Asset Protection Plan

An Asset Protection Plan is a legal strategy that is designed to protect an individual’s assets from potential creditors, lawsuits, or long-term care costs. The plan typically involves a combination of legal tools and techniques, such as trusts, gifting strategies, and insurance products, to shield assets from potential liabilities while still allowing the individual to maintain control and access to those assets. The Asset Protection Plan may also include provisions for Medicaid planning, which involves structuring assets in a way that maximizes eligibility for Medicaid coverage of long-term care costs. The Asset Protection Plan is an important tool for individuals who want to safeguard their hard-earned assets and ensure that they are available to support themselves and their loved ones in the future.