Among other strategies, the trusts that would be used to protect assets would be irrevocable trusts. With this type of trust, you surrender the incidents of ownership. As a result, the assets in the trust would not be in play if you were to become the target of a lawsuit. Learn more about revocable living trust protect assets in this presentation.
Timothy P. Murphy is an estate planning and elder law attorney whose practice emphasizes helping people to build, preserve and pass on their wealth. He works with his clients to accomplish their goals while avoiding unnecessary court proceedings and minimizing or eliminating exposure to death taxes.
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