Strategic asset protection plays a key role in comprehensive estate planning. Successfully putting these measures in place calls for timely action and seamless alignment with your broader estate strategy, helping ensure the wealth you’ve worked hard to build remains secure for the future.
At Pierro, Connor & Strauss, we employ advanced asset protection strategies to help our NYC clients keep what they have earned and preserve wealth from situations such as lawsuits, estate taxes and long-term care.
At our firm, an experienced NYC asset protection attorney will craft a legal plan that protects your property and wealth to the greatest possible extent, while aligning with your unique financial goals, family dynamics and other factors.
We combine significant experience and meticulous attention to detail with attentive service and a sensitivity to the personal stakes that run beneath these sensitive legal matters.
How We Protect Assets for Our NYC Clients
Some of the tools and strategies we use to protect assets for clients in NYC and throughout the metro area include:
Trusts
Trusts provide a number of asset protection benefits, from shielding assets from lawsuits to helping your heirs avoid costly probate proceedings to setting aside wealth for a loved one with special needs.
Some of the many types of trusts we help our clients establish include:
- Medicaid asset protection trusts: Helps clients qualify for Medicaid benefits while preserving assets for their heirs and shielding them from the expense of long-term care.
- Special needs trusts: Sets aside wealth and assets for a person with special needs, bolstering their financial stability and quality of life without disqualifying them from essential public benefit programs.
- Dynasty trusts: Protects wealth across multiple generations by protecting assets from estate taxes, creditors, and legal disputes.
- Charitable remainder trusts: Allows you to financially support a charitable cause while also creating an income stream for yourself, with tax benefits
- Revocable living trusts: Provides flexibility by allowing clients to manage and protect their assets during their lifetime while ensuring a smooth transfer to beneficiaries. While this does not offer asset protection to the creators of the trust, it does provide the benefits of avoiding probate, providing privacy and the ability to provide asset protection for beneficiaries.
When it comes to your assets, we want to help you maximize control while minimizing risk and liability to the greatest possible extent. Trusts are one of the most potent tools for achieving that objective.
Business Succession Planning
With careful legal planning, you can shield your business from preventable risks and enjoy significant tax benefits while ensuring the seamless transfer of assets and control to the next generation.
A properly crafted plan also helps prevent internal disputes, ensuring that ownership transitions smoothly without disruption to operations. By integrating estate planning strategies, buy-sell agreements, and asset protection measures, you can preserve both the financial health and long-term vision of your business.
A Comprehensive Estate Plan
Estate planning is more than just drafting a will—it’s about ensuring that every financial decision aligns with your long-term goals. We take a tailored approach to creating estate plans, drafting customized wills and trusts that minimize tax exposure and protect beneficiaries from unnecessary legal complications.
Through careful tax mitigation strategies, we reduce estate and gift tax liabilities, allowing clients to maximize the value of their assets for future generations.
As life goes on and your circumstances change, you may need to revisit your estate plan. We will be here to help you make any necessary adjustments so that your plan remains up to date and provides you with maximum protection.
With a proactive and client-focused approach, our NYC estate planning attorneys create robust asset protection strategies that stand the test of time.
