Tips for Protecting Your Assets as You Age: Three Keys

December 31, 2015

The effects of aging, if not properly prepared for, can rob a person of their assets and rob heirs of their inheritance.shutterstock_108963875

According to recent research conducted by the University Of Kentucky College of Human Environmental Services found that 40% of people do not even think about retirement.

The first key to protecting your assets is getting a power of attorney to grant as much or as little decision making power to a trusted person.

The second key is gifting. A great example is giving your home while arranging to live in it for life, as it is no longer your asset and cannot actually be taken for expenses in some scenarios.

The third key is to use long-term care insurance to allow you to decide what care and when should take place. Having an attorney who can walk you through these steps is extremely helpful after you have done some thinking about it on your own. If you have questions about the process of protecting your assets and the steps that you can take now, contact a New Jersey asset protection planning attorney sooner rather than later.


Practice Areas:



Schedule your free Exploratory phone call

Click here to see how we
can be of assistance.

Payment Portal
for Tax and Accounting invoice

This link offers a secure, quick way to complete your payment with Omni360 Advisors LLC.

Our Social Media

Connect with us on Social Media using the following buttons:

Visit our Podcasts

Listen in, Join the Conversation!

Recent Posts

Navigating the Step-Up in Basis: Core Rules, Critical Exceptions, and Strategic Benefits for Families and Business Owners

For many families, business owners, and high-net-worth individuals, one of the most valuable—but often misunderstood—tax concepts in estate planning is the step-up in basis. While discussions ...

<p>The post Navigating the Step-Up in Basis: Core Rules, Critical Exceptions, and Strategic Benefits for Families and Business Owners first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.</p>

New State Retirement Plan Requirements for Small Businesses in New Jersey and New York

Small businesses in New Jersey and New York may face new retirement plan compliance requirements in 2026. Learn who is affected, key deadlines, and important ...

<p>The post New State Retirement Plan Requirements for Small Businesses in New Jersey and New York first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.</p>

Understanding the K-Shaped Economy: Why Portfolio Diversification Matters More Than Ever

Learn what a K-shaped economy means, how it affects investors and business owners, and why maintaining a diversified portfolio may help navigate an increasingly uneven ...

<p>The post Understanding the K-Shaped Economy: Why Portfolio Diversification Matters More Than Ever first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.</p>