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Curran Estate & Elder Law, PLLC
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Asset Protection for Professionals and Business Owners in Pennsylvania

Serving Clients in Berks County and the Surrounding Area

Asset protection planning involves making prudent decisions today to protect yourself, your business, and your hard-earned assets from loss due to lawsuits, creditors or bankruptcies. Asset protection planning is especially prudent for professionals and business owners, whose personal assets could be at risk due the nature of their employment.

Statistically and anecdotally, we all know that the number of divorces, lawsuits and bankruptcies is staggering. While no one believes lightning will strike them, wealth created through a lifetime of work, saving and investing can be lost overnight if these forms of man-made lightning do strike. To protect your assets from such disaster, proper risk management strategies should be given careful consideration. These strategies include exempting your assets from the claims of creditors, limiting your liability through legal entities, and transferring your risk through insurance.

Exempting Assets in Pennsylvania

State and federal laws exempt some of your assets from the claims of creditors. Important to note is that while some states allow you to choose either the state or federal exemptions, in others you must use the state exemptions … and federal bankruptcy exemptions are not available.

Once you have identified the protected asset classes available to you under applicable law, it may be prudent to maximize your protection by converting non-exempt assets into exempt assets.

Limiting Liability for Professionals & Business Owners

Many entrepreneurs operate their businesses as sole proprietors rather than through a legal entity, such as a Corporation or a Limited Liability Company. Whether their business is home-based or in the Fortune 500, these business owners are attracted by the informality of sole proprietorship. They also do not want to incur legal fees to create and maintain a legal entity. However, in addition to other advantages, conducting business through a legal entity may offer substantial risk management benefits.

While lawsuits brought against a sole proprietorship are really lawsuits against the owner’s personal assets, lawsuits against a properly created and maintained legal entity are really lawsuits against the entity’s assets. Nevertheless, the selection of an appropriate legal entity is critical for managing your risk.

Transferring Risk with Insurance

When was the last time you reviewed the details of your liability insurance program with your insurance professionals? Are your policies current? Are the coverage limits adequate and are the deductibles reasonable? Have you scrutinized the policies for loopholes? Remember: the fundamental philosophy of any insurance coverage is to pay a premium you can afford to transfer a risk you cannot afford. During your asset protection planning, take time to understand both the risks you have retained and the risks you have transferred.

If you have questions about how to protect your assets, schedule a call with us today. Click here.

A Team That Truly Cares

Our attorneys take pride in helping you make the right decisions for your family and your future.

Schedule time to Talk with our Team Today

Client Success Stories

The staff is always extremely pleasant and helpful. Rose Kennedy does a fabulous job of taking the time to explain everything, more than once if need be, and willing to answer any questions.
Lisa Care
Lisa Care
September 1, 2023.
They were very kind and helpful to my brother and me. They took the time to review our situation and offered us options. Highly recommend their services!!! Thanks. 😎
Kurt Manderbach
Kurt Manderbach
September 1, 2023.
This lawfirm is excellent. They are so knowledgeable and experienced in estate planning. Sarah at the front desk is responsive, welcoming and helpful. Rose Kennedy is a top notch attorney with a strong attention to detail, very knowledgeable in her field, great at presenting information in an easy to understand manner and very compassionate. We highly recommend Curran.
Leo and Lily
Leo and Lily
August 22, 2023.
When my father passed away in March 2022, I had never lost an immediate family member, and I was unprepared for the deluge of paperwork that followed. I also was not prepared for the way that grief would make simple things extra difficult. Luckily, my dad had set up a trust with Sean Curran’s guidance in 2016. It not only protected his assets, but it allowed us to work with Rose Kennedy and Angela Young for the estate administration. I truly do not know what we would have done without the kindness and guidance of Rose and Angela. I will never forget talking with Rose from the bathroom of my dad’s hospice room. It was far past office hours, but she was calmly determined to help me understand what steps I needed to take next. She even texted me after the call with detailed instructions in case I was unable to remember because of my emotional state. My gratitude for her compassion and patience continued to grow throughout the following year as she and Angela continuously went above and beyond to help us with every challenge that arose as we sold our dad’s house, filed inheritance taxes, and encountered numerous other tasks that I never could have figured out without their step-by-step guidance. I will always have a special place in my heart for the calmness that Rose and Angela brought me throughout the overwhelming and emotional process of losing a parent. Every person I’ve encountered at Curran Estate and Elder Law has been professional, helpful, and kind. I can’t imagine going through this process without their support and wisdom. Thank you!
Cindi Delinsky
Cindi Delinsky
July 29, 2023.
Curran Estate & Elder Law handled my fathers estate for me. They were incredibly helpful and answered all of my questions. I did very little, everything was completed by them. I would strongly suggest if your looking for an Attorney to handle your parents affairs, give Curran Estate & Elder Law a call!
KIM STRICKER
KIM STRICKER
July 26, 2023.
I would highly recommend Curran Estate Elder Care. They guided and helped with our estate planning, protection of assets, writing of our wills, power of attorney documentation and also care management for my spouse. They offer a great support system. Great people to work with.
Lil Myers
Lil Myers
July 20, 2023.
They are very efficient at helping their clients get the best and affordable help for families that need help. I would recommend them all around, especially for the elderly that cannot help themselves. they help me get poa of my mom when no one else would help. Hospital would say that she is not capable of having a POA at the time on hospice. Well, they wrong because my mother understood and signed forms thank you so very much Joyce and Tiffani
Tiffani Grendell
Tiffani Grendell
July 18, 2023.
Quite simply the best Elder Law in Berks. Professional, ethical and kind from start to finish. We had gotten our Will's and PoA's done with Curran a couple years ago, then when my father's health took a down turn, they were the obvious choice for managing the transition of his care, and then eventually with handling the administration of his will , probate and the dozens of other details that no one tells you about. I couldn't imagine having to do all of that on my own. Big thanks to the Rose, Susan, Angela and the whole team at Curran.
Adam Wentling
Adam Wentling
July 18, 2023.
As executor of estate, Curran has guided me step-by-step through the process in a professional and efficient manner. Their approach is friendly as they have patiently answered all my questions with clear explanations which make my duties simple and easy to carry out.
David & Alison Zezenski
David & Alison Zezenski
June 16, 2023.
My mother and I met with Rose Kennedy at Curran Estate & Elder Law, PLLC. Rose and her team were wonderful! Sarah greeted us promptly and escorted us to the conference room. She was very gracious. Rose demonstrated compassion, kindness, and understanding. She explained the documents clearly and answered all our questions. I highly recommend Rose and the team who responded quickly. They acted with professionalism and compassion. They have a heart. I had contacted other estate and elder firms in Berks County, and they did not even respond. Call Curran they will respond and help you.
Diana Vavreck
Diana Vavreck
May 25, 2023.
Curran Estate & Elder Law, PLLC

1212 Liggett Ave.
Reading, PA 19611

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