Contact Us
Phone: 763-416-1672
Location
11148 Zealand Ave North
Champlin, MN 55316
Hours
Call Now: 763-416-1672
Ongoing market instability, which includes vulnerabilities in the real estate sector and abrupt shifts in investment outcomes, has made crafting an estate plan focused on safeguarding assets a challenging endeavor. With changes in estate taxes exacerbating this situation, it's now more critical than ever to seek guidance from experienced estate planning attorneys in Minnesota who can assist you in preserving your wealth.
Asset protection in Minnesota involves strategically arranging your assets and financial affairs in advance to shield them from potential risks and legal liabilities, such as bankruptcy or legal claims. Successful asset protection primarily hinges on thorough advance planning, encompassing safeguarding assets during your lifetime, tax planning for posthumous periods, avoiding probate, facilitating seamless asset transfer, planning for incapacity, and ensuring the fulfillment of your wishes after you pass away. However, it's important to be aware of potential issues associated with certain asset protection methods, including laws designed to prevent debtors from using asset protection to defraud creditors.
If you require assistance in safeguarding your estate or revising your asset protection strategy, the estate planning attorneys at Holker Law Offices, PLLC in Minnesota are available to help.
Contact Holker Law Offices to schedule a consultation with a lawyer today. 763-416-1672
When it comes to developing a robust asset protection plan, the assistance of a seasoned estate planning attorney in Minnesota is invaluable. Holker Law Offices evaluates all aspects of your situation, including your financial worth, objectives, and the nature of the assets involved, before recommending and implementing various asset protection mechanisms, such as business formation, property transfers, gifting, family limited partnerships, trusts, incapacity planning, and qualified retirement plans. Asset protection plans may also encompass mortgage agreements, insurance arrangements, and more.
After the creation and implementation of your asset protection plan, it's prudent to periodically review it with your attorney. Changes in both legal regulations and your personal circumstances can significantly impact the effectiveness of your plan. Situations that can influence your asset protection plan include shifts in estate tax laws, marital status changes (e.g., divorce or marriage), significant life events (such as the birth of a child or grandchild), real estate or business transactions, fluctuations in investment performance, and changes in health.
Your real estate properties, business interests, and financial accounts number among your most precious possessions. Outright ownership or putting those assets into a revocable living trust won’t protect them from your creditors. When you transfer your assets into a well-structured LLC, irrevocable trust, offshore trust, or partnership, it’s like putting a shield of invisibility around your assets. Holker Law Offices can help you maintain control, access, and full use of those assets without exposing them to the risk of seizure by your creditors. Additionally, asset protection can also help you minimize both estate and income taxes.
Contact us now!
By submitting this form, you agree to be contacted by our law firm, either by phone, text or by email.
Email:
info@holkerlawoffices.com
Phone: 763-416-1672
11148 Zealand Ave North
Champlin, MN 55316
Disclaimer: The information on this website is for general information purposes only. Nothing on this site should be taken as legal advice for any individual case or situation. This information is not intended to create, and receipt or viewing does not constitute an attorney-client relationship.
© Copyright 2024 | All Rights Reserved | Holker Law Offices | Powered By Convert It Marketing | Privacy Policy