Westchester Asset Protection Attorney
Asset protection is about preserving what you’ve worked hard to build—from your home and savings to business interests and investments. Whether you’re concerned about lawsuits, creditors, taxes, or long-term care costs, proactive legal planning can shield your wealth and ensure it remains available for your future and your family. At Cavallo & Cavallo, our Westchester asset protection attorneys help residents and business owners implement effective asset protection strategies that are legally sound and tailored to their unique needs.
What Is Asset Protection?
Asset protection involves using legal tools and planning strategies to safeguard your assets from potential threats, including:
- Civil lawsuits or judgments
- Business or professional liability
- Divorce settlements
- Medical or long-term care expenses
- Excessive taxation
- Creditors or bankruptcy
The goal is not to hide assets but to structure ownership and transfer methods in a way that lawfully limits exposure and reduces financial risk. Done properly and early, asset protection keeps your wealth intact—even in the face of unexpected events.
Who Needs Asset Protection?
Anyone with assets can benefit from some level of asset protection, but it’s especially important for:
- Professionals at risk of liability (doctors, attorneys, contractors)
- Business owners
- Real estate investors
- Individuals approaching retirement
- High net worth families
- People planning for long-term care or Medicaid eligibility
Whether you’re protecting a personal residence or a growing business portfolio, we offer strategies that work for your situation.
Common Asset Protection Strategies
We design customized plans for each client, using a combination of tools and tactics such as:
Irrevocable Trusts
Transferring assets into irrevocable trusts removes them from your personal ownership, making them inaccessible to creditors or lawsuits under most circumstances.
Medicaid Asset Protection Trusts (MAPTs)
Used to preserve your home and savings while planning for potential nursing home care, without disqualifying you from Medicaid benefits.
Business Entities
LLCs and corporations can protect personal assets by legally separating them from business liabilities. We structure and register these entities to maximize protection.
Homestead Protection
New York offers limited protections for your primary residence. We help evaluate how your home fits into a broader asset protection plan.
Retirement and Insurance Planning
Properly structured retirement accounts and life insurance policies can be protected from creditors while still benefiting your family.
Gifting Strategies
Strategic gifting can reduce your taxable estate and protect assets from future claims—when done well in advance.
We evaluate your entire financial picture and recommend strategies that fit your risk profile and long-term goals.
Timing Is Critical
Asset protection must be done before a legal issue arises. Courts may reverse transfers made to avoid paying existing debts or judgments, so proactive planning is essential.
Our approach focuses on:
- Identifying vulnerable assets
- Structuring ownership before any legal problems exist
- Avoiding fraudulent conveyances
- Keeping plans compliant with federal and state law
The earlier you begin, the more effective your plan will be.
Protecting Your Home
For many Westchester residents, their home is their most valuable asset. Protecting it from lawsuits, long-term care costs, or estate taxes is a top priority.
Options include:
- Transferring your home into an irrevocable trust
- Using a life estate deed with Medicaid planning goals
- Ensuring proper ownership structure for married couples
- Coordinating real estate planning with overall asset strategy
We help ensure your home stays in your family and out of reach from future claims.
Business and Professional Liability
If you own a business or work in a high-risk profession, personal exposure to lawsuits can be significant. We help protect you by:
- Forming LLCs or corporations to separate personal and business assets
- Drafting operating agreements with liability protections
- Creating trusts to hold business interests
- Establishing buy-sell agreements to handle disputes or exits
These strategies help you grow your business while minimizing personal risk.
Asset Protection and Estate Planning
Asset protection works hand-in-hand with estate planning. Together, they ensure that your wealth is protected during your life and efficiently transferred to your heirs after death.
Key benefits include:
- Avoiding probate through trusts
- Reducing estate taxes with lifetime gifting
- Protecting inheritances from beneficiaries’ creditors or divorces
- Coordinating Powers of Attorney and Health Care Proxies
- Structuring multigenerational plans with Dynasty Trusts
We build comprehensive plans that protect your assets now and preserve them for the next generation.
Frequently Asked Questions About Asset Protection
Is asset protection legal?
Yes—when done properly and proactively. We use legal tools and strategies that comply with all applicable laws.
Can I protect my assets if I’m already being sued?
It may be too late to fully shield your assets if a lawsuit is already pending. However, we can still help manage risk and explore your options.
Are trusts the only way to protect assets?
No. LLCs, insurance, retirement accounts, and other structures can also play a role. Trusts are just one piece of a larger strategy.
Can I protect assets for my children or grandchildren?
Yes. We can structure trusts that provide long-term protection for beneficiaries while limiting their exposure to creditors, divorce, or mismanagement.
What’s the difference between revocable and irrevocable trusts for protection?
Revocable trusts offer convenience and probate avoidance, but little protection from creditors. Irrevocable trusts, when funded correctly, can shield assets from most threats.
How much does asset protection planning cost?
It depends on the complexity of your situation. We provide clear guidance and cost-effective solutions tailored to your needs.
Serving Throughout Westchester, NY
- Scarsdale
- Bronxville
- Larchmont
- Rye
- Chappaqua
- Pelham
- Armonk
- Mamaroneck
- Dobbs Ferry
- Tarrytown
How Cavallo & Cavallo Can Help
At Cavallo & Cavallo, we bring decades of experience helping Westchester clients preserve their wealth with thoughtful, customized legal planning. We combine asset protection with estate planning, elder law, business structuring, and tax strategy for a complete solution.
Our services include:
- Creating irrevocable and asset protection trusts
- Structuring LLCs and business entities
- Designing Medicaid and long-term care protection plans
- Coordinating insurance, gifting, and tax strategies
- Defending against creditor or financial threats
- Reviewing and updating existing plans for continued protection
We provide practical, legally sound solutions that grow with your life and goals.
Speak With a Westchester Asset Protection Attorney
Your wealth deserves more than hope—it deserves a plan. Contact Cavallo & Cavallo today to speak with a trusted Westchester asset protection attorney and take the first step toward securing your future and protecting your family’s financial foundation.
