Asset protection planning is an important step in the process of planning for the future of your loved ones, regardless of how old you may be and/or your current health. This is because proper asset protection planning can ensure that your surviving spouse, children or other loved ones will have access to the financial support they may need while minimizing the potential stress and problems they may have to deal with after you pass.
At JR Phillips & Associates, PC, our Centennial asset protection planning lawyers are committed to helping you devise the best asset protection plans for the future. While we can help you create trusts and take advantage of other estate planning tools, we can also effectively assist you and your loved ones in administering these agreements and successfully resolving any possible disputes that may arise from them.
Asset Protection Planning Tools and Options
There are a number of different asset planning tools and options that are available, depending on your financial situation, your needs and your wishes for the future. Some of these can include (but are not exclusive to):
- Domestic and foreign asset protection trusts – Also referred to as self-settled spendthrift trusts, these types of trusts provide asset protection and can offer financial support to beneficiaries while protecting the assets of the trust from a beneficiary’s creditors.
- Credit shelter trusts – Also known as by-pass trusts or family trusts, these trusts can shelter or protect certain assets from federal estate taxation obligations.
- Special needs trusts – With these trusts, the assets of the trust can be used to offer financial support to loved ones who may have physical or mental impairments without compromising these individuals’ eligibility for essential government benefits.
- Discretionary trusts – These types of trusts give a trustee discretionary power over how and/or when to administer the trust and/or distribute the assets of the trust.
From revocable living trusts to irrevocable trusts, there are various other types of trusts that can offer a broad range of asset protections to beneficiaries while limiting their potential costs – including in terms of future tax obligations – in the future.
Denver Asset Protection Planning and Trust Attorneys at JR Phillips & Associates, PC
When you are ready for assistance with asset protection planning, you can turn to the trust lawyers at JR Phillips & Associates, PC. We always bring a thoughtful approach to our clients’ estate planning needs, and we are dedicated to helping each of our clients and their families find the best asset protection solutions for them. This means that our clients can always count on us to provide them with:
- Personalized attention at every step of the process
- Competent, caring and professional representation
- The highest quality of estate planning legal services at affordable rates.
Our Centennial asset protection planning and trust lawyers are skilled at using a variety of traditional and innovative strategies and tools to create solutions that are specifically tailored to our clients’ needs and objectives. Our goal is to help our clients efficiently navigate the complexities of the law so they can develop effective, prudent solutions that will protect them, their assets and their families in the future.
You can learn more about your asset protection options by attending an initial consultation with one of our attorneys. To schedule this meeting, call us at (303) 741-2400 or email us using the contact form at the top of this page.
From our offices in Denver, we serve clients throughout the southwest and southeast Metro Area, including (but not limited to) people in Highlands Ranch, Littleton, Castle Rock, Parker, Aurora, Greenwood Village and Englewood.