Why is it still important to do my estate plan in a poor economy?
In a poor economy people are concerned about other issues rather than the law. However, a
good estate plan can offer protections you may not know about. A good estate plan (also
known as a living trust), can offer asset protection and privacy in addition to probate, and death
tax protection. In a poor economy, lawsuits rise. People need money, and filing lawsuits on
you personally or on your business is a great way to get it. Our estate plans can help hide your
assets and make it appear as if you have no money. Therefore, there is not a reason to sue. At
the time of this blog (April 2023), over 4,000 companies have announced layoffs. The list seems
to be getting bigger daily. This is a trying time for our economy. In our firm, we are seeing a
plethora of clients that are either the plaintiff or defendant in various lawsuits. These are the
highest numbers of lawsuits we have seen in 16 years. A good estate plan can offer you asset
protection measures to hinder people from being able to collect judgment from you and
encourage settlement. Please call us for a free phone consultation today!