What Do I Need to Know About Asset Protection?

 

 

Video Summary

Good afternoon.  My name is Tom Mitchell.  I’m a partner with the law firm of Waller & Mitchell.  We’re located at 5332 Main Street in Downtown New Port Richey.  I'm an elder law specialist.  That means that I do wills, trusts, powers of attorney, living wills, healthcare surrogate documents, trust and estate administrations, public benefits qualifications, and guardianship work.

Okay.  All you 50 and 60-year-olds out there, how are your 70 to 90-year-old parents doing?  Are you concerned that they’re going to have enough money to last the rest of their lives?  Are they concerned that they’ll have enough money to last ‘til the end of their lives, and that there’ll be something left to give to you when they die?

If so, you need to consider consulting with us about asset protection.  There are a number of federal and state programs that provide assistance to seniors who need help.  These are generally means-tested program, which mean that you can’t have more than a certain amount of assets or a certain income level.

At Waller & Mitchell, we know how to get you qualified for those programs.  And in some instances, we can accelerate that eligibility by legally transferring the money from the older generation to the younger generation, without incurring a penalty.

So if you’re interested in trying to help your parents live a better life and insuring that their goal of leaving something to their children and grandchildren is accomplished, please give me a call at Waller & Mitchell.  The number is 727-847-2288.