What Is Asset Protection?
Asset Protection ensures the hard-earned assets you have built over your lifetime are not susceptible to being lost to over-taxation, the high cost of long-term care (including nursing homes), unexpected lawsuits, or divorce. It’s about making sure that the things you own, like your savings or your house, are kept safe from things that could try to take them away while you are alive, so that after your death they are available for your loved ones.
Planning for tax protection is very different from planning to protect from other creditors and is best left to tax experts. The federal estate tax credit is currently $13,610,000 (2024), possibly higher for married couples, and therefore tax planning is not a major concern to most people.
I am attorney Angela Davis-Morris. At Davis-Morris Law Firm, I can help you safeguard your lifetime of assets from being dissipated by lawsuits, nursing homes and divorce. Call today to discuss your specific concerns.
Should Planning For Long-Term Care Costs Be Part Of My Estate Plan?
You have worked hard to earn and save assets over your lifetime. You should be able to pass them along to your family members or other loved ones. But, if you need long-term care, your savings can be gone in a matter of months. Long-term care is expensive and your assets can be quickly depleted unless you take the proper steps to protect them. Asset protection planning for long-term care (or Medicaid Planning) can be one of the most important parts of your estate plan.
Prepare For The Future Today
From my office in Hattiesburg, I help Mississippi residents prepare for these challenges, including protecting their assets as they look toward the future. Whether I’m assisting you in building a basic estate plan or navigating a long-term care asset protection plan, I can answer your questions, provide guidance and help you feel confident you are prepared and that your assets are protected and available to pass on to your loved ones.
To schedule an initial consultation and begin taking the first steps toward Medicaid eligibility, call at 601-602-8874 or reach out to my firm online.