Asset Protection Services for Fort Worth

Understanding Asset Protection

Asset protection safeguards your valuable possessions from creditors, lawsuits, and unforeseen events. Strategies include:

1. Trusts: Separate legal ownership from beneficial enjoyment.
2. Business Entities: LLCs and corporations protect personal assets from business liabilities.
3. Strategic Transfers: Transferring assets to family or trusted individuals can remove them from your name.

Importance of an Asset Protection Attorney in Fort Worth

An experienced asset protection attorney can:

1. Assess and Analyze Assets: Review your assets to identify potential threats.
2. Tailor Strategies: Develop customized plans based on your circumstances and goals.
3. Handle Legal Documentation: Draft legal documents, ensuring compliance with Fort Worth laws.
4. Monitor and Update: Provide ongoing monitoring and updates to adapt your plan to changing circumstances.

Types of Asset Protection Trusts

Asset Protection Trust

* Irrevocable trust safeguarding assets for the settlor’s benefit.

* Creditors cannot access assets due to relinquished ownership.

Medicaid Asset Protection Trust (MAPT)

* Specialized irrevocable trust protecting assets from Medicaid estate recovery.

* Allows asset transfer and starts the five-year lookback period for Medicaid eligibility.

Note: The settlor cannot be both the trustee and beneficiary of a MAPT.

Asset Protection for Your Financial Future

Protecting your assets is essential for financial security. Consult with a skilled asset protection attorney in Fort Worth to safeguard your valuable possessions.