At The Heritage Law Center located in eastern Massachusetts, we know how much work you’ve put in to accumulate the assets that make your family secure, and how eager you are to protect both your nest egg and those you love. While you doubtlessly want to build on that foundation and increase your financial well-being, you need the peace of mind that comes from knowing your assets are protected now and in the future. Our estate planning team understands that you, like all of us, feel even more vulnerable during the sharp economic downturn caused by the pandemic.
As a savvy asset protection attorney, Matthew Karr, Esq., will use legal techniques to help preserve your wealth and safeguard your assets. His years of experience in the field of estate planning have provided him the in-depth knowledge and well-honed skills to strategize a comprehensive plan to protect your assets from excessive taxation, creditors, and a variety of other dangers. It’s important to be proactive about protecting your assets since the economy is expected to suffer for quite some time. By working with us, you’ll feel the relief of knowing your assets and your family are financially safe.
What Is Asset Protection and What Are We Protecting Your Assets From?
Even seemingly well-protected assets — in strong boxes, carefully chosen investments, insured collections, stable bank accounts — while definitely safer than money stuffed in mattresses, may be at risk from a number of hazards, such as:
- Excessive taxation
- Unpaid debts
- Predatory lenders
- Scams or fraudulent schemes
- Long-term medical and nursing care costs
- Expensive probate
There’s no shortcut to protecting assets and this isn’t a do-it-yourself project. The process requires professional legal assistance by a knowledgeable asset protection lawyer like our own Matthew Karr, Esq. Matthew is savvy about how best to insulate your assets from forces that seek to diminish your estate and weaken your legacy. He’s successfully helped many clients by using living trusts, pour-over trusts, and other succession planning tools to safeguard their assets.
Our Comprehensive Knowledge and Unique Insight Regarding Asset Protection
At The Heritage Law Center, we pride ourselves on having keen insight as well as comprehensive knowledge of state and federal law. You can rest assured that the information we share with you is completely current. Also, we’ll debunk the misconceptions that abound in this area of estate planning. You should always consult with us before you give a gift to a friend or put property in the name of your corporation in order to avoid taxation or a large debt. In fact, even an inherited IRA may be fair game for creditors.
The Unpredictability of Life
You may feel confident that you’re too fit to need nursing care in the foreseeable future, too sharp to be taken in by a fraudster, and too friendly and flexible to be involved in a lawsuit. Think again! The unpredictable occurs with great frequency; the unimaginable can become reality in the blink of an eye.
Long-Term Medical or Nursing Care Can Quickly Deplete Assets
You don’t have to look too far to find evidence of people suffering catastrophic injuries while riding home from the drug store, or falling victim to heart attacks while having a quiet dinner with friends. A spinal cord injury, a stroke, multiple fractures — any one of these can suddenly alter your life and use up your savings. Also, unless you have properly prepared, your assets may prevent you from being eligible for government benefits. If you or your loved one needs long-term care in the future, it’s important to plan now for MassHealth eligibility so you can get the services you need without losing your life savings.
Scams and Schemes Can Catch You Off Guard
Similarly, you likely know or have read about someone intelligent who was fleeced out of a large sum of money by a scam artist or con man. Successful con artists can skillfully overcome an intelligent person’s defenses and get that person into an emotional state that overrides logical thinking. Don’t be so sure that you wouldn’t succumb to doubt and fear during a 3 a.m. phone call if someone claiming to be a police officer says your grandson is in jail. By the same token, don’t convince yourself that your intuition is so keen that you could never be victimized by a seemingly loyal partner who turns out to be an embezzler.
In our extremely litigious country, it’s also unwise to bet on the fact that you’ll never be sued for an enormous amount of money by another driver, a neighbor, an employee, or a business competitor. If you’re a professional, you may well be sued by a student, a patient, a legal or financial client, or even an assistant. Every day, individuals’ life savings are put in jeopardy by lawsuits claiming:
- Malpractice liability
- Premises liability
- Car accidents
- Sexual harassment
- Fraudulent claims not easily disproven
- Domestic violence
The legal system doesn’t always dispense justice, so it’s essential to protect your assets from lawsuit verdicts that demand a large, unfair settlement.
What Our Asset Protection Attorney Can Do
As an accomplished asset protection attorney, Matthew Karr, Esq., can use a large number of preventive measures to keep your wealth, property, and possessions secure. We recognize that you come to us with a unique set of circumstances, so we make sure our asset protection strategies serve your particular needs. We’re also sensitive to your privacy, realizing that we’re being trusted with personal information about your funds and your family.
Free Estate Planning Reports
You can find more information about estate planning in our free reports: Estate Planning Essentials Report and Massachusetts Estate Planning: Saving on
Contact Our North Shore Asset Protection Attorney
Don’t procrastinate when it comes to keeping your estate intact. Not only will getting in touch with us give you a sense of security; it will ensure that those who depend on you can look forward to a brighter future. Contact our office now for a consultation.