We are often asked about the moral or ethical issues associated with long-term care planning in the context of asset protection. To address these issues, consider the story of the Free Bridge as told by US Supreme Court Justice Louis Brandeis:
“I live in Alexandria, Virginia. Near the Supreme Court chambers is a toll bridge across the Potomac. When in a rush, I pay the dollar toll and get home early. However, I usually drive outside the downtown section of the city and cross the Potomac on a free bridge.
This bridge was placed outside the downtown Washington, DC area to serve a useful social service, getting drivers to drive the extra mile and help alleviate congestion during the rush hour.
If I went over the toll bridge and through the barrier without paying the toll, I would be committing tax evasion.
If, however, I drive the extra mile and drive outside the city of Washington to the free bridge, I am using a legitimate, logical and suitable method of tax avoidance, and am performing a useful social service by doing so.
For my tax evasion, I should be punished. For my tax avoidance, I should be commended.
The tragedy of life today is that so few people know that the free bridge even exists.”
Asset Protection Planning is the Free Bridge. Elder law attorneys provide the map to get you across that bridge. We’ve dedicated our careers to creating a roadmap for our clients that will guide them as they traverse the rocky terrain along their life’s journey. The laws and regulations that govern our public benefits system can be confusing, and we are here to help you find your way. So, whether you choose to pay the toll or go the extra mile to the free bridge, let us provide the roadmap to your destination. Click here and give us a little information and we'll be in touch!