Anyone who has or hopes to accumulate any wealth, even modest savings, and who might face liability, can benefit from an asset-protection plan. It’s possible to protect your assets from creditors without planning to, but that’s not a plan. We can quickly review your situation to determine whether you are taking advantage of the asset-protection options available to you.
For many people, awareness of the types of assets that are exempt from the claims of creditors may be most of the planning they need. For example, most retirement assets (such as a 401(k) or 403(b) plan and an IRA) are exempt from most creditors.
Many of our clients benefit from our planning advice. It’s best given and taken before an unexpected liability comes to visit, but many don’t think to ask until the liability is on the doorstep. We’re here to help either way.
An asset protection trust, available under Michigan law since 2017, can afford more complete and sophisticated protection for a larger estate. This is not for everyone, but let’s discuss whether it may work for you.