Asset Protection

Helping People In New Jersey Receive Government Benefits While Maintaining Their Estates

Asset protection in the context of elder law refers to the process of strategically identifying and moving certain possessions in order to properly maximize eligibility for government benefits that become vital as we age. Programs like Medicaid and Veterans Affairs (VA) benefits have limits on income and assets, and asset protection is frequently used to help ensure that these programs will be available in order to keep people and their families from facing the potentially crushing costs of medical care in advanced age.

'What Are My Options For Protecting My Property?'

If you are seeking to make changes to your estate anticipating a need for Medicaid or VA benefits, we will carefully evaluate your situation and recommend the right steps for your situation.

For example, we may advise you to put certain property in one or more irrevocable trusts and name children or other family members as beneficiaries. This will not only take property out of your ownership; trusts can also be structured to prevent beneficiaries from having immediate access to trust property. This means that they will only have access to trust funds when they are actually needed, and can give you and your beneficiaries peace of mind that assets will be available when the need is greatest.

Learn More By Speaking With Our Lawyers

Arrange a confidential consultation with one of our experienced New Jersey attorneys. Email us now or call our Glen Rock offices at 866-744-3773.