NYC Asset Protection Attorney Christine Matus (https://matuslaw.com/estate-planning-attorney-new-york-city/asset-protection-lawyer/) is emphasizing the importance of proactive planning to protect wealth from potential risks such as lawsuits, creditors, and long-term care costs. As founder of The Matus Law Group, Christine Matus has been working with families for over two decades, helping them implement legal strategies to safeguard assets and preserve legacies for future generations. She notes that having a well-designed protection plan in place can make assets more difficult to attach, potentially discouraging litigation altogether.
According to NYC Asset Protection Attorney Christine Matus, asset protection is not reserved only for high-net-worth individuals; anyone with property, retirement accounts, or other valuable holdings can benefit from creating a protection plan. As an experienced New York City asset protection attorney, she stresses that the most effective measures are those implemented before any claims arise. Once a lawsuit or creditor action has begun, asset transfers can be challenged, making it harder to protect wealth. “If assets are adequately protected, the litigant may choose not to pursue a claim due to the cost and unlikelihood of a recovery,” Matus explained.
Christine Matus, an NYC Asset Protection Attorney, offers insight into the range of tools available under New York law. These include forming Limited Liability Companies to separate business and personal finances, using irrevocable trusts to keep assets out of reach of future creditors, and taking advantage of statutory exemptions like the New York homestead exemption and protections for certain retirement accounts. As a New York City asset protection attorney, she also discusses more specialized tools such as Medicaid Asset Protection Trusts, inheritance trusts, and prenuptial or postnuptial agreements, each tailored to the specific needs of the client.
For business owners, landlords, or investors, Matus recommends considering an LLC as a first line of defense. When structured and maintained properly, an LLC can shield personal property from business liabilities, although she cautions that the protection can be lost if corporate formalities are not observed. For individuals concerned about long-term care costs, she highlights Medicaid Asset Protection Trusts, which can help preserve eligibility for nursing home care while protecting the principal for heirs.
Christine Matus points out that some asset protection tools, such as irrevocable trusts, require early planning to be effective. For example, Medicaid planning in New York requires that certain trusts be funded at least five years before applying for nursing home coverage to avoid penalties. She explains that early action can provide peace of mind and financial stability, especially for families looking to pass on their assets without the risk of loss through divorce settlements, creditor claims, or poor financial decisions by heirs.
Statutory exemptions also play a role in asset protection planning. In New York City, equity in a primary residence is protected up to $204,825 per owner, with higher limits for married couples. Retirement plans such as 401(k)s, pensions, and most IRAs receive significant protection from creditors. Life insurance and annuities may also be shielded if the beneficiary is someone other than the policyholder. While these protections are valuable, Matus warns that they may not be sufficient for those with significant holdings or higher exposure to legal claims.
She also addresses the use of contractual agreements like prenuptial and postnuptial contracts to define separate property and prevent disputes in divorce. These agreements, when properly drafted and executed, can prevent personal or business assets from becoming part of marital property subject to division. Matus stresses the importance of regular review of such agreements to maintain their enforceability.
Christine Matus’s approach combines a clear understanding of New York’s legal protections with a focus on individual circumstances, aiming to create comprehensive plans that address current needs and future risks. Her work at The Matus Law Group reflects a long-standing commitment to advocacy for families, elder care, and community engagement.
Planning ahead for asset protection can reduce the likelihood of loss and offer significant advantages in the event of legal disputes. Acting before issues arise not only protects wealth but also preserves family stability and legacy.
About The Matus Law Group:
The Matus Law Group, founded by Christine Matus, serves families and individuals throughout New York City with a focus on asset protection, estate planning, and elder law. Christine Matus brings over 20 years of legal experience and is active in nonprofit leadership, community service, and legal education. The firm is dedicated to creating strategies that protect assets and help clients maintain financial security for future generations.
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