Asset Protection Lawyer In Texas

Last updated on September 27, 2024

When engaging in estate planning, adding tools that protect your assets helps to ensure your wealth is preserved and passed on to future generations. Asset protection involves safeguarding your estate from lawsuits, creditors and financial setbacks. Working with an estate planning attorney can help you develop a robust plan that is tailored to your unique financial and family circumstances.

Aldrich Law Firm, PLLC, provides clients with personalized and innovative legal solutions in San Antonio, Bexar County and throughout Texas. With more than 25 years of combined experience, we handle estate planning and asset protection with attention to detail, helping our clients to feel confident about their current and future estate security. As probate lawyers, we can provide trusted advice and representation in asset protection matters.

Why Asset Protection Is Important

Asset protection aims to shield your wealth from unforeseen events and liabilities. Without proper protection, your assets could be exposed to claims from creditors, lawsuits or business-related risks.

Some common asset protection strategies include:

• Trusts: By transferring ownership to an irrevocable trust, assets can be shielded from creditors and legal claims.
• Business entities: For business owners in San Antonio, structuring assets under a limited liability company (LLC) or corporation can create a legal barrier between personal and business liabilities, protecting personal wealth.
• Homestead protection: Texas law offers one of the most solid homestead protections in the country. It protects a huge portion of your home’s value from creditors.
• Retirement accounts: Certain retirement accounts, like IRAs and 401(k)s, have strong legal protections under the law, offering another avenue to safeguard wealth for the future.

Asset protection is not a one-size-fits-all strategy – what works for some may not work for others. Guidance from an experienced estate planning attorney can help to ensure your plan is comprehensive, adequately shields your assets and complies with state law.

Consult With A Texas Asset Protection Attorney

Adding customized asset protection strategies to your Texas estate plan can safeguard your wealth and valuable assets. Call us in San Antonio at CALL or fill out our online contact form to speak with an estate planning attorney.