Prudent estate planning includes numerous strategies to protect the wealth you’ve acquired from losses due to liability and excessive taxation. Successful individuals are frequently the target of specious lawsuits from plaintiffs looking for deep pockets. They are also subject to high levels of taxation at the state, federal and local level. Law Offices of John Mangelli believes in your right to retain and pass on the property you’ve acquired through your hard work. I help clients take advantage of legal strategies that protect wealth from unnecessary loss. Many of those strategies involve the creation of trusts to hold assets and pass them on to heirs. Trusts are very flexible instruments; I can tailor your trusts to meet your goals for asset protection and succession.
Trusts are legal entities you create to hold your assets during your lifetime. After your passing, the trust can continue to hold the assets, or disburse them to your beneficiaries. A trust offers protection from lawsuits, creditors and taxes. Effective trusts instruments include:
Law Offices of John Mangelli also helps clients augment their asset protection by reviewing existing insurance policies and recommending ways to reduce exposure to liability. For self-employed individuals or small business owners, I provide pertinent advice on the advantages of incorporation for securing your assets from claimants and creditors.
You’ve worked too hard for your property to suffer avoidable losses due to inadequate planning. Let Law Offices of John Mangelli show you how to keep and pass on more of your wealth. To schedule a consultation in Flushing, call 833-540-1400 or contact my office online.