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Tag Archives | Asset Protection Planning

For Asset Protection, Paperwork Matters

A basic strategy for asset protection is to hold various assets in different entities. Putting real estate, small businesses, and other assets into trusts, corporations, or limited liability companies (LLCs) is effective protection that is relatively easy to put into practice. Not only do I recommend this strategy to clients, I use it myself. Recently, […]

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First Asset Protection Strategy: Overcome Your Own Beliefs

Besides helping you build wealth, your financial planner should also offer ways to help you protect it. Yet one aspect of comprehensive financial planning that doesn’t always get a lot of attention is asset protection. The most common ways to lose assets are divorce, bankruptcy, and judgments filed against property as the result of a […]

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Asset Protection and Medicaid

We’re pleased to feature a guest post from Tom Simmons, a partner with the Rapid City law firm of Gunderson, Palmer, Nelson & Ashmore, LLP. A Medicaid Irrevocable Income Only Trust (MIIOT; pronounced “my-ott”) is an irrevocable trust with both advantages for long term care planning as well as asset protection. Basically, a MIIOT provides for […]

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