If you don’t properly protect your assets, they can be lost in a lawsuit. With the help of one of our probate lawyers at the Voeller Law Firm, you can ensure that your assets are always protected. We can discuss the types of legal arrangements that are available and help you execute whichever you choose.
What Are Asset Protection Trusts?
Asset protection trusts allow you to transfer a portion of your assets into a trust that an independent trustee runs. These assets are out of the reach of creditors and you can still receive periodic distributions. These trusts can also shield the assets for your children or other beneficiaries. Asset protection trusts must be irrevocable to protect your assets from lawsuits. Additionally, the trustee must be someone that is in the state of Texas or a bank or trust company licensed in Texas. The trust documents and administrator must also be in Texas.
Call to Schedule a Consultation with a Texas Probate Lawyer Today
If you’re concerned about creditors getting to your assets, it’s time to consider asset protection trusts. At the Voeller Law Firm, we understand the different types of trusts and can answer your questions about each of them. To schedule a free legal consultation with a probate lawyer and get the process started as soon as possible, call us at (210) 651-3851 today.