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Oklahoma City Asset Protection Lawyer

asset protectionWhen you are considering what type of protection to provide for your assets, it can be difficult to know where to start. It can be helpful to visit with an experienced attorney that specializes in asset protection law. With the right legal counsel, you will have peace of mind knowing that your family will be able to maintain control over their assets even if you were to become incapacitated or incur significant debt. In many cases, a corporation or limited liability company (LLC) alone cannot shield you from liabilities. In order for this kind of protection to be effective, it must be established correctly and by someone who understands all the legal nuances regarding this type of planning.

Discussing your unique situation with an experienced Oklahoma City asset protection lawyer can help protect the assets that are important to you. With a plan in place, asset and estate planning with a legal professional can be easier and more effective. A well-thought-out strategy could save your family from debilitating financial burdens when it matters most. Contact our experienced Oklahoma City, Oklahoma asset protection attorneys at Entz Burton & Associates to help you better understand all of your legal options and ensure your assets remain protected.

Understanding Asset Protection

Asset protection is an important way to protect your family’s finances. A number of different strategies are available for implementing asset protection, including but not limited to establishing a trust or creating various entities such as Series LLCs.

Our experienced attorneys at Entz Burton & Associates will work closely with you to ensure you understand all of your legal options regarding how you can specifically protect assets for you and your family. Our team will work with you to fully understand your particular situation so we can provide a tailored, strategic approach for protecting your assets while still meeting or exceeding all of your financial objectives.

Protecting Assets from Creditors

During the probate process, creditors may have the legal right to pursue the assets of the estate of a deceased person (decedent). The probate process can be lengthy and expensive, giving creditors a significant head start in the asset hunt. If you believe your assets are at risk from lawsuits or other sources of liability, consider taking steps to protect them now before it is too late. One of the best ways to prevent an estate from being drained by legal proceedings is through effective planning and ensuring that assets remain for heirs and beneficiaries.

Protecting Assets from Nursing Homes

Nursing homes are exceptionally expensive in the United States. The national average cost for a nursing home is more than $105,000 per year (more than $65,000 per year in Oklahoma), which is only expected to increase over time. With the escalating costs of care, many retirees find themselves in a situation where they cannot afford to pay for their own care at all, let alone ensure that there are funds set aside for an assisted living facility or home health services. However, with careful planning, a person can take steps to protect their assets from the exorbitant fees of nursing homes.

Understanding Series LLCs

One of the more effective ways to protect assets is by utilizing a Series LLC. A Series LLC creates an island of protection, meaning that assets are segregated in separate, independent “series” entities under a master LLC. Though organized under a master LLC, each series operates like a separate entity. If organized and maintained correctly, liability protection applies to each individual series – this means that assets held by one series are insulated from the liabilities of other series within the same master LLC. However, it is important to understand that a company, like a Series LLC, cannot shield a person from all legal liabilities.

There are many ways in which a Series LLC can be organized to shield assets from creditors, and it should not be overlooked by those who are concerned about their future financial security. An experienced asset protection attorney will know how to establish these entities so that a company has the maximum legal and financial protection available under the law.

Visit with an Experienced Warr Acres, Oklahoma Asset Protection Attorney Today

If you are interested in protecting the assets you have worked so hard to accumulate during your lifetime, consider visiting with an experienced and dedicated Oklahoma City asset protection attorney at Entz Burton & Associates. We can help you understand the complexities of your unique circumstance and offer you legal advice specific to your situation. Oklahoma state law is unique, and it is important to understand all of your rights under Oklahoma law. Contact our legal team today at 405-773-9800 in Warr Acres, Oklahoma to schedule an appointment with an asset protection attorney to ensure your hard-earned assets remain protected.

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