Asset Protection

Asset protection is a crucial component of financial planning, designed to secure your possessions and provide peace of mind. It involves intricate legal strategies aimed at shielding your assets from risks such as creditors, lawsuits, and legal judgments. By implementing these strategies, you can minimize the likelihood of losing wealth due to unexpected legal challenges.

Asset protection is not about evading responsibility; rather, it is about navigating financial adversity without risking your possessions. If you hold assets, you should have the right to retain them without constant worry over ownership. Proactive organization of your assets allows you to maintain your standard of living, even in the face of legal disputes or economic downturns.

There are several key aspects of asset protection you should consider to best safeguard your possessions:

Legal Structures:

Establishing trusts, LLCs, and corporations can separate your assets and limit their exposure to legal claims.

Insurance:

Liability, malpractice, or property insurance can cover potential losses.

Exemptions:

State and federal laws offer various legal exemptions that protect assets such as homesteads, retirement accounts, and life insurance policies from creditors in many (but not all) jurisdictions.

Timing and Legality:

Timing is critical. Attempting to transfer assets after a lawsuit has been filed can be considered fraudulent, and courts may overturn such transfers.

Estate Planning:

Including your assets in your estate plan can help preserve them for future generations and protect inheritances from creditors.

Why Michael G. Day & Associates?

No one wants to face legal challenges, and we understand that. However, the stress associated with these issues can be significantly reduced when clients do not have to worry about losing their assets. At Michael G. Day & Associates, we witness the daily struggles our clients face and strive to ease their burdens as much as possible through asset protection. When we help clients protect the things that matter most to them, we are reminded of why we do what we do.

What Our Clients Say

There was great communication and Lori was always available whether by phone, email or face-to-face. The front office staff were always smiling and ready to help. They were all part of the 'village; that helped me to navigate through a difficult time allowing me to focus on other more personal tasks. I will be forever grateful for their expertise and kindness.

C.M.

The Law Offices of Michael G. Day and Associates are very intelligent and knowledgeable in current law. They were aggressive to get my work accomplished and great with their clients.

Anonymous

I had a very complicated case. Michael Day was thorough and exact. He was forthcoming with information and advised us correctly. WE were very pleased that he was able to help us. He resolved our problem and helped us get Medicaid for our father. His work is high quality, and we would use him again for any services he provides.

Anonymous

The staff at the office of Michael Day is quick and efficient to respond to inquiries directed to my client/attorney relationship. Not only are they efficient but they have a good sense of humor and a pleasure to deal with.

T.M.T. - DDSMSMA

The office staff are not only extremely personable, but they are at the top of their game and their courtesy is overwhelming. Michael Day is very knowledgeable and far exceeds any lawyer that I have ever been too. He anticipated my requests before I even had to ask. In my opinion, a five-star rating is not sufficient.

L.H.

I have enjoyed working with Michael Day and his associates. I was very nervous when I had my first appointment but that did not last long. Everyone was so nice, kind, friendly and helpful. I know that there is supposedly no such thing as a stupid question, but I am sure I asked some! However, I would not have known it. Everyone in the office was more than willing to help. It was a pleasure to deal with the personnel in this office.

E.W.

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