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Asset Protection

Ohio Asset Protection Lawyer

At Budish, Solomon, Steiner & Peck, LTD, our estate planning lawyers help clients protect their assets against a variety of circumstances.

Asset protection planning is typically part of our Medicaid planning services. We explain methods by which you can legally preserve your assets and still qualify for Medicaid, the government program that pays nursing home costs for people who cannot afford to pay the bill themselves.

The Medicaid program requires individuals with assets to spend their own money on nursing home care. If the government discovers you have given money away to your children or others in the past five years in order to qualify for Medicaid, you will have to pay the nursing home bills yourself. This "look back" period is expected to become even longer in the future.

Protecting the Family Estate

Many clients want to ensure that the assets they pass down to their children or grandchildren do not go to a spouse in a divorce or go to pay off creditors in a bankruptcy. With proper asset protection planning, you can preserve your legacy for the beneficiaries you choose. Through the use of a trust or an LLC, we can ensure that these assets do not disappear due to divorce, bankruptcy or lawsuits.

The Medicaid Trust

A Medicaid trust is one alternative that will allow you to preserve your assets and still qualify for Medicaid. Once you place funds in the trust, you cannot get them back. You can, however, receive the interest or dividend income the principal generates through investment.

We also help business owners with asset protection. Our business law attorneys will form an LLC to protect business owners from losing their personal assets in the event of a business-related lawsuit.

We also form LLCs for the owners of rental real estate to protect these assets from creditors.

In certain circumstances, we recommend protecting your assets through the use of a more complicated estate planning tool, such as an Alaska or offshore trust.

To discuss your need for asset protection, please contact our law firm.

From three locations, we provide asset protection services to clients throughout northeast Ohio.

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DB
Bedford, Ohio

"Once again my sincere thanks for the thorough and efficient manner in which you've handled everything and given my parents complete peace of mind."

FS
Concord, Ohio

"We cannot adequately thank you enough for your time, talents and expertise explaining what needs to be accomplished for our parents Medicaid applications. You were so thorough, so patient in listening to us whenever we began relating stories about family issues, and so knowledgeable. Thank you so very much for your competent direction."

DSV
Chagrin Falls Ohio

"We were greatly relieved as a family to have Laurie Steiner's guidance and great insight into elder care/family law as I moved my father and developmentally challenged sister to NE Ohio. With that brought layers of decisions from various factions of benefits/laws/governances. And during my father's final days she and her colleagues were amazingly astute and responsive as we considered all options should my father's condition linger. And more recently, an unusual, often misunderstood situation with my sister's Medicare Premium benefits when it was only Laurie that could bring any clarity to otherwise well-meaning staffs of people whose job it is to understand the complicated nuances the Medicare/Medicaid benefit system often presents."

RG
Lyndhurst Ohio

"I and our family would like to thank you again for the kindness and professionalism you showed us during the last several months that were involved with taking care of my wife Again thank you very much and I would be more than happy to recommend your services to any interested party."

LJT
Strongsville, Ohio

"Laurie and Josephine deserve special recognition for their exceptional interest."

CS
North Royalton, Ohio

"Jennifer Peck did an excellent job. Our whole experience was good and everyone was very helpful"

PR
Mentor, Ohio

"Everyone was very friendly and made us feel at ease. It was our first time dealing with attorneys."

GS
Seven Hills, Ohio

"Laurie Steiner explained everything excellently."

REK
North Olmsted, Ohio

"Everyone has always acted extremely professional. Jennifer and Ann deserve special recognition because they both were understanding, kind, and very helpful to my wife and I."

CL
Mayfield Hts., Ohio

"All Staff have been great!"

MAR
Mayfield Hts., Ohio

"Your staff was so helpful for me to understand it all. You made this all so easy for me-was a wonderful experience."

JB
Akron, Ohio

"Thanks so much for all your expertise and patience."

AN
Stow, Ohio

"Once again your firm has provided outstanding legal services, that I have come to expect and appreciate."

DL
Solon, Ohio

"You've always been very responsive, kind and helpful, and all three are greatly appreciated."

PK
Middleburg Hts., Ohio

"My sister and I have truly appreciated all your help and your firms help throughout this whole situation with our mom as everything was handled in a very professional manner."

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Phone: 216-245-0185
Toll free: 1-866-642-0932
Fax: 216-595-2787
Email: Contact Us

Beachwood
Commerce Park IV, Suite 450
23240 Chagrin Boulevard
Beachwood, OH 44122
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Independence
6100 Oaktree Blvd.
Suite #200 - Park Centre 1
Independence, OH 44131
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Westlake
159 Crocker Park Boulevard
4th Floor
Westlake, Ohio 44145
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