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Asset Protection Planning

BELLOMO & ASSOCIATES, LLC

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We Help You Protect Your Assets

ASSET PROTECTION PLANNING

Unfortunately, protecting your assets is often a necessity in today’s world. With proper planning you can protect a portion of your assets in the event of a lawsuit, creditors, and from the costs of long-term care and this planning strategy is allowed by law. Asset protection planning is about protecting your assets from creditors and predators during your lifetime and for your family after your death, it does not provide any tax planning or protection strategies. Keep in mind that unless you have assets in excess of the federal estate tax credit, currently over $12 million per person in 2022, tax planning is likely not the most important consideration for you. 

LAW ALLOWS YOU TO PROTECT YOURSELF

The important thing to remember when you are creating a plan to protect your assets that you do so with the assumption that at some point your plan very likely will be scrutinized by creditors or long-term care providers via the PA Department of Human Services. Guidance from a qualified attorney is essential to make sure the plan is sound and to provide you with peace of mind regarding the effectiveness of the plan. We want you to get your “stuff” to your beneficiaries in the way you want while still protecting those assets.

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