Elder Law Group Blog

Fundamentals of Asset Protection Estate Planning

Dec 12, 2016 | News

While the goal of most Estate Planning is to simplify matters for your heirs by eliminating the need for probate proceedings and minimize or eliminate applicable taxes, asset protection Estate Planning takes a more comprehensive approach to the disposition of your assets following your death. Estate taxes don’t affect most people. At the federal level you would need to have more than Five Million Dollars in your estate; Washington’s estate tax level is just over Two Million. We want to help you plan your estate to protect you and your family and  avoid probate when it is not beneficial. We help you ensure that your wishes are carried out. Above all, we want to help you make things easier for your surviving spouse and children during what is likely to be a difficult and emotional time in their lives.
Asset protection Estate Planning involves many different components, depending on your desires and the needs of your loved ones. Some of the fundamental aspects of asset protection Estate Planning include the following:

  • Designating an attorney-in-fact to make medical and financial decisions on your behalf should you become incapacitated
  • Naming a guardian for your minor or disabled children should a guardianship become necessary
  • Documenting your wishes as to medical and end-of-life decisions should you be unable to make those decisions due to incapacitation
  • Choosing a personal representative to handle all matters related to your estate
  • Simplifying your estate to the greatest degree possible
  • Protecting assets for your beneficiaries where appropriate through creation of an asset protection supplemental needs trust

In the end, our goal is help you achieve all of your objectives with respect to your assets, future care of your heirs, and matters related to the end of life. We not only have unparalleled legal skills in this area of the law, but we have personal experience in handling our own parents’ matters. The bottom line is that we are more than your lawyers; we care about what happens to you and your loved ones.
All too often, individuals fail to take the steps necessary to preserve their assets, many times because they are unaware of the need to do so. At Elder Law Group PLLC we don’t focus just on basic Estate Planning. We focus all of our efforts on protecting the assets of those who have worked so hard to earn them. We have the skills and knowledge to consider all aspects of your situation, explore available options, and help you create the asset protection estate plan that is best calculated to meet your goals. Call Elder Law Group, your Washington and Idaho asset protection Estate Planning attorneys at (509) 468-0551 and schedule an appointment with us today.
 
 

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