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Elder Law Long Island - SCHNEIDER, GARRASTEGUI & FEDELE PLLC
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Melville, NY, Asset Protection Lawyer

Schneider, Garrastegui, & Fedele, PLLC helps clients protect their assets through trusts and other estate planning strategies.
Call Us (631) 756-6006

Asset Protection in Melville, NY

If you have accumulated significant assets, it can feel like you have a target on your back. First, it opens you up to lawsuits, even from people who don’t have true legal claims. Second, you risk losing a large chunk of your estate through taxes. These problems can make it hard to enjoy your Golden Years and might prevent you from leaving a lasting legacy after you pass away. Fortunately, you can protect your wealth and your legacy with help from a Melville, NY, asset protection lawyer.

Our firm can help you shield your assets from creditors and lawsuits while reducing or eliminating estate taxes. Then you can continue to accumulate and grow your wealth without worrying about losing vulnerable assets. Begin the process by scheduling a strategy session with an attorney from our firm.

Why You Need to Protect Your Assets

There are numerous reasons to protect and shield your assets. Consult with our Melville asset protection lawyer to find out how you can protect yourself against:

  • Estate taxes
  • Business lawsuits
  • Creditor judgments
  • Personal liability

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Why Choose Schneider, Garrastegui, & Fedele, Pllc?

  • Hyper-focused on Your Needs – While some firms dabble in numerous practice areas, we focus on elder law and real estate. Our limited scope of practice allows us to stay up-to-date and provide hyper-focused, client-centric legal services.
  • Highly Rated – Our firm has accumulated numerous 5-star reviews on Google, Facebook, Yelp, and Avvo.
  • Two Locations to Serve You – Visit our fully staffed Class A office space in Melville, NY, or make an appointment at our satellite office in Hauppauge, NY.
  • Small Firm with Big Firm Assets – As a small firm, you can expect hands-on, customized service with us. At the same time, our assets are comparable to a much larger firm, so we have the resources to help clients of varying and even challenging needs.
  • Bilingual Support – With both English and Spanish-speaking staff and attorneys, you’ll feel at home at our firm.
Questions or Schedule An Appointment? Click to Call (631) 756-6006

Trusts For Asset Protection

Our Melville, NY, asset protection lawyer can set up a trust to shield your wealth. Once you transfer assets into one of these trusts, they’re no longer part of your estate, meaning creditors cannot seize them if they obtain a judgment in court. At the same time, you can receive income from the trust, although there might be limits in place depending on your goals.

There are a variety of asset protection trusts available, including domestic asset protection trusts. Setting up the right one is critical, so consult with an attorney before moving forward. Your lawyer can go over each option with you and make recommendations based on your assets and long-term goals. Then you can take steps to protect your wealth, so you’ll be able to leave something behind for the next generation.

Mitigating Estate Taxes

New York has what’s known as an estate tax cliff. All of your assets will be subject to the estate tax if you fall off the cliff. Unfortunately, that means your loved ones won’t receive as much as expected when you pass away, which will hurt your legacy.

Fortunately, our Melville, NY, estate planning lawyer can go over strategies to mitigate estate taxes. This might include lifetime gifts, charitable bequests, and other tax-mitigation strategies.

Because each situation is unique, it’s important to consult with an attorney to develop the right plan for your needs. Contact us today so you can begin the process of protecting your assets.
Questions or Schedule An Appointment? Click to Call (631) 756-6006

Can You Protect Assets With A Revocable Trust?

Revocable trusts are an attractive option because you can create, fund, and manage the trust without using a third-party trustee. Also, you have the authority to modify or revoke it at any time. However, revocable trusts do not shield assets from creditors or judgments. Thus, you will need to consider another asset protection strategy. First, set up a consultation with our Melville. NY, asset protection lawyer to discuss irrevocable trusts and other options. Then your lawyer can help you protect your wealth.

Don’t Wait Until It’s Too Late

Some people wait to incorporate asset protection strategies until they’ve been served with a lawsuit. Unfortunately, that’s typically too late. The opposing attorney will review your financial history and try to recover assets recently transferred out of your estate. However, if you start now, you will have the protection you need down the road. Thus, contact our Melville, NY, asset protection lawyer today to develop a plan.

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135 Pinelawn Rd #250s, Melville, NY 11747
Questions or Schedule An Appointment? Click to Call (631) 756-6006

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Schneider, Garrastegui & Fedele PLLC

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Mon-Fri 9am to 5pm
Clients first entrusted us to help them with their estate planning and elder law issues over 30 years ago. Since then, we have expanded our practice to include real estate, but our focus continues to be on assisting clients with some of the biggest issues they will face in their lives.
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The information you obtain at this site is not, nor is it intended to be, legal advice. You should consult an attorney for advice regarding your individual situation. Contacting us does not create an attorney-client relationship.

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