Elder Care Attorney, Mindy Felinton reminds readers that we live in a litigious society and that waiting until a need arises for asset protection is too late. She urges readers to be proactive in working with a reputable attorney to establish an estate and asset protection plan.
Delray Beach, FL. January 27, 2020: Mindy Felinton, founder of Felinton Elder Law & Estate Planning Centers, has posted a new article on her law firm’s website entitled “If You Have An IRA Or 401k You Have An Estate To Legally Protect,” in which Ms. Felinton establishes that everyone, not just the wealthy, has assets to be protected.
As Felinton points out, “Most people typically think someone who has an estate plan is rich and famous with millions of dollars that will be divided among heirs upon death.” She continues, “Images of fighting siblings after the rich parent’s death is a common scene in many movies. However,” she adds, “you don’t have to be among the rich and famous to have an estate nor to have an attorney to protect that estate.”
According to Felinton, “An estate is comprised of assets and most working people have an IRA or an employer provided 401k plan.” She goes on to say that, “If one is diligent and works for a company for many years, one could have tens of thousands or hundreds of thousands of dollars in a retirement account.” “That,” says Felinton, “means you have an “estate.” If you own a home, that’s part of your estate. As your savings grow and your home increases in value, that means your estate is growing in value.” She explains, “What an estate and asset planning attorney does is legally protect assets against anyone who decides they want to try to grab some or all of your assets by filing a lawsuit against you.”
Felinton poses, “Have you ever heard of divorced couples fighting over assets?” She says, “I’m sure you have.” She goes on to elaborate, “Asset protection is not about being unfair. It’s about not letting yourself get into a position to be wiped out financially by someone willing to go to the nth degree to get your money.” Felinton reminds readers, “We live in a very litigious society and it happens every day. People are often looking for a reason to file a lawsuit against someone. You have to be politically correct in so many ways and if you run into a litigious person and say or do the wrong thing at the wrong time, you could potentially be facing a lawsuit.”
The entire article can be read at https://www.felintonlaw.com/if-you-have-an-ira-or-401k-you-have-an-estate-to-legally-protect/
About Mindy Felinton
From a young age, Mindy wanted to be the voice that would make an impact in people’s lives. She became an attorney and has practiced law for over 30 years, so that she could fulfill her desire to help others. As a special prosecutor, Mindy defended the underdog (literally) in cases of animal abuse. As a state attorney in Florida she fought for justice. During the last 25 years, Mindy met many wonderful people who did not know their rights, did not understand the law, and did not know what options were available.
Mindy assists families with Medicaid planning to help with the cost of nursing home care and with obtaining veteran’s benefits to make the cost of care more manageable. She also prepares wills, trusts, powers of attorney, and medical directives. Mindy is passionate about educating both other professionals and the public concerning VA Aid & Attendance benefits, Medicaid benefits, and the use of trusts for the protection of assets. She shares her experience and professional knowledge through free workshops, and as a frequent lecturer at State Bar Conferences.