A critical part of estate planning for high net worth families includes the controlled disposition of wealth in a way that minimizes or eliminates the exposure of your heirs to death taxes, to a failed marriage or to lawsuits. Anthony M. Vizzoni, founder and sole member of Vizzoni Law Firm, L.L.C., works with clients to design estate plans that provide asset protection as part of their portfolio of benefits.
How To Legally Protect Your Estate Assets
Several legal options can be used when you are seeking to protect your assets from death taxes, creditors or failed marriages. Here are some of the tools Anthony most frequently employs for his clients:
- Delaware Trusts: This legal instrument provides favorable tax treatment and favorable asset protection treatment by using perpetual trusts commonly known as dynasty trusts.
- Special Needs Trusts: This type of trust can hold assets for a disabled or otherwise vulnerable adult who needs to preserve his or her qualification for government entitlements.
- Additional types of trusts: Other types of trusts, including irrevocable living trusts, can address asset protection needs.
- Limited Liability Companies or Family Limited Partnerships: Forming a family LLC or a family LLP can separate these company assets from personal assets and protect the former from lawsuits or creditors, including spouses.
Much of what Anthony will recommend to you will vary based upon your individual circumstances. He is able to blend more than 25 years of experience as a trusts and estates attorney with his training in tax law and finance to collaborate with you on a plan that will maximize the assets you will be able to retain and distribute to the next generation of your family and beyond.
Start The Asset Protection Planning Process Today
Vizzoni Law Firm, L.L.C., is located in Bridgewater. It serves clients in Somerset, Union, Hunterdon, Essex and Middlesex counties in New Jersey. To speak with Anthony about asset protection plans, call 908-304-0499 or use the firm’s online contact form.