Asset protection attorneys provide help to everyone who needs to make a plan to protect the wealth that they have worked so hard to acquire. While everyone should work with an experienced attorney to protect their assets from potential sources of loss, it can be especially vital for those who own a business to get legal help to ensure both that their business is kept safe and that their personal wealth is able to be protected and passed down to the next generation.
The Law Offices of James A. Miller, P.C. has extensive experience providing help to business owners to address the unique issues that company ownership creates when it comes to the protection of assets. To find out more about the ways in which our legal team can help you to put an effective asset protection plan in place, give us a call today.
Why Should Business Owners Get Help with the Protection of Assets?
Business owners need to get help to make sure that they can protect the future of their organization. Your company may be your most valuable asset, but without a business succession plan, your business may not be able to serve as your legacy. There are many circumstances where heirs or beneficiaries are forced to sell a family business because no plans have been made to cover estate tax and there are many circumstances where businesses lose their value because they take too long to transfer to new owners after a death so operations are interrupted.
By making a plan to facilitate the timely transfer of your company and to avoid estate tax, you can make certain that your business survives long after you are gone and your company can serve as your legacy to provide for your loved ones in generations to come. You can protect what you have built through the creation of a business succession plan that Worcester asset protection attorneys at The Law Offices of James A. Miller, P.C. can help you to create.
As a business owner, you also need to address the risks that company ownership can present to your personal wealth. You could find yourself facing the loss of your own assets if your business goes bankrupt or if a judgement is entered against your business. You don’t want a business bankruptcy or a claim made against the business to cause you to lose all of the money that you need to support your family and the money that should serve as your legacy. You should work with an experienced attorney to explore options for incorporation or for other ways that you can reduce liability so you can keep your wealth safe and secure.
Your business could also prevent you from qualifying for means-tested benefits like Medicaid, since the company itself is a valuable asset and since you, as the business owner, may own company assets as well. If you are not able to get Medicaid coverage and you need long term care or nursing home care, you may be forced to pay out of pocket for this expensive care since it is not covered by Medicare or by most private insurance providers. If you are left struggling to pay for nursing home care, this could again put your assets – including your business – at risk.
You can work with an experienced attorney to make certain that you have a plan in place to qualify for Medicaid coverage and to pay for vital nursing home care so you don’t end up losing your legacy if you must go into a nursing home.
Getting Help from Worcester Asset Protection Attorneys
Worcester asset protection attorneys at The Law Offices of James A. Miller, P.C. can provide you with the comprehensive advice that you need to keep your personal wealth safe if you own a company and can help you to make certain that you can protect company assets and pass your business down to the next generation.
To find out more about the ways in which our legal team can help you with all of your asset protection issues, join us for a free seminar. You can also give us a call at 866-370-3888 or contact us online to get personalized advice about your asset protection plan. Call now so you can keep all that you are working for safe from loss by getting the assistance you need to make legal tools work for you.
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