irrevocable Trust and transferring ownership of the property and financial assets into the trust's name. This strategic move aimed to safeguard their assets and ensure eligibility for Medicaid benefits, should long term care become necessary. Despite the urgency, proactive planning enabled the family to secure their assets and prepare for potential long-term care needs. By taking timely action and seeking guidance from an asset protection lawyer, they avoided last minute complications and preserved their estate for future generations. This proactive approach, guided by Asset Protection Attorney Inna Fershteyn, provided peace of mind amid challenging circumstances and ensured that the individual's healthcare needs could be met without jeopardizing the family's financial security.

In a recent case, a retired couple sought our help to safeguard their wealth and streamline asset distribution to their heirs. They contacted us here at the Law Office of Inna Fershteyn and we recommended establishing a revocable living trust and implementing asset protection measures. Through proactive estate planning, the couple successfully preserved their wealth, minimized probate costs, and ensured a smooth transfer of assets to their beneficiaries. The importance of proactive estate planning is essential in securing assets for future generations.