Bronx Asset Protection Attorney

Your wealth is the result of hard work, smart planning, and personal sacrifice. Asset protection is the legal process of safeguarding that wealth from future risks, such as lawsuits, creditors, long-term care expenses, or business liabilities. At Cavallo & Cavallo, our Bronx asset protection attorneys help individuals, families, and business owners in New York protect what they’ve built through smart, ethical, and customized legal strategies.

Asset Protection Planning in the Bronx, NY

Asset protection involves organizing your finances and property in a way that shields them from unforeseen legal or financial threats. The goal is to keep assets secure while maintaining control and legal compliance. This type of planning is especially important for:

• Professionals in high-risk industries (doctors, landlords, contractors)
• Small business owners
• Individuals with significant personal or investment property
• Families planning for long-term care costs
• Anyone concerned about lawsuits or creditors

Asset protection is proactive, not reactive. Once a lawsuit is filed or a claim is made, your planning options become limited. The earlier you start, the more effective your plan can be.

Why Asset Protection Matters in New York

New York has creditor-friendly laws that make it easier for judgments to be enforced. That means your personal or business assets may be vulnerable if you’re sued, default on a loan, or face a major medical expense.

Without protection in place, you could lose:

• Real estate (including your home)
• Bank and investment accounts
• Business interests
• Rental income or retirement savings
• Inheritance intended for your children

Proper planning can legally separate your personal wealth from potential risks and give you greater peace of mind.

Common Asset Protection Tools

At Cavallo & Cavallo, we use a wide range of legal strategies to shield our clients’ assets from loss. Each plan is tailored to your situation and long-term goals.

Irrevocable Trusts
Assets placed in an irrevocable trust are removed from your personal ownership. This protects them from creditors, lawsuits, and Medicaid spend-down requirements, while allowing you to benefit from them under the trust terms.

Limited Liability Companies (LLCs)
LLCs are an excellent tool for landlords and business owners. They help separate your business and personal liabilities, reducing your exposure in the event of a legal claim against the business.

Homestead Exemption
New York offers a homestead exemption that protects a portion of your primary residence’s value from certain creditors. Strategic planning can maximize this exemption.

Retirement Accounts
401(k)s and IRAs are generally protected from creditors under federal and state law. Coordinating how you title and fund these accounts can strengthen your plan.

Insurance Coverage
Supplementing your asset protection plan with umbrella insurance or professional liability coverage helps you stay prepared for emergencies or legal challenges.

Prenuptial and Postnuptial Agreements
These agreements can protect inherited or pre-marital assets in the event of divorce, especially for those entering second marriages or family businesses.

Medicaid and Long-Term Care Planning

Many people don’t realize that nursing home care in New York can exceed $150,000 per year—and Medicare doesn’t cover long-term stays. Without proper planning, families are often forced to spend down their savings to qualify for Medicaid.

Asset protection planning for Medicaid can include:

• Transferring assets to an irrevocable Medicaid trust at least five years before applying
• Gifting assets within annual IRS limits
• Separating spousal assets to preserve wealth for the healthy spouse
• Coordinating your estate plan with healthcare and financial powers of attorney

We guide clients through legal strategies to protect assets while maintaining or achieving Medicaid eligibility for future care.

Real Estate Asset Protection

For many Bronx families, their most valuable asset is their home. Protecting real estate from creditors, lawsuits, or probate delays is a top priority.

Real estate planning strategies include:

• Titling property in the name of a trust or LLC
• Using a life estate deed to retain control while naming a beneficiary
• Ensuring liability insurance is adequate and up to date
• Protecting rental income and investment properties from personal liability

We help property owners take steps now to avoid risk later—while maintaining flexibility and control.

Business and Professional Risk Management

If you operate a business in the Bronx, your personal assets may be at risk from lawsuits, debts, or partner disputes. Asset protection planning can help create legal separation between you and your company.

Our strategies may include:

• Structuring your business as an LLC, S corporation, or partnership
• Creating operating agreements that define ownership and succession terms
• Separating personal and business finances and liabilities
• Protecting intellectual property and business assets through licensing or trusts

We work with professionals, landlords, and entrepreneurs to reduce exposure while preserving opportunities for growth and investment.

Frequently Asked Questions About Asset Protection

Is asset protection legal?
Yes. When done properly and proactively, asset protection is completely legal. It involves structuring your finances to reduce risk—not hide assets or defraud creditors.

When should I start planning?
The earlier the better. You must establish protection before any legal claims or financial problems arise. Courts can undo transfers made with the intent to avoid current creditors.

Can I protect my home from creditors?
In many cases, yes. Options include placing your home in an irrevocable trust, maximizing your homestead exemption, or protecting equity through proper titling.

Will a living trust protect my assets from creditors?
A revocable living trust does not protect assets from creditors because you still have control over the property. Irrevocable trusts, however, can offer strong protection.

Is an LLC necessary for every rental property?
Not always, but creating an LLC can significantly reduce liability, especially for landlords with multiple properties. Each property may benefit from its own LLC depending on the value and risk.

Can I use offshore trusts for asset protection?
While offshore planning exists, most people can achieve effective protection with domestic trusts, LLCs, and legal tools available under New York law. We focus on safe, ethical strategies tailored to our local clients.

Serving Throughout The Bronx

• Riverdale
• Spuyten Duyvil
• Pelham Bay
• Morris Park
• Throggs Neck
• Kingsbridge
• Woodlawn
• Parkchester
• Bedford Park
• Fordham

How Cavallo & Cavallo Can Help

At Cavallo & Cavallo, we understand the unique financial, legal, and real estate concerns facing individuals and families in the Bronx. Whether you’re planning for retirement, managing rental property, or building a business, we provide trusted legal advice to protect your wealth and prepare for the future.

Our asset protection services include:

• Trust and estate planning
• Medicaid and long-term care strategies
• Business entity formation and structuring
• Real estate ownership planning
• Insurance and liability review
• Coordination with financial advisors and tax professionals

We take a thoughtful, personalized approach to asset protection and make sure you’re covered from every angle—while staying compliant with the law.

Talk to a Bronx Estate Planning Attorney About Asset Protection

Don’t wait until it’s too late. Protect your property, savings, and legacy with help from a trusted Bronx asset protection attorney at Cavallo & Cavallo. Contact us today to schedule your consultation and build a plan that keeps your future secure.