Pre-Plan To Protect Your Assets

When retirement is approaching or age is increasing, it’s important to have – or make – a plan to protect your assets.

Let’s face it, money cannot make you happy, but it surely can make you more comfortable as you grow older. But if you don’t plan to protect your assets, it could disappear quickly.

Even with minimal assets, it is my goal to create long-term care plans that help my clients maintain quality of life while simultaneously being able to access quality care with the assets they have.

The truth is that the more money you have and the longer you can make it last, the longer you’ll be able to maintain a higher quality of life. The important thing to remember is not to wait until you are in physical or cognitive decline to start attempting to protect your assets.

We can do so much more when we are fortunate enough to be able to assist our clients prior to being admitted to a nursing home. The luxury of helping clients during what we refer to as a pre-planning situation, we can utilize many more asset protection tools.

Once you or your loved one is admitted to a nursing home, we consider this a crisis situation. That’s why it’s important to get them to think about how to protect their assets before that point.

Even during this time we can still consider the traditional asset protection tools and government assistance benefits, such as VA Benefits and Medicaid benefits. For married couples, we can often save 100% of the assets and obtain Medicaid benefits within if we are contacted and can get papers filed with 90 days. For single individuals, protection is more limited.

Without pre-planning and consideration of how to protect assets before a crisis, assets will be depleted rapidly on care until they are gone.

Once your assets are gone, the options for care are extremely limited. Please do yourself and your loved ones a favor and seek guidance to preserve your assets now. It doesn’t matter if they are limited. There are ways to preserve them. The best time to seek guidance is before or at least as soon as there is a noticeable decline in either physical or cognitive ability.

Call The Elder & Disability Law Firm of Victoria L. Collier, PC for a free 15-minute telephone consultation to find out how we can help you and your loved ones protect your assets.

Looking to find an experienced estate lawyer in the Georgia area who is skilled in asset protection and estate plan preparation? Shannon Pawley is an attorney in Georgia with expertise in estate planning and asset protection. Shannon can provide assistance with creating an estate plan to include making a will and how to establish a trust properly. If you have questions about asset protection or questions about making an estate plan, reach out to Shannon and she will be glad to help answer all the estate planning questions you might have!