Middlebury Asset Protection Lawyer

Middlebury Asset Protection Attorney

Middlebury is a beautiful suburban community in New Haven County, just southwest of Waterbury. Locals enjoy scenic views, easy access to big city amenities, and great surroundings for raising a family. Older residents of the area and those who control substantial assets need to know their options when it comes to planning for the future. A Middlebury asset protection lawyer at Burns Thomas, LLC, can help you implement various asset protection strategies.

Your Middlebury estate planning lawyer at Burns Thomas, LLC, can integrate various property ownership arrangements into your estate plan to help reduce tax burdens, protect your loved ones’ inheritance from creditors, and minimize other losses during estate administration.

Estate planning can be a difficult subject for some because it requires thinking about what will happen after death. However, taking time to work with an experienced estate planning attorney can pay off tremendously for your family.

If you do not have an estate plan in place when you die, your estate will enter probate, and this is a notoriously long, expensive, and difficult process. Our team can help you create an asset protection strategy that may help your family avoid probate.

Experienced Legal Counsel for Asset Protection in Middlebury, CT

The team at Burns Thomas, LLC, has years of experience helping clients with all types of estate planning and estate administration.

We can help you create a brand-new estate plan from scratch or adjust an existing plan. If it has been several years since you have looked at your estate plan, it’s crucial to take it to a Middlebury estate planning attorney for review and, if necessary, revision.

One of the main benefits of estate planning is protecting your assets from the various ways they could be lost during estate administration or probate. We employ various strategies on behalf of our clients, including:

• Asset protection trusts: A trust is a legal contract that transfers ownership of assets from one party to a trustee, and this individual is then tasked with distributing the contents of the trust to the trustor’s beneficiaries. With a trust, it may be possible to leave property to your family without the need for complex and expensive probate.
• Family limited partnerships or limited liability companies (LLCs): These are legal entities that enable family members to transfer wealth between themselves or to business entities seamlessly and without exposing assets to creditors and other losses. They can be effective ways of establishing succession plans for family-owned businesses.
• Joint property ownership: This is a straightforward arrangement that can allow some assets to avoid probate entirely. When one member of a joint ownership agreement dies, full ownership rights are transferred directly to the surviving joint owner.
• Statutory exemptions: which can sometimes make it possible to transfer property without triggering certain tax thresholds for gifts or estate taxes. We can help you understand your options to transfer as much property as possible while taking full advantage of all applicable statutory exemptions.

In Middlebury, these are just a few examples of the strategies our firm can employ on your behalf. We have extensive experience handling complex financial matters in estate planning, and we are comfortable reviewing real estate ownership, complex investments, cryptocurrency holdings, stock portfolios, retirement accounts, and more.

Our goal with asset protection is to help you approach estate planning with confidence, develop a plan that helps you meet your unique needs, and address the complex aspects of your situation so you can have peace of mind. As of 2024, only about 32% of Americans have estate plans in place, and it is never too early to start thinking about the asset protection strategies you could employ that might help your family.

Burns Thomas, LLC, creates an individualized estate plan for every client. When you meet with our team, we can review the details of your assets, liabilities, and concerns about estate administration for your family. We can thoroughly explain all of your options and guide you through the process of creating a legally enforceable estate plan you can rely on in the future. Reach out to our firm as soon as possible so we can get started.

Whether the best option for you is a comprehensive will, the establishment of trusts or other estate planning solutions, we will find a solution that fits your needs.

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FAQs

The team at Burns Thomas, LLC, excels at creating complex asset protection strategies. We are confident that we can address your specific financial concerns, shield as much of your property from creditors and lawsuits as possible, and help your family avoid a difficult probate process as much as possible. Contact us today and schedule a consultation with an experienced Middlebury asset protection lawyer to learn more about the estate planning services we offer.