Business and Estate Planning
that makes sense

Ohio Asset Protection

The asset protection attorneys at Mark Pirozzi LLC can help you navigate the recent revolution in Ohio's asset preservation law. The “Ohio Legacy Trust Act” has created a new opportunity to protect your assets from future creditor claims.  This newly enacted legacy law has put Ohio at the forefront of asset protection trusts. 

The Ohio Legacy Law allows you to establish an Irrevocable Trust to preserve assets in trust for the benefit of your children, grandchildren or other beneficiaries.  The creator of the trust may receive income and up to five percent of the principal per year. Additionally, the third-party trustee may have the discretion to make additional distributions of principal pursuant to standards specified in the trust.  

The asset protection attorneys at Mark Pirozzi LLC will help you carefully craft your asset protection plan to ensure protection from federal and state taxes to the extent possible.  While it is still true that the only certainties in life are death and taxes, a prudently designed asset protection plan can take advantage of tax exemptions so that the least amount of tax is paid.  

Another important aspect of asset protection, that the attorneys at Mark Pirozzi LLC focus on is helping you ensure that what you leave your children is protected from their future creditors or their future ex-spouses.  An individually tailored asset protection plan can help you protect the assets you have worked hard for and would like to leave for your children and grandchildren.

Contact Mark Pirozzi LLC to talk with our attorneys about an asset protection plan for you.