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How Can I Tell if I Need to Protect My Assets?

How To Find Out If Your Assets Are At Risk

Do you know if your assets are at risk? If not,  how can you find out? Today we will cover a few of the many situations that could put your hard earned assets at risk.

First, Do you have a plan for long term care?

What if you needed nursing home care? In Michigan, that cost can be about $8,500.00 per month! Do you have a plan to pay for this care if you need it? What if your spouse needs it? Do you have a plan to protect your home, your vehicles, or your retirement? Did you know that your assets can be taken to pay for long term care, but more importantly, did you know that with careful and thoughtful planning your can protect those assets for your spouse or children?

 

Second, do you have a plan to protect from your children’s creditors?

Maybe you have a child who is a spendthrift? Or has a spouse that you just don’t quite trust.  Or has a business that could subject their assets to liability.  Did you know you can plan to protect your children and future generations from these potential threats and protect the wealth you have created?  It is important to plan ahead before the problem arises.  We can do that through the creative and effective use of estate planning tools.

 

There are many other scenarios that could put your assets at risk.  Call our office today to find out if we can help you protect your assets from any predators at (313) 945-9050.

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