You’ve worked hard all your life for what you have, and you want to pass it on to your loved ones when you go. In the uncertain world we live in, keeping the wealth in the family requires comprehensive asset protection planning. Your loved ones will thank you when you implement wealth preservation strategies to protect your assets for yourself and the next generation.
At DCDM Law Group, our experienced Pasadena attorneys understand the subtle art and science of asset protection planning. We can help you protect your wealth from a range of threats, including litigation, over-taxation, and business creditors. Having a sound wealth preservation plan in place can give you the peace of mind of knowing you have done your best to provide for your family’s future.
Wealth Preservation and Asset Protection Planning
Various factors make asset protection planning more important now than it has ever been in the past. Adequate and affordable insurance coverage is becoming more difficult to obtain. More litigation is occurring, as legal liability theories expand. Potential threats to the assets you hope to leave to your loved ones can come from a variety of sources, including:
- State and federal tax authorities
- Court judgments
- Plaintiffs filing lawsuits
- Creditors and lenders
- Litigious ex-spouses or in-laws
A piecemeal approach to estate planning is no longer sufficient. Asset protection planning requires sensitive strategies and a holistic approach to close the gaps that estate planning methods of the past left open.
In crafting an asset protection plan to preserve your wealth for the future, we take a number of factors into consideration, including your business ambitions, shifting market conditions, and your personal priorities and values. Our wealth preservation strategies involve long-term planning, the minimization of taxation, and strategies to preserve your wealth for your heirs.
Strategies for Wealth Preservation in Pasadena
Our asset protection attorneys have detailed knowledge of financial instruments and strategies to help protect your assets. We have a range of wealth preservation tools at our disposal, including:
- Family gifting strategies
- Life insurance and annuities
- Retirement planning options
- Liability insurance protection
- Property ownership alternatives
- Limited liability business organization
- Traditional and contemporary trust strategies
In formulating strategies to preserve wealth, our goal is to help you identify and protect against potential threats to the assets you currently hold, and the income your business and investments are capable of generating in the future. Our approach to asset protection planning goes well beyond traditional estate planning.
Preserving the Wealth for Your Heirs
Many of us who work hard in life do it not only for ourselves, but also for the ones we love. We want our family and heirs to benefit from the fruits of our labors, not have them lost to business creditors, litigation, taxation, and other potential threats.
The top federal estate tax rate is currently 40%. With federal estate and income taxes and state transfer taxes, a large portion of your assets could go to taxes if the right strategies to reduce the burden are not put in place. A single litigious party could make a sizable dent in unprotected assets.
Why take chances with the assets and wealth you’ve worked so hard to accumulate? Contact DCDM Law Group for the legal help you need with wealth preservation in Pasadena.