Talk to Weatherby & Associates to learn more about asset protection Glastonbury CT. There are steps you can take to avoid becoming the victim of lawsuits. Weatherby & Associates is a leading law firm based in greater Hartford. The firm advocates for wealth preservation, estate planning and asset protection. Because we live in a litigious culture, business owners, employers, high income earners and certain professionals can be targeted by unscrupulous plaintiffs. Because the legal system encourages plaintiffs to sue anyone who seems to have money, a net worth of over $250K may potentially target you for litigation.
Weatherby & Associates will advise you about protecting your wealth if you feel you may be at risk for targeted litigation. Estate Planning is important, but will not protect your assets from litigation. Risk Management measures may not offer sufficient protection, either. Although many families employ a Revocable Living Trust to avoid probate and minimize taxes on estates, this does not shelter one from lawsuits. Asset protection shields you from litigation and will complement your estate planning. Weatherby & Associates will discuss measures that can be taken to keep your personal assets out of reach from predators.
Trust Administration
Another method of preserving your wealth is with Trust Administration. You do not have to be wealthy to put your assets into a trust. But if you have a sizable estate, you should make arrangements with an experienced and trusted attorney. Assets which have been transferred to a trust are not probated like other assets. Instead, the trust assets are administered according to the terms of the trust. Depending on the intentions of the trust creator, trust assets may be distributed directly to beneficiaries, held and invested for later distribution, used to create scholarships or grants, or transferred to charitable organizations. Assigning a 'payable-on-death' designation to bank accounts allows your beneficiary to claim the money directly from the bank without probate court proceedings. For motor vehicles, Connecticut allows a 'transfer on death registration' on your motor vehicle. This way, your beneficiary automatically inherits the vehicle upon your death.
The experienced legal team at Weatherby & Associates will offer proactive solutions for protecting your assets and preserving your wealth. Every family has its own financial goals, and Weatherby & Associates can help sort out the best strategies for you. You can depend on our years of experience. For more information or to schedule a consultation, call us at 860-769-6938 today.
Our service area includes the towns and surrounding areas of Avon CT, Farmington CT, Granby CT, and Suffield CT, in Hartford County CT.
