What YOU should Know about Asset Protection

Posted:  Saturday, September 22, 2018 - 7:30am

Story Location:
66 Elm St.
Camden  Maine  04843
United States

Some of the Tools of Estate Planning

The tools used to reduce estate taxes vary according to the estate. The tools used will depend on a number of factors: the size of the estate; the willingness of the client to reduce personal control over a portion of her or his wealth; the age of the client; the marital status of the client. All of these factors and more are examined as part of our estate planning interview process to determine what the best possible estate planning solution is for the particular person. Depending upon the individual an Estate Plan may utilize legal tools as complex as trusts, limited liability companies, charitable trusts, charitable foundations, powers of appointment, disclaimers, or as simple as a will or joint will, selling or transferring title to real estate, and or a plan of gifting.
There is a wealth of information available online about Estate Planning. It is always advisable to learn as much as you can about the issues that effect your property. However, ultimately, these are complex issues in an area of law that changes rapidly. Before you act you should seek the advice of qualified counsel who you trust. A note of caution about estate planning and tax avoidance: there are planners out there who utilize estate planning methods that may be illegal.

Learn more about how to protect your assets from the government, Medicaid, creditors, and other predators by attending one of our free seminars.

Register today at https://penbaylaw.com/event_calendar_workshops/