Accumulating wealth is a significant milestone, but without proper legal protections, your assets may be at risk from lawsuits, creditors, excessive taxation, business liabilities, or divorce settlements. Proactive asset protection ensures that your wealth remains secure for you, your business, and future generations.
At Kravets Law Group, we design comprehensive asset protection plans tailored to business owners, professionals, and families, helping them shield their assets while maintaining financial flexibility.
We service Illinois, Pennsylvania and New Jersey. Feel free to call us, email us, or reach out using on the form on the right.
info@kravetslawgroup.com
Illinois: 312-620-1404
New Jersey & Pennsylvania: 215-595-2206
Without strategic protection, your assets may be vulnerable to:
✔ Lawsuits & Creditor Claims – Business owners and professionals can be targets for legal claims.
✔ Divorce & Marital Property Division – Without safeguards, personal wealth can be affected.
✔ Estate Taxes & Probate Costs – High taxes and legal fees can reduce inheritances.
✔ Business Liabilities – Personal assets may be at risk if the proper structures aren’t in place.
✔ Medical & Long-Term Care Costs – Unexpected healthcare expenses can drain savings.
⚠ Once legal issues arise, it may be too late to protect your assets—early planning is essential.
Our firm implements a combination of legal tools and financial strategies to secure your assets from potential risks:
🔹 Irrevocable Trusts – Shield assets from lawsuits & reduce estate taxes.
🔹 Domestic Asset Protection Trusts (DAPT) – Provide enhanced creditor protection.
🔹 Spendthrift Trusts – Protect beneficiaries from mismanaging inherited wealth.
🔹 Dynasty Trusts – Preserve multi-generational wealth with tax benefits.
🔹 Limited Liability Companies (LLCs) – Separate business & personal assets.
🔹 Family Limited Partnerships (FLPs) – Provide tax efficiency & asset control.
🔹 Corporate Structures – Legally separate liability & financial obligations.
🔹 Tenancy by the Entirety – Protects jointly owned marital property.
🔹 Joint Ownership with Right of Survivorship – Enables seamless wealth transfer.
🔹 Transfer-on-Death (TOD) & Payable-on-Death (POD) Designations – Avoid probate delays.
🔹 Umbrella Liability Insurance – Covers lawsuits & financial claims beyond standard policies.
🔹 Business Insurance – Protects against operational & professional risks.
🔹 Long-Term Care Insurance – Safeguards retirement savings from medical costs.
🔹 Annual Gifting Strategies – Minimize estate tax burdens.
🔹 Charitable Giving Vehicles – Reduce taxable estate value while supporting causes.
🔹 Prenuptial & Postnuptial Agreements – Secure individual wealth in marriage.
✔ Personalized Strategies – Every asset protection plan is customized for your needs.
✔ Proactive Approach – Identifying risks before they become threats.
✔ Comprehensive Solutions – Integrating estate planning & asset protection.
✔ Up-to-Date Legal Knowledge – Ensuring compliance with state & federal laws.