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Whether to insure that a client's assets are under management, through a revocable or irrevocable trust or a limited liability company (both within New York or outside New York) or that a client's assets are protected from medical creditors but permit a client to obtain benefits under New York Medicaid program for nursing home services or services at home, our lawyers will help develop and implement asset protection stratefies that will help our clients succeed. |
- What is Asset Protection?
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Asset protection means different things. In its simplest form, asset protection can take the form of a simple living or revocable trust for the client as part of basic estate planning, with the "protection" coming from the client consolidating his or her assets in a trust and choosing a family member, friend or trusted advisor to be a co-trustee or a successor trustee of a trust. In a more complext form, Medicaid Planning, for clients who desire to obtain immediate or future benefits under New York's Medicaid program, often permits clients to protect assets from creditors. In its most complex form, there are many and varied complex strategies, including different types of trusts, that help clients protect their assets from creditors.
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- The McCarthy Fingar Approach in Asset Protection Planning
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In developing Asset Protection Planning options, McCarthy Fingar's Trusts and Estates lawyers first spend the time to collect information and documents from a client. Asset Protection Plannning options involve different levels of risks and benefifts and have numerous tax and nontax consquences. Our role is to evaluate and present options to the client so that the best possible judgment is made by the client. |
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McCarthy Fingar's Asset Protection lawyers are dedicated
to our clients' success. If you think you may require our
assistance or have any questions about options, please contact Gail M. Boggio by email (gboggio@mccarthyfingar.com) or phone (914-385-1026), Lisa
Newfield by email (lnewfield@mccarthyfingar.com)
or phone (914-385-1032) or Frank W. Streng by email (fstreng@mccarthyfingar.com) or phone (914-385-1022). |
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