What Is An Estate And Asset Protection Attorney And Why Do You Need One?

review asset protection plan - Estate And Asset Protection

Tax season just ended which often creates a sense of anxiety in many.

I encourage my clients to use this time for an annual review of asset protection plans to make sure any changes personally or professionally are still accurately reflected in their plan.

If you don’t have an estate and asset protection plan or attorney, you may want to consider at least scheduling a consultation after you finish reading this article. And, I want to assure you that estate and asset protection attorneys are not just for the super wealthy. Even though the word ‘estate’ may conjure up images of extensive land in the country with a large house reminiscent of Downton Abbey, I assure you, even the humblest of abodes can constitute an ‘estate’.

An Estate Is The Sum Of One’s Assets

Today, an estate means the net worth of an individual alive or dead. In other words, it is the sum of a person’s assets, legal rights, interests and entitlements. In fact, the services of an asset protection attorney are indispensable for anyone who has worked hard to accumulate assets and wants to protect against unexpected lawsuits and to make sure the assets are appropriately distributed when the time comes.

Specialists In An Ever-changing And More Litigious World Than Ever

Many people are unclear about the why an asset protection attorney would be necessary. I’ll explain. Asset protection attorneys are specialists in a world that is becoming more and more litigious. We make use of a variety of different strategies to create tailor-made asset protection plans for each person’s unique situation. Please be aware also that there is not a “one-asset-plan-fits-all” model. Any attorney who says there is, will not be worth your time.

So, now, what exactly is an estate and asset protection plan, you may wonder?

The answer in a nutshell: it is a customized combination of investment and financial instruments that a lawyer designs for each unique client.

Many people have a will and establish inheritance issues. However, while a will and distribution of assets is part of estate planning, there is much more to it. An experienced asset protection attorney knows that asset protection is an important and integral part of estate planning. They ask and answer questions such as the following: “How do you make sure your beneficiaries will put the assets you leave behind to good use?” “What can you do to pass your assets down to your beneficiaries and still qualify for government long-term care assistance?” “How do you get around a forced heirship regulation?” These, and many more, are just some estate planning issues your asset protection lawyer can help you resolve. A diligent asset protection attorney will also apprise you of all possible options – whether you end up using any of their suggested options or not.

An annual review is important once you have a plan in place because life is always changing.

For instance, a beneficiary may die or fall out of favor. You might start a new business. As you get older, your plans for the use of your assets may change. A good asset protection attorney will always be one step ahead of you. In the changes that happen in your life, he or she will see the need to revisit your asset protection and estate plans. In other words, an estate and asset protection attorney is going to become someone you will get to know and see more than once.

Looking to find an experienced estate lawyer in the Georgia area who is skilled in asset protection and estate plan preparation? Shannon Pawley is an attorney in Georgia with expertise in estate planning and asset protection. Shannon can provide assistance with creating an estate plan to include making a will and how to establish a trust properly. If you have questions about asset protection or questions about making an estate plan, reach out to Shannon and she will be glad to help answer all the estate planning questions you might have!

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Stacy McKenzie

21:58 07 Feb 24

Shannon and her team were great. Went in for a consultation and got my money worth. She explained and made sure we understood. I will be using them in the future.

Diane J

23:10 24 Jan 24

Waheed Hamid

18:55 17 Dec 23

We had excellent service from Shannon and her team, they are true professionals and helped us and explained every step in the process. We highly recommend The Estate and Asset Protection Law Firm.

Virgil Price Young

20:16 18 Jul 23

Stephanie Deal

15:22 07 Jul 23

My father and I recently used the estate, an asset protection, law, firm for new wheels, new, power of attorney’s, and a creation of a trust. Brooke and her entire team could not have been more helpful and more professional! We loved working with them, and they took everything seriously therefore I didn’t have to worry about a thing. I highly recommend everyone at the law firm.

Barry Amos

01:22 01 Jul 23

Great firm. Had answers to all our questions and explained everything clearly. Never felt rushed to make a decision Could not ask for a better experience. Every one we dealt with was professional and knowledgeable. We highly recommend this firm for estate planning.

Lee Jay

21:30 28 Jun 23

Shannon provided invaluable information regarding a family estate matter. Although her firm did not quite fit our immediate needs, the consultation was informative and extremely HELPFUL! Shannon clearly explained what our next steps should be and offered to assist if we had any questions along the way. Her expertise and willingness to help puts her in a league of her own!

Alice Guppy

02:01 23 Jan 23

Shannon and everyone at The Estate and Asset Protection Law Firm are professional, very knowledgeable, and a pleasure to work with. They answered all our questions in great detail and the plan they developed for us is exactly what we need to protect our assets and estate as we age especially with my husband's health issues.

Lynn McKibbin-Moore

23:09 24 Feb 22

My husband has dementia. This firm has been patient, kind and professional while we went through a move from a house of 37 years in to a condo to be closer to my daughter and her husband. (Miami to Atlanta). There was also a wedding. All in 6 months.We now have a trust, power of attorney. Wills for my daughter and her husband and more. All at a fair price. I could not recommend higher.

Tammy Lee

22:03 29 Jan 22

Shannon Pawley and her team are exceptional at helping families navigate tough situations. We began working with her upon finding out my father had Stage 4 kidney cancer. His decline was more rapid than expected.Attorney Pawley and her entire team expedited paperwork that allowed me to focus on my father’s care, make decisions that suddenly needed to be made for him medically and financially, and has allowed me the ability to focus more on grieving and less on legal matters upon his passing.It is obvious she is knowledgeable about the best ways to navigate estates to protect the assets for the owners and their loved ones. It is just as obvious that she is passionate and has true heart for what her clients go through.We will be using her for own estate needs, and I recommend her expertise to everybody I can.This service is worth every penny we paid as it has saved us more money and time than I could imagine.

H Jessie Brewer

18:26 18 Nov 21

Attorney Shannon Pawley and paralegal Alexis McCoy are legal professionals that my wife and I highly recommend. Their grasp of the Georgia law pertaining to Medicaid assistance and the interworking's of the State department is exceptional. Additionally, their client-attorney relationship skills are excellent. We wouldn't hesitate to use this law firm again should the need arise.

Dawn Hardy

15:06 13 Nov 21

Shannon and her team are the best! They listened to my needs and provided the best advice. They are patient and professional as well as personable, they didn't make me feel like I was just another client. Highly recommend!