Your business and assets can be at risk if you do not have a Pennsylvania asset protection plan in place. Our experienced Pennsylvania asset protection lawyers, work with individuals who are looking for sophisticated asset protection in Chester County and Montgomery County and in suburban Philadelphia.
For Pennsylvania residents, it can take years to accumulate assets and increase the value of your business and investments. Unfortunately, without an asset protection plan, you could lose everything or a significant portion of what you have worked so hard to achieve both for yourself and your family. And, when a child or grandchild inherits assets from you, will they be safe from litigation or claims from divorce? Creditors pursuing business claims or individuals looking to file a lawsuit against you can put your assets at risk, even while you are preparing to enjoy them. However, there are many techniques available to protect your assets and it is not a task you should try to do yourself. Each person has a different risk tolerance and different asset protection profile. That is why you need a knowledgeable Pennsylvania attorney with experience in the areas of asset protection who can help ensure that your sophisticated asset protection plan is done correctly and that it works when you most need it. Contact our office at (610) 933-8069 for expert legal assistance. We will work with your accountant and financial advisor to incorporate this asset protection planning into your estate plan.
Some individuals are at a greater risk of being involved in a lawsuit, depending on their occupations or net worth. However, anyone, including you, can be sued, whether it is for damages related to business conduct or a product or service, a claim related to an auto accident or an injury that occurred on your property. According to a study conducted by the Pacific Research Institute, Pennsylvania has very high litigation risks and monetary tort losses in comparison to the rest of the nation. Asset protection provides additional security for you and your heirs against lawsuits, divorce claims, creditors and exposure to personal or business liability. If a proper asset protection plan is put in place, potential creditors are often deterred from filing a claim and even if they do, it can be very difficult for them to seize your assets or collect judgments against you.
Sophisticated asset protection is a vital component of estate planning and may include setting up trusts, creating partnerships, corporations, and limited liability companies and implementing other successful strategies. There are many tactics available when it comes to protecting your assets and if done correctly these methods can also help minimize your tax liability and that of your heirs. In fact, there are a variety of legal techniques available that can provide an umbrella of protection for your heirs from judgments, divorce litigation and various claims against the estate. We offer representation and assist clients with the following matters:
- Pennsylvania Estate Planning with Wills, Trusts, and Related Tools and Strategies
- Divorce Protection in Your Estate Plan for Your Heirs, Children, and Grandchildren
- Grantor Retained Annuity Trusts (GRAT) for Pennsylvania Residents
- Qualified Terminable Interest Property (QTIP) in Pennsylvania
- Irrevocable Life Insurance Trust (ILIT)
- Qualified Personal Residence Trust (QPRT or QPERT)
- Beneficiary Controlled Trusts to protect your heirs
- Asset Protective Trusts In Pennsylvania and other states and jurisdictions
- Administering Estates in Chester County, Montgomery County and Suburban Philadelphia
- Avoiding or Dealing with Probate in Pennsylvania
The attorneys of Unruh, Turner, Burke & Frees, P.C. have helped thousands of clients over 30 years of practicing law. Our Enhanced Estate Planning™ program offers parents and grandparents the opportunity to protect assets from claims, carefully and strategically plan their estates, educate the next generation and provide ongoing advice and information to their heirs through technology and messages they create now to be delivered when appropriate.