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Real Estate FAQs

Estate Planning Asset Protection FAQs2021-03-08T05:38:26-08:00

Common Questions in Real Estate

Here are some of the frequently asked questions (FAQs) on estate planning and asset protection sent to us at Moschetti Law Group.

How can I protect my personal assets?2020-11-25T09:09:53-08:00

Estate planning involves all an individual’s assets, not just real estate. Personal assets also include family heirlooms, jewelry, and more. Various trusts will adequately protect these assets, but it depends on the assets and goals and directives for what should happen with them. The Moschetti Law Group can help you find the right type of trust to safeguard your most precious items.

How do I protect my assets in a divorce?2020-11-25T09:11:16-08:00

A prenuptial agreement is your best plan of action here, but if you did not create one with your spouse before you got married, you could still create a Postnuptial Agreement. Other options include Revocable and Irrevocable Trusts, and the Moschetti Law Group can help you determine which would be best given your specific situation.

How do I protect my assets from creditors?2020-11-25T09:11:46-08:00

Even if you don’t have any creditors now, it’s wise to have a protection plan in place if you have them later. Protection like that of an Irrevocable Trust can prevent creditors from having access to your assets. The Moschetti team will help you find the perfect protection plan to ensure your assets stay in the hands of your loved ones.

Can my creditors take my child’s inheritance?2020-11-25T09:12:14-08:00

The short answer is yes. If you transfer assets to your child or heir in a simple protective trust, creditors can access that money. Trusts like the dynasty or education trusts prevent creditors from accessing these transferred assets.

Can my child’s ex- take my child’s inheritance for child support or alimony?2020-11-25T09:13:13-08:00

Again, the short answer is yes. However, you can protect your assets from claims like these using an Irrevocable Trust or Dynasty Trust.

What is a Trust Fund?2020-11-25T09:13:46-08:00

Trust Funds are Irrevocable Trusts managed by a trustee who distributes the assets to your beneficiary as you specify when you create the trust. The trusts prevent anyone but the beneficiary from accessing the assets, including creditors (yours or your children’s), and your children’s spouses.

What is a Self-Settled Trust?2020-11-25T09:15:17-08:00

In contrast to most trusts, a self-settled trust is created by the same person named the beneficiary of the trust. These trusts are usually not protected from creditors.

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