Elder Law Report

Protecting Your Legacy from Creditors and Lawsuits: Strategies for Securing Your Financial Legacy


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Have you ever worried about what would happen to your hard-earned assets if you faced a lawsuit or creditor claims? The truth might surprise you.

Attorney Jordan McIntyre begins with a reality check that makes many clients uncomfortable: there's no such thing as a litigation-proof life or estate plan. However, that doesn't mean you're powerless. Through strategic planning, you can create multiple layers of protection that significantly reduce your risk exposure while ensuring your wealth passes according to your wishes.

Jane Deere-Wester and Jordan explore four powerful protection strategies that work together like Russian nesting dolls to shield your assets. They discuss how properly structured trusts can discourage contests through specific provisions, while beneficiary designations offer a simple yet effective tool anyone can implement today without legal assistance. Jane shares a personal cautionary tale of discovering her ex-husband remained as a beneficiary on an account years after their divorce—a common oversight with potentially serious consequences.

For business owners and real estate investors, placing assets within properly structured LLCs provides crucial separation between personal and business liabilities. Taking this protection further by incorporating these entities into your estate plan creates multiple barriers against potential claims. We also tackle the often-uncomfortable subject of prenuptial agreements, which have become increasingly important in today's world of blended families and multiple marriages.

The podcast wraps up with practical advice on implementing these strategies and emphasizes that protecting your legacy isn't about overnight solutions but rather thoughtful planning that honors the lifetime of work you've invested in building your wealth.

Ready to create your own comprehensive asset protection plan? Reach out to our offices in Hendersonville, Shelby, or Charlotte, and let us help you secure your legacy for generations to come.

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Elder Law ReportBy Greg McIntyre, J.D., M.B.A.

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