Wealth Preservation

wealth preservation

Wealth Preservation Lawyer in Phoenix, Arizona.

Even when you work hard, protecting your assets isn’t always easy. No matter how much wealth you create, there’s always something (or someone) ready to deplete it. But that’s just life, right?

Not necessarily.

In reality, there are myriad ways to effectively protect and grow your wealth, even amid life’s little surprises. However, unless you’re working with an experienced asset protection attorney, it’s unlikely you know what they are. Luckily, that’s about to change.

At Copper State Planning, we believe that people deserve the tools to protect their hard-earned money from potential misfortunes and oversights. If you’ve accumulated significant wealth over your lifetime, you can bet there are a million ways to lose it. We’re here to make sure that doesn’t happen.

After a thorough analysis of your finances, we’ll create a comprehensive asset protection plan that addresses your estate, your business and your legacy. Keep reading to learn more about our asset protection strategies and why our law firm is your best bet for growing your wealth.

Need legal advice now? Don’t wait until it’s too late to secure your family’s financial future.

wealth preservation

What Is Wealth Preservation? 

Any estate planning lawyer or financial advisor can tell you that if you don’t have a plan for protecting and growing your wealth, you won’t have to worry about it for long.

That’s because wealth has a way of disappearing when you don’t make a plan to increase it. Luckily, that’s what wealth preservation is all about: safeguarding your wealth for you and your family members.

In simple terms, wealth preservation is a set of strategies designed to grow your wealth and protect your legacy. It is an asset protection plan that helps wealthy individuals not only protect their current holdings, but also find ways to increase the value of those assets.

As you can imagine, wealth preservation is no easy feat. It requires assistance from an experienced estate planning professional with extensive knowledge of business law and financial practices. Fortunately, our asset protection attorneys are up to the task.

Protection for Personal Wealth

Before you can increase your wealth, you need to be able to secure what you already have, which is exactly what estate planning concerns itself with. Asset protection is all about analyzing the vulnerabilities in your finances and finding the legal mechanisms to repair them.

Creating Wills and Trusts

One of the most important aspects of protecting your personal wealth is finding the best way to pass it to future generations. Although owners of modest estates may only need a will to accomplish their financial goals, owners of large estates typically require a more complex approach, including the implementation of trusts.

Trusts are a type of estate planning tool that come in a variety of forms and offer significant financial advantages. In contrast to wills, trusts are not subject to the probate process—a potentially lengthy and costly legal proceeding. With proper trust administration, you may even be able to circumvent estate taxes and ease the tax burden of your estate’s beneficiaries.

Guarding Against Creditors & Lawsuits

In addition to helping you avoid probate and decreasing your tax liability, a Phoenix trust attorney can help you establish a trust to protect your estate against claims from creditors and lawsuits. It’s essential to note that trusts are not a tool for tax evasion or similar actions; rather, they offer a legal, effective strategy for asset protection.

Fiduciary Appointments

A solid estate plan involves more than structuring your finances in an advantageous way; it’s also about planning for the unexpected. An essential part of preparing for the future is appointing the right people to carry out your wishes. Whether you need to appoint a trustee, an executor, powers of attorney, guardianships or all of the above, our experts can help.

Tax Planning

One of the biggest hurdles that high-net-worth individuals must overcome to create a comprehensive estate plan is tax planning. And before you ask—no, it’s not enough to have a CPA. That’s because navigating tax issues in high income brackets requires a higher degree of care and estate law expertise. Whether you need help navigating tax laws or income taxes, filing individual taxes or business taxes resolving IRS issues, we’re here to help.

Protection for Your Business

Business owners know the value of a profitable company, that it’s a means to provide for their loved ones for years to come. However, it can become a major financial liability if they fail to include it in their wealth management strategy. Two of the most important considerations involve business formation and succession.

Business Formation

Did you know that choosing the appropriate entity structure for your business can make it more valuable? Each business structure, from LLPs to partnerships to family businesses come with their own benefits and drawbacks. It’s essential to anticipate a business’ growth potential and what it may be worth in the future. Although time-consuming, doing due diligence now is much easier than reorganizing your business later down the road.

Business Succession Planning

Just because your company is successful doesn’t mean it will be tomorrow. This is especially true if you fail to prepare for the unexpected. A business succession planning attorney can help you anticipate potential vacancies in upper management and ensure the next generation of employees can keep the company running smoothly.

Our Asset Protection Attorneys Can Help Secure Your Legacy

There’s no one tool or technique that will protect all of your assets. To truly secure your financial future and maintain your private wealth, you need to do a comprehensive analysis of all of your assets and liabilities, as well as the most advantageous method for transferring wealth to your heirs. Luckily, you don’t have to tackle it alone.

By partnering with the asset protection lawyers at Copper State Planning, you’ll gain access to all of our estate planning tools and strategies. After carefully considering your financial goals and situation, we’ll lay out the map to get you there.

Ready to join forces with some of the best lawyers for wealth preservation in Phoenix? Our practice group is adept at handling the special needs of high-income clients. Getting started is as simple as contacting us online or calling our office at (480) 442-6413.

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