An estate planning lawyer who wants to be involved in asset protection planning must have a working knowledge of taxation, business entities, and general concepts of bankruptcy and creditor/debtor laws. In addition, it is essential to be familiar with the applicable fraudulent transfer/conveyance laws that apply to any proposed planning, whether it is under the UFTA/UFCA. Olson Harnish Law Estate Planning lawyer in Salt Lake City takes the time to create the right plan for you and your family because they have years of experience in tax and business law. They can ensure that your business equity is properly included in the estate plan.
An estate plan serves three main purposes: it protects your assets for future generations, allows you to determine who gets your belongings, and gives you the ability to make your own decisions. Individuals in high-risk occupations, such as doctors or real estate developers, and wealthy people who realize that they are targets of creditors because of their net worth are the most likely to establish asset protection trusts. Asset protection trusts may also be a substitute for a prenuptial arrangement. While many wait until their older years to start asset protection, it is best to get started early and update your estate plan as your circumstances change. To ensure your estate plan is current, it’s important to revisit your lawyer and plan throughout your life. Unfortunately, over 71% of Americans don’t have an updated will, but you can change that by contacting our lawyer today.
An asset protection lawyer may be used to reduce or eliminate state income taxes in certain circumstances. In addition, an asset protection trust can be used to take assets out of a grantor’s estate while still potentially allowing them to reap the benefits from the trust assets. Olson Harnish asset protection lawyer can work with simple or complex cases. For example, many families include their cars, properties, cash, trusts, and wills into the plan. Although 53% of Americans believe it is difficult to find a lawyer who can help set up an estate plan, Olson Harnish Law makes the process easy with their extensive knowledge in the industry.
Olson Harnish Law office is conveniently located in Salt Lake City. Estate planning and asset protection is a continuous deliberate process, so get comfortable with your lawyer. They are experts in this industry and other related practices, such as tax law. To schedule an appointment to protect your assets, visit their website to request an appointment https://bit.ly/3qCdJj5. Call 385-287-1700 for more information.
Olson Harnish Law specializes in estate planning and tax law. Their lawyer can help any family begin asset protection. Call today.