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

The 5 Financial Decisions You Should Review Every Year—Even When Nothing Has Changed

An annual financial review can help keep your tax strategy, investments, insurance, estate plan, beneficiaries, and retirement goals aligned with your life and priorities. Financial ...

<p>The post The 5 Financial Decisions You Should Review Every Year—Even When Nothing Has Changed first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.</p>

Should You Gift Money to Your Children Now or Leave It to Them Later?

Should you give money to your children during your lifetime or leave it as an inheritance? Explore the family, tax, control, and legacy considerations that can help guide the decision. For many successful families, estate planning eventually raises ...

<p>The post Should You Gift Money to Your Children Now or Leave It to Them Later? first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.</p>

What Happens to Your Financial Life When You Retire? A 12-Month Checklist

Retirement changes more than your work schedule. Use this 12-month retirement checklist to review Medicare, Social Security, cash flow, portfolio withdrawals, taxes, estate documents, and employer benefits. Retirement is often described as a milestone, but financially, it ...

<p>The post What Happens to Your Financial Life When You Retire? A 12-Month Checklist first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.</p>