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Any thoughts on ARKK and MGK ?
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Trusts. There’s a few types. Work great, set benefactors, need an executor.
By basics, I mean types of joint ownership (TBE if available), homestead capabilities, titling of property, etc. Also, interesting vehicles like properly securitizing and encumbering assets might be a good possibiity. Revocable trusts don't offer asset protection, not all irrevocable trusts are irrevocable and therefore fail as the intended asset protection vehicle, if drafted improperly, not all irrevocable trusts lose their irrevocability and asset protection capabilities at the same time (more advanced attorneys). There a ton more, but at a minimum, you should inquire and have: guardianship papers for yourself, spouse, and dependents, will, revocable trust ( but offers no protection except additional anonymity vis a vis avoiding probate), living will (depending on your views). There are some other cool things you can do and depending on your situation, if you're married, and especially if you have children from a previous marriage, you should consider seeing private counsel.
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Find an attorney who is willing to discuss basics of estate planning and asset protection. Also keep in mind the relative clawback periods, generally 4 years (varies by state) and maybe 10 years in a BK situation, so start asap.
Thanks for the detailed response!
No problem. Oh and if you're in a community property state, that's a whole new bag of tricks. There are actually some good attorneys' blogs on the google machine that answer a ton of general questions.