McDonald Law Group questioned: What is asset protection?Asset protection is the legal safeguard of your assets. Every state has enacted laws which allow individuals to legally protect their assets from future creditors. Asset protection is not an attempt to defraud creditors, which is a criminal offense. Asset protection is not hiding your assets; it is [...]
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Irrevocable Trusts in Medicaid Asset Protection Planning
Rocco Beatrice questioned: Irrevocable Trusts for Protecting Assets in Medicaid PlottingWhile transferring assets is a fantastic way to protect your assets and gain eligibility for Medicaid, there is a major disadvantage to asset transfers. When you transfer an asset, you basically give it away. This means that you no longer have control over that asset. [...]
