Estate Planning
Asset Protection Attorney in New Jersey
Life is unpredictable, and without proper asset protection planning, your wealth, business, and property could be vulnerable to lawsuits, creditors, or bankruptcy. At the Law Firm of Benjamin D. Eckman, we help New Jersey professionals, business owners, and families create legal shields that safeguard assets while ensuring compliance with state and federal laws.
What Is Asset Protection Planning?
Asset protection involves strategic legal and financial planning to prevent the loss of wealth due to unforeseen circumstances, including:
- Lawsuits – Protecting personal and business assets from legal claims.
- Creditors – Ensuring financial stability by shielding wealth.
- Bankruptcies – Structuring assets to minimize financial risk.
- Divorce & Family Disputes – Preventing asset loss in contentious separations.
Many professionals and business owners are at higher risk due to the nature of their work. Our firm creates customized protection strategies that ensure financial security for you and your loved ones.
Key Asset Protection Strategies
Exempting Assets in New Jersey
New Jersey and federal laws exempt certain assets from creditors. Understanding these exemptions is crucial when structuring an asset protection plan. While some states allow individuals to choose between state and federal exemptions, others restrict individuals to state exemptions only.
To maximize protection, we help clients convert non-exempt assets into exempt assets, ensuring they remain safeguarded under applicable laws.
Learn more about estate planning strategies.
Limiting Liability for Professionals & Business Owners
Many business owners operate as sole proprietors, leaving their personal assets exposed in the event of a lawsuit. Establishing a legal entity, such as a Limited Liability Company (LLC) or Corporation, can provide significant risk management benefits.
Key advantages of forming a legal entity:
- Protects personal wealth from business-related lawsuits.
- Shields business assets from personal liability claims.
- Provides tax benefits and increased credibility.
At the Law Firm of Benjamin D. Eckman, we assist professionals and business owners in selecting the right legal structure to minimize liability and enhance asset security.
Discover business asset protection options.
Transferring Risk with Insurance
A strong liability insurance policy is a critical component of asset protection. We guide clients through insurance reviews, ensuring policies are:
- Up to date with adequate coverage limits.
- Reviewed for loopholes that may create unnecessary risk.
- Structured to balance premiums and deductibles effectively.
Fundamental Insurance Philosophy: Pay a premium you can afford to transfer a risk you cannot afford.
During your asset protection planning, our team will review existing insurance policies to ensure your wealth remains protected from unexpected claims.
Comprehensive Legal Tools for Asset Protection
Our firm uses a combination of legal and financial strategies to create strong asset protection plans, including:
- Irrevocable Trusts – Shield personal assets from creditors and lawsuits.
- Domestic Asset Protection Trusts – Secure wealth while maintaining Medicaid eligibility.
- Special Needs Trusts – Ensure financial security for disabled loved ones. Explore special needs estate planning.
- Medicaid Asset Protection Planning – Structure assets to qualify for government benefits while preserving wealth.
Our legal team ensures full compliance with New Jersey laws, helping clients reduce financial risk while preserving their legacy.
How to Choose the Right Asset Protection Lawyer
Experience and Client Success
The right asset protection attorney should have:
- Extensive experience in estate planning and asset protection.
- Proven success in helping clients safeguard their wealth.
- Knowledge of New Jersey’s laws regarding business and personal assets.
At the Law Firm of Benjamin D. Eckman, we specialize in customized asset protection solutions tailored to your unique financial situation. Learn more about our firm.
Personalized Legal Guidance
One-size-fits-all asset protection plans do not work. We tailor solutions based on:
- Your financial goals
- Existing legal structures
- Risk level and future planning needs
Whether you’re protecting business assets, preserving family wealth, or planning for Medicaid eligibility, our firm ensures your financial future is secure.
Get Started with Asset Protection Today
Without proper planning, your assets could be vulnerable to legal disputes, financial hardship, or long-term care costs. The Law Firm of Benjamin D. Eckman helps individuals and businesses in New Jersey protect their hard-earned wealth with proven legal strategies.
📞 Call (908) 206-1000 today for a free consultation and start securing your future.