Asset Protection Planning Attorney in York, Nebraska.

 Guarding Your Assets from Creditor Claims

 Asset protection planning is a critical component of estate planning for individuals who wish to safeguard their assets, businesses, and properties from creditors, bankruptcy, litigation, and other forms of loss. This type of planning is particularly advantageous for business owners, professionals, and those with substantial assets.

 At Clinch Law Firm, LLC, we offer comprehensive individual and business asset protection planning services in York, Nebraska. Our attorneys bring extensive experience in all facets of estate planning and provide the personalized, attentive counsel you need. We understand that every situation is unique, and we tailor our services to meet your individual concerns and goals.

 Reach out to us today to learn how we can assist you with your asset protection goals. Call (402) 908-5699 or email at jerry.clinchlawfirm@gmail.com to get started.

What Is Asset Protection Planning?

Asset protection planning is the process of legally guarding assets—such as real properties, businesses, income, etc.—from various forms of loss. Essentially, asset protection planning allows you to take steps now to protect your assets in the future.

 While everyone’s needs are different, there are several primary goals of asset protection planning:

  •  **Exempting Assets:** In Nebraska, several methods can exempt specific assets from creditors, including the homestead exemption, life insurance and annuities exemption, and others.

  • **Reducing Taxes:** Proper asset protection planning can also help reduce or eliminate inheritance and/or estate taxes, both of which can significantly impact individuals and families.

  • **Limiting Liability:** For business owners, sole proprietors, and entrepreneurs, limiting liability and managing risk are significant concerns.

Taking important steps now can help ensure that your assets, your business, and even your livelihood are all legally protected from creditor claims while also limiting your liability and ensuring the continued protection of your assets after you pass.

Who Needs Asset Protection?

As a general rule, anyone can benefit from asset protection. No one is immune from risk or loss, including litigation, bankruptcy, or creditor claims. However, in some cases, asset protection may be more prudent for certain individuals. 

People who may benefit most from asset protection include:

  •  High net-worth individuals

  • Those in high-liability professions

  • Business owners

  • Sole proprietors

  • Entrepreneurs

  • Retirees

  • Individuals with significant debt

  • People facing possible government liability

At Clinch Law Firm, LLC, our York asset protection planning attorney can sit down with you to discuss the specific details of your situation and determine whether you may benefit from asset protection. We are happy to answer any questions you may have and provide clear, honest counsel and advice based on years of professional legal experience.

What Is Involved in Asset Protection Planning?

Asset protection planning is proactive, meaning you and your attorney work together to implement a variety of protections meant to guard your assets now and in the future. The techniques used to accomplish this will likely depend on your unique circumstances. For example, the asset protection needs of a business owner will differ from those of a doctor, which will differ from those of a debtor. 

Asset protection planning in Nebraska typically involves some combination of the following:

  •  Utilizing various available exemptions

  • Establishing a trust

  • Obtaining insurance

  • Reviewing existing insurance policies

  • Investing assets

  • Obtaining or managing a 401(k) or IRA

 Trusts are often utilized to protect assets, as they allow the trustee to retain control of assets for a specified period or until death, at which point assets transfer to designated beneficiaries.

 There are several types of trusts that may be useful for asset protection. Our attorney can help you determine whether a trust is the right option for your specific situation and, if so, can assist you in identifying the appropriate type of trust to establish. Clinch Law Firm, LLC is well-versed in Nebraska’s laws and can help you create a solid plan designed to protect your assets and beneficiaries while avoiding future trust litigation.

 

Planning for the future can not only protect you and your assets but also provide unparalleled peace of mind right now. At Clinch Law Firm, LLC, we understand the importance of developing personalized asset protection strategies that meet the individual needs, concerns, and goals of our clients. Our attorney are here to provide the assistance you need at any stage of the planning process.

 

Contact us today to schedule a consultation and begin protecting your future. Call (402) 908-5699 or email at jerry.clinchlawfirm@gmail.com