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Protect Yourself: Asset Protection for You & Your Beneficiaries

Aug 4th 2014 at 3:26 AM

Any person with a healthy bank account has every right to be concerned about the wellbeing of their assets. The wealthier you are, the more you become a target for creditors and lawsuits. So, the question comes down to this: What have you done to secure assets for yourself, your family and your beneficiaries?

If you haven’t already contacted a real estate planner, now would be a good time. Here are a few things your real estate planner could help you do: Protecting Your Assets for Yourself

For the protection of your own assets, the first step would be to calculate your net worth, taking all your assets into account. Develop your financial plan from there, assessing retirement plans and goals. You will need the assistance of a team of certified financial advisors or RIAs. Once you have a financial plan in place, you can start planning your estate, ultimately leading to asset protection.

In order to successfully protect your assets in case of lawsuits, creditors or even divorce, you can use the Domestic Asset Protection Trust or DAPT. In addition to that, you could also make use of irrevocable life insurance trusts.

Asset Protection for Your Spouse

To protect assets for your spouse, you could create an AB Trust or ABC Trust. It can help to secure a steady estate plan for the benefit of your loved ones.

Protecting Assets for Beneficiaries

When your beneficiary eventually inherits your wealth and assets, how can you ensure that it remains secure from external influences? With the help of a Discretionary Lifetime Trust, the assets are held in a separate trust fund instead of with the personal assets of your beneficiary. This is done so that the amount is not left as a lump sum. Furthermore, you could also use the AB Trust or ABC Trust.

Whatever decision you make, ensure that you get assistance of the best certified estate planner!

For Professional Advice on Your Estates and Finances, Call Us!

Kollar Wealth Advisors is a company that specializes in financial advisory and asset protection services. In addition to that, they offer other services ranging from retirement planning, portfolio management, investment advisory services, estate planning, wealth transfers, etc. They come with over two decades of experience and a network of highly trained experts.

Visit Kollar Wealth Advisors and avail its free consultation service:



707 Skokie Boulevard

Suite 600

Northbrook, IL 60062

Phone Number:

(847) 291-4300

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