When creditors come calling, you may lose significant amounts of your wealth if you’re not protected. Since a civil lawsuit can happen to anyone, shield your money from creditors and taxes with an asset protection specialist. You’ll find the best asset protection lawyers at the Albert Maimone & Associates, P.C. local law practice in Queens, although they serve all five boroughs of NYC, including Nassau and Suffolk counties. Call them today for a free consultation.
What Is Asset Protection?
Asset protection is a part of your financial planning that involves a framework of strategies based on federal and state law. The idea behind asset protection is averting or limiting claims that creditors may place on your wealth or assets, either in the present or in the future. In practice, this method works as a shield or an invisible wall that prevents anyone from getting your assets.
To correctly implement an asset protection plan, you need to consult an asset protection attorney. For legal advice in the five New York City boroughs — Queens, Brooklyn, Manhattan, the Bronx and Staten Island — as well as in Nassau and Suffolk counties, the boutique law firm Albert Maimone & Associates offers dependable legal services and skilled representation. This asset protection law firm uses a client-based approach, ensuring the strategy fits your asset protection requirements.
Do I Really Need Asset Protection?
Many people may believe that asset protection helps them avoid paying taxes. These people think of asset protection as a fraudulent concealment method that wealthy people use to hide money and assets from the government or for bankruptcy fraud. In reality, asset protection uses the law to protect your assets.
The legal framework for asset protection is designed to work for everyone who has an asset that may be seized and then sold for cash. Individuals, as well as small-to-medium-sized businesses, benefit the most from asset protection because:
- You may be sued for a car accident, over a slip and fall on your land or for property damage.
- You may become embroiled in real estate litigation, such as for a neighbor dispute or property dispute.
- You can be held accountable for residential landlord/tenant or commercial landlord/tenant problems like a case involving housing discrimination or environmental hazards.
- The government may think you owe property taxes.
- Banks may try to repossess your assets as payment against a bank loan or credit card debt.
- You may have to deal with civil litigation related to trying to open or close a business or trying to buy or sell a business.
- You may not have thought to have your spouse sign a pre-nuptial agreement, but during divorce proceedings, the biggest battle couples face is about splitting their assets.
What People Say
Albert was a recommendation from a friend, and we were very grateful for this because Albert and his team were empathetic with our situation (this was an estate sale that was long and arduous). Albert went above and beyond for us by communicating with the estate lawyers, diligently reviewing and correcting all documents, negotiating on our behalf and most importantly was always willing to assist us (he was superb with his follow-up and replies to any of our inquiries). Thank you Albert! We highly recommend him!
What People Say
Ive used Albert Maimone for about 5 years and he has always looked out for me. He helped me purchase my house and get my mortgage and has also helped me out with tennant non payment cases .When ever i have a question or concern he always gets back to me fast and his rates a very reasonable. He has a lot of knowledge and experience in the law field, and his track record speaks for its self .Very simply he treats his clients like his family and i appreciate that.I look foward to keep using Albert in my future financial transactions. In conclusion I Highly Highly Highly recommend Albert Maimone !!!!!!!!!!!!!!!!!!
What People Say
I have used Mr Maimone for three property closings and I must say here is a Man you can trust with your life. He protects his clients to no end in one deal he found so many loop holes in the contract that no one else would ever take the time to find,it was amazing, so much so that at the closing the other sides Attorney could not stop praising Mr Maimone to the point he had to admit that he had learned so much from working with Mr Maimone. I recommend him to all My family and friends and always have them raving to me on how great he is after they use him in my eyes he's the best and I would never use anyone else.
What Assets Can Be Protected?
An asset is defined as any object you exchange for goods or cash. Basically, anything that you can own or is considered valuable can be an asset. Start your asset protection journey by getting a free consultation and case evaluation from an experienced asset lawyer like those at Albert Maimone & Associates. They identify which of your assets may be deemed protected under the federal and state law. Common assets an individual or a business entity can protect include:
- Real estate
- Social security under federal laws
- Cash, certificate deposits, checking and savings accounts
- Cars, boats or planes
- Inheritance
- Intellectual property
- Machinery and equipment
- Books and paintings
- Furnishings
- Watches and jewelry
Your asset attorney needs in-depth knowledge about real estate law, business law, debtor-creditor law, family law, criminal law and estate and probate law. With this knowledge, your asset protection attorney can devise a personalized strategy based on your specific assets and the judicial law in New York State.
With an asset protection law firm like Albert Maimone & Associates, you get comprehensive estate planning and probate representation. Consultations are free, and your case is reviewed within 48 hours. No matter what your reasons, asset protection helps you build and preserve your hard-earned wealth. Contact the best asset protection lawyers in Queens, New York today.