Wealth Planning and Protection

In the earlier stages of starting, running or working at a business, or helping a spouse do that, clients naturally are more focused on accumulating assets. As time goes by, and after some success, their attention usually shifts to the protection, planning and management of wealth. Accordingly, we help clients implement techniques to prevent wealth from being reached by potential creditors, minimize the amounts subject to tax and provide resources for loved ones and charitable causes.

Asset Protection. We live in a litigious society where many have very high, and perhaps unrealistic, expectations of others. Thus, it is not unusual for unsatisfied customers, patients, partners, employees, visitors and even family members to take legal action where – justifiably or not – they feel they have been wronged. Thus, it is prudent for most clients to consider measures to limit their personal liability and shield their assets in the event of a claim. There are a variety of means to do this, ranging from the way a business is established to the way real estate is owned to transferring assets into trusts or partnerships. Each case is different and must be evaluated carefully from many different perspectives. We help clients find the right asset protection approach for their situations.

Estate Planning. The goal of estate planning is a program to achieve personal and family goals, while minimizing probate or complex administrative issues and minimizing gift, estate, inheritance and other taxes. Initially, estate planning may mean simply documenting a client’s intentions for purposes of a will, heath care directive and power of attorney ("POA"). In more complex situations, this may mean creating a variety of entities, trusts or transactions to restructure the holdings of a client to provide the foundation and support for future needs of family members and charitable causes in a way the preserves assets as much as possible. The process starts with developing a detailed understanding of the client’s situation and objectives.

The attorneys and lawyers of Jeremy A. Gibson & Associates, P.C. are experienced in handling asset protection and wealth planning matters throughout the United States, including the Chicago, Illinois area. When necessary, we can arrange for appropriate financial planners, tax advisors and valuation experts to assist with your project. Please see our Experience page or contact us.