Asset Protection Plan. Protect. Prosper.

Grand Rapids Asset Protection Lawyer

Protecting your asset portfolio is a key part of a well-designed estate plan. Your plan should safeguard your full range of assets, including real estate, investments, and business interests. Asset protection is the strategic process of shielding what you have worked to build throughout your lifetime from financial risks such as creditors, lawsuits, or unforeseen liabilities. 

At Inhulsen Law, our experienced team can help you explore practical protection solutions tailored to your asset mix while remaining in compliance with the law. Whether planning for retirement, managing business risks, or securing generational wealth, we can clarify your options and help you take the proper steps for adequate protection.

Start the conversation with our Grand Rapids asset protection team at Inhulsen Law. Call (616) 345-2810 or submit our online contact form for a free consultation.

Asset Protection Methods

Michigan law provides a variety of strategies to help you protect your assets effectively. Some of the most commonly used methods include the following. 

  • Trusts: Irrevocable trusts remove assets from your personal ownership, shielding them from creditors and legal claims. Meanwhile, spendthrift trusts offer additional protection by preventing beneficiaries from mismanaging funds or exposing them to creditor risks. 
  • Limited liability companies: An LLC can separate businesses or rental properties from your personal wealth, limiting liability and shielding your assets from business-related risks. 
  • Legal exemptions: Michigan provides statutory exemptions to protect certain assets, including your primary residence (through the homestead exemption), retirement accounts, and some life insurance policies. These protections can be included in your estate plan to ensure financial security. They are helpful in personal bankruptcy or judgment situations.
  • Strategic gifting: Transferring ownership of certain assets can reduce your taxable estate while distributing wealth according to your wishes. This method minimizes exposure to future claims and helps preserve generational wealth.
  • Proper titling: These include tenancy by the entirety, a form of ownership for married couples that protects jointly owned real estate, and joint tenancy with rights of survivorship. 
  • Prenuptial and postnuptial agreements: For clients concerned about divorce impacting their wealth, these agreements can help secure assets acquired before or during a marriage.

These tools and methods require careful planning and knowledgeable legal guidance to comply with the law and maximize their benefits.

Our Clients Say It Best

    “The knowledge and professionalism were invaluable.”
    “I have been very impressed with Inhulsen law services. The knowledge and professionalism were invaluable. John explained everything clearly and kept me informed throughout the process. I was very pleased with the successful outcome and learned so much from him. I would highly recommend this place!”
    - Lourdes B.
    “Look no further Inhulsen Law!”
    “If you are looking for an attorney who will truly help you build the life you deserve, then look no further Inhulsen Law. As an attorney who has the opportunity to collaborate with John, I can attest to his depth of knowledge as well as his commitment to excellence. Whether you need assistance with the complexities of business formation and planning or building and estate plan to protect the future of your family, John will apply a creative and honest approach that will make you instantly realize you made the right choice hiring Inhulsen Law.”
    - Joshua S.
    “Fantastic firm”
    “Fantastic firm, very personable and receptive to what you’re looking for. Listened to my mom and I for her estate planning. Angela was also very attentive to our needs. Have a life long partnership. Thank you both!”
    - Salty Dog
    “You should work with Inhulsen Law.”
    “My wife and I had a very positive experience working with Inhulsen Law to update our Will and to put our assets into Living Trusts. The process is very thorough and they take a no-pressure approach to understanding your needs and will give you multiple options, explaining the benefits of each. They use a model where no question is a bad question and will break down what can seem like a complicated process into an easy to understand format. They take a very personal approach to getting to know you and your needs and we never felt rushed, pressured, or confused throughout the whole process. If you want an Attorney who values their clients seeking a long term relationship with you, you should work with Inhulsen Law.”
    - Curt W.
    “I had an excellent experience working with John”
    “I had an excellent experience working with John on our estate planning. He took the time to explain everything clearly, answered all of our questions, and made what initially felt overwhelming into a smooth and stress-free process. We truly appreciated his attention to detail, professionalism, and ability to tailor the plan to our family’s specific needs. We now feel confident knowing everything is in order. We highly recommend John Inhulsen to anyone looking for a knowledgeable and caring estate planning attorney.”
    - Becky L.
    “I definitely recommend him and his services!”
    “I had John draw up my will and was so impressed with how knowledgeable and kind he and his staff were. The process was thoroughly explained and it is a huge relief to have things settled for my kids. I definitely recommend him and his services!”
    - Heidi H.
    “Answer to prayer!”
    “Answer to prayer! My husband and I finally decided it was time to put a Trust and Will in place. It was unnerving to think about estate planning because we did not know who to talk to, where to start or what to expect. Thankfully, after searching the internet for a law firm, we discovered Inhulsen Law. We were more than impressed with the outstanding reviews! Setting up an appointment with John was simple and quick. The entire process was explained to us in an uncomplicated way. In our first meeting with John it was apparent to us that he has a genuine interest in building relationships with people and helping them obtain their goals. John's character is stellar and his knowledge of the law is extensive. It feels good to have a law firm you can trust and someone like John you can reach out to and feel confident he will point you in the right direction.”
    - Lori A.
    “John's professionalism is first tier.”
    “Recently John Inhulsen took time out of his day to call me when I encountered a legal matter over my head. John talked me through it and made me feel so much better about what I was facing. John's professionalism is first tier. Obviously, he knows and understands the legal world, all aspects. I recommend his team highly.”
    - Ted L.

Benefits of Asset Protection

Asset protection planning offers crucial safeguards for preserving wealth and securing your financial future. 

For example, Michigan’s homestead exemption shields a portion of your primary residence’s value, while retirement accounts and specific life insurance policies also receive protection under state law. These tools allow your hard-earned assets to remain available for you and your loved ones, even in difficult situations.

Asset protection can prevent the loss of wealth due to legal claims, medical expenses, or business liabilities. It allows your legacy to be passed down to future generations, complimentary from unnecessary risks. With a well-designed plan, you can confidently manage your assets and safeguard your family’s financial well-being.

Discuss your needs and concerns with our firm by contacting us at (616) 345-2810 for a complimentary consultation.

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