Asset protection planning involves making prudent decisions today to protect yourself, your business, and your hard-earned assets from loss due to lawsuits, creditors or bankruptcies. Nevada has some of the strongest asset protection laws in the country. As a Las Vegas asset protection lawyer, Lizette employs several unique Nevada Asset Protection strategies, including the Nevada Series LLC and Nevada Spendthrift Trust (also known as the Nevada Asset Protection Trust.)
America is the land of opportunity, which in our litigious society means the chance for someone to take your assets away from you and your children. Asset protection planning will ensure your assets are protected from lawsuits, divorces, creditors, and long-term care issues, but it has to be set up in advance to work.
If you're contemplating leaving your kids' inheritance to them outright, ask yourself if it's possible that they might:
The manner in which you leave your property to your children will determine how much asset protection they will have. This may be especially important if your children are doctors, lawyers, landlords, or business owners, since these professions are subject to a larger proportion of lawsuits. We help clients create lifetime trusts for their children, so their children will be protected from divorcing spouses, creditors, and lawsuits.
What if you are a senior, a professional, a business owner or have accrued significant assets? Before you can leave assets to your children, you must first have something left to leave.
Are your assets protected if:
Many insurance policies will never pay if you are the cause of the incident that results in a claim against you. Also, many people cannot afford or qualify for long-term care insurance. Proactive planning can help you keep your hard-earned assets for you today and for your tomorrows.
We help clients set up irrevocable trusts and business entities to protect their "nest egg" funds and other assets. For example, we can set up offshore trusts, Nevada Spendthrift Trusts, iPug™ trusts, single or Series LLCs, corporations and limited partnerships. Contact Sundvick Legacy Center to learn how to protect your family.
An offshore trust and a Nevada Spendthrift Trust allow you to be both the income and the principle beneficiaries. While offshore trusts are ideal for liquid assets, a Nevada Spendthrift Trust can help protect real property and other assets located in Nevada. Because an iPug™ trust allows the client access to income only, it is ideal for clients who are professionals, business owners, own real estate or other assets outside of Nevada, or who are interested in long-term care planning in the event they need a skilled nursing home facility after the age of 65 years. An iPug™ trust can allow access to principle to the client indirectly if set up properly. A comprehensive plan will utilize strategies and tools best suited for each client.