When you take the time to create a trust to hold your money and safeguard your assets, keeping them out of the hands of creditors is important. However, not all trusts can protect your assets from creditors. At the Voeller Law Firm, one of our probate lawyers can ensure that you choose one that works best for your situation.
About Revocable Living Trusts
A lawyer may recommend a revocable living trust if your goal is to save your family the expense and stress of probate after your death. Property that you leave to others through a living trust doesn’t require a probate court’s approval to be passed on. While this is a benefit to your loved ones, this type of living trust does not protect your assets from those that may have legal claims against you. This is because this trust makes you the trustee.
Trusts That Protect Assets
If you put money in an irrevocable trust – one that you don’t control and can’t revoke – then the money isn’t considered yours anymore. As such, it isn’t available to creditors. If you’re concerned about creditors and lawsuits after your death, an irrevocable trust is the best type of estate planning arrangement for you and your family.
Call to Schedule a Consultation with a Texas Probate Lawyer Today
If you’re concerned about creditors getting to your assets after your death, it’s important to speak to one of our professional probate lawyers. At the Voeller Law Firm, we are knowledgeable in all types of trusts and can answer any questions you may have about estate planning. To schedule a free legal consultation with a probate lawyer at the Voeller Law Firm and to get the process started as soon as possible, call 210-985-2741 today.