Asset Protection Services in Fort Collins

Understanding Asset Protection

Asset protection safeguards your valuable possessions from creditors, lawsuits, and unexpected events. Legal strategies include:

1. Trusts: Separate legal ownership, making assets unreachable to creditors.
2. Business Entities: LLCs and corporations protect personal property from business liabilities.
3. Strategic Transfers: Transferring assets to family or trusted individuals can remove them from your name, but conditions apply.

The Benefits of an Asset Protection Attorney

An experienced asset protection attorney can:

1. Assess your assets to identify potential risks.
2. Tailor customized protection plans.
3. Handle legal documentation, ensuring compliance with laws.
4. Monitor and update your plan as circumstances change.

Types of Asset Protection Trusts

Asset Protection Trust

An irrevocable trust that safeguards assets for the settlor’s benefit. Creditors cannot access the assets due to the settlor’s relinquished ownership.

Medicaid Asset Protection Trust (MAPT)

A specialized irrevocable trust that protects assets from Medicaid estate recovery. It facilitates asset transfer and initiates the five-year lookback period for Medicaid eligibility.

Note: The settlor cannot be both the trustee and the beneficiary of a MAPT.

Choose an Experienced Fort Collins Asset Protection Attorney

Protecting your assets is essential. Contact a skilled asset protection attorney in Fort Collins to discuss your needs and secure your financial future.