Estate Planning
Asset Protection Attorney in Hackensack, NJ
Residents of Hackensack and Bergen County face unique challenges when protecting their wealth and assets. The dense population and active business environment of Northern New Jersey create increased exposure to potential legal claims and financial risks.
Professional Asset Protection
Bergen County professionals, including doctors, real estate developers, and business owners, are particularly vulnerable to lawsuits and liability claims. A striking 95% of physicians face at least one lawsuit during their career. For Hackensack professionals, implementing protective measures before any legal threats arise is crucial, as waiting until after a lawsuit is filed may be too late.
Strategic Protection Methods
Legal Entity Formation Operating your Hackensack business through proper legal structures provides essential protection. Both corporations and LLCs offer liability shields that can protect personal assets from business claims.
Trust Structures Two primary trust options are available to Hackensack residents:
- Revocable Living Trusts: Provide probate avoidance and incapacity planning
- Irrevocable Trusts: Offer enhanced asset protection and potential tax benefits
Essential Protection Tools
Insurance Coverage Hackensack property owners and businesses need comprehensive insurance protection, including:
- Professional liability coverage
- Property insurance
- General liability protection
Power of Attorney Documents Bergen County residents should establish:
- Durable financial power of attorney
- Healthcare directives
Risk Management in New Jersey
New Jersey state law provides specific exemptions and protections for certain assets. Working with a Hackensack-based asset protection attorney ensures your plan aligns with state regulations while maximizing available protections.
Local Asset Protection Services
Our Hackensack office specializes in creating customized asset protection strategies for Bergen County residents and businesses. We understand the local business environment and can help implement effective protection measures before they’re needed.
For help with asset protection, please contact Attorney Benjamin D. Eckman.