LayRoots

Asset Protection | Live More Carefree

Colin Ley

By

Asset Protection for Physicians

Asset Protection for Physicians (and others in the medical field)

Medical professionals face high levels of liability. A 2010 survey by the American Medical Association (AMA) found that more than 60% of doctors had been sued at least once by late career. Furthermore, over 80% of surgeons have been sued at least once.

The Physician Insurers Association of America writes the defense against a medical malpractice claim averages over $22,000 for lawsuits that are dropped, dismissed or withdrawn, and more than $100,000 for cases that go to trial. [Read more…] about Asset Protection for Physicians

By

Does a living trust protect assets?

Does a living trust protect assets from creditors?

All trusts are not created equal. A living trust, or revocable living trust, is one of the most common trusts utilized by estate planning attorneys. It’s a great way to avoid the hassles of probate, but will the assets inside of the living trust be protected from creditors? Check out the video to learn more! [Read more…] about Does a living trust protect assets?

By

Protecting Home Equity

One of the most common questions I receive is about protecting home equity. It makes sense as for many people, a home is one of the most valuable assets they own. Also, living in the Seattle area, the real estate market has been growing at an incredible rate! Home owners are seeing their equity sky rocket and in turn get a bit nervous about how to protect that equity from lawsuits and creditors. Check out the video to learn about how much equity is protected by state law and hear what common mistakes home owners often make. [Read more…] about Protecting Home Equity

By

Asset Protection Planning

Asset protection planning involves the application of many different areas of law. The development of a comprehensive asset protection plan may involve family law, tax law, trust laws, business planning laws, state and federal bankruptcy laws, and on and on. The areas of law intersect in different ways depending on each individual’s situation and planning goals. In addition, to develop an effective plan to protect your wealth and assets from lawsuits, divorces, and creditors, you’ll benefit from working with an attorney who is versed in the practice of asset protection. [Read more…] about Asset Protection Planning

By

Asset Protection Definitions: Spousal Lifetime Access Trust (SLAT)

Spousal Lifetime Access Trust (SLAT)

In my previous video I talked about avoiding Washington estate taxes by gifting away assets if your net worth falls between $2-$5.45 million. Now many people don’t like the idea of giving away and losing control of their assets. That’s where a Spousal Lifetime Access Trust comes in. This type of asset protection trust gives you some additional options so the gifted assets are not lost in divorce or to creditors. Watch the video below for some information on these “SLATs.” [Read more…] about Asset Protection Definitions: Spousal Lifetime Access Trust (SLAT)