A Good Estate Plan Can Protect Your Assets

It can be difficult to protect your assets in our litigious society. However, the use of good estate planning tools can make it easier. It is extremely important for the wealthy to protect their assets from potential creditors, according to the Wills, Trusts & Estates Prof Blog in "Asset Protection Measures." Protecting assets from potential creditors is not an inherently difficult task. Estate planning attorneys have many ways to assist clients in doing that. A trust is typically the best option for doing this. However, there are other ways to protect assets, including utilizing retirement accounts and college savings plans. As a last resort, insurance can be purchased to protect against creditors. An estate planning attorney can guide you in setting up an estate plan that fits your unique circumstances and protects your assets. Reference: Wills, Trusts & Estates Prof Blog (May 31, 2017) "Asset Protection Measures."