Keep your property safe with savvy asset protection and thoughtful estate planning. Stop worrying if everything that you’ve worked so hard for is under threat. As an experienced Conroe, TX, domestic asset protection trust lawyer, we can help safeguard your money, property, and valuables. Our legal team has comprehensive knowledge of Texas and federal laws governing trusts and other legacy planning structures, and this, plus our decades of combined experience, helps us develop a personalized, comprehensive strategy to preserve your real estate, investment accounts, cryptocurrency, and other assets.
You never know what the future holds, and if you’re like many people, knowing that your money and property are protected can give you peace of mind. If you have family or dependents that you want to protect, a domestic asset protection trust can protect your assets from creditors and seizure and ensure that your heirs inherit as much as possible. At Stuart Green Law, PLLC, we develop asset protection strategies structured for your current financial situation and goals. Contact our firm today for a personalized consultation.
Protect Everything You’ve Worked For With A Conroe Domestic Asset Protection Trust Lawyer
A Domestic Asset Protection Trust (DAPT) provides powerful protection for personal assets, shielding them from legal action or creditors by excluding them from your estate. In essence, if a creditor has a claim against your estate, the assets in your DAPT will not be available for them to claim. Or, if you face legal action, like a civil suit, the assets in the trust will not be available for seizure.
DAPTs are irrevocable trusts, which means that once they are established, you, as the grantor, cannot make changes to the trust once it’s created. A DAPT can be a vital part of your estate plan and protect a significant portion of your assets. There are some aspects that set DAPTs apart from other types of trusts:
- They can be self-settled, which means that the grantor can also be the trust’s beneficiary
- The grantor, as the beneficiary, has a level of control over how the assets are used
- It can be created in a state that is not your primary residence
We take a personalized, holistic to estate planning and develop an asset protection strategy that anticipates your needs after retirement and ensures that your loved ones will be taken care of after you pass away.
Is a Domestic Asset Protection Trust Right For Me?
A standard trust may not provide the level of protection of your assets that you need or permit you the control over them that you want. A DAPT is one of few legal vehicles that can do both, but only if it’s set up by an experienced estate planning lawyer who understands the proper way to set up a DAPT in Texas.
There are multiple advantages to a DAPT:
- Assets are shielded from creditors and court actions, as they legally belong to the trust, not the grantor
- The grantor retains control over the assets in the trust through right-of-use, unlike other forms of irrevocable trusts
- It’s usually more cost-effective to set up a DAPT than other types of trusts
- The window for challenging asset transfer to the DAPT is shorter in Texas than it is for other types of trusts
- A plaintiff demanding all, or a portion of, the assets in the DAPT has a higher burden of proof (they must provide clear and convincing evidence that they have a right to the trust’s assets)
- You can place a wide range of assets in the DAPT, including your residence, intellectual property, cash, investment portfolios, LLCs, and life insurance policies
If you believe a DAPT is right for you, talk to the attorneys at Stuart Green Law, PLLC. We offer a personalized consultation with a Conroe domestic asset protection trust lawyer, so please call us today to get started.