Texas Asset Protection Attorneys

Strategies for securing your wealth and legacy

Life is full of surprises, and unfortunately, some of those surprises—like lawsuits, creditors, and unexpected tax burdens—can drain your family’s finances and threaten your assets.

Smart strategies for protecting your assets can make all the difference. At the law firm of Shann M. Chaudhry Esq., Attorney at Law PLLC, our Texas asset protection attorneys can help you protect what you’ve built.

Our team builds lifelong relationships with individuals and families as we help them find the right legal strategies for protecting their assets against the unpredictability of life.

If you’re concerned about protecting your assets, contact us. Our Texas estate planning law firm can walk you through the process.

What Is Asset Protection?

Throughout your life, you’ve acquired assets, whether real property, businesses, inherited wealth, or savings and investments. These assets are yours, but they can be subject to claims from creditors or lawsuits, taxes, and other losses.

However, you can reduce the risk of losing these assets through asset protection strategies. Asset protection strategies use trusts and other estate planning tools as safeguards against outside claims.

You’ve worked hard to build your asset portfolio and you deserve a strategy that reflects your needs. Our team of Texas asset protection attorneys bring years of experience working with business owners, individuals, and families.

Through our client-centered, service-first approach, we’ll work with you to create an asset protection plan that is tailor-made for your particular situation and finances.

Why Asset Protection Is Important

When you put an asset protection strategy in place, your hard work won’t be wiped out by unexpected events or a turn of bad luck. Asset protection builds a legal wall between your creditor’s claims and your personal and business assets.

Asset protection is especially important for business owners, who are often more likely to be sued.

Planning ahead can even change how unforeseen problems affect you. When a crisis arises, having plans and protections in place can minimize stress for you and your family.

At SMC ESQ PLLC, we’re committed to prompt and clear communication. We’ll always return your calls and answer your questions in a timely manner.

Why Asset Protection Is Important

When you put an asset protection strategy in place, your hard work won’t be wiped out by unexpected events or a turn of bad luck. Asset protection builds a legal wall between your creditor’s claims and your personal and business assets.

Asset protection is especially important for business owners, who are often more likely to be sued.

Planning ahead can even change how unforeseen problems affect you. When a crisis arises, having plans and protections in place can minimize stress for you and your family.

At SMC ESQ PLLC, we’re committed to prompt and clear communication. We’ll always return your calls and answer your questions in a timely manner.

Our approach

At the law firm of Shann M. Chaudhry Esq., Attorney at Law PLLC, our Texas asset protection attorneys make sure you’re informed and comfortable with every step of the process.

Our founding values of authenticity, empathy, gratitude, education, and service lead our approach. In all our conversations, we start by listening first so we know what’s on your mind. We then build individualized strategies to address your concerns.

How an Elder Law Attorney Can Help with Asset Protection

Asset protection is an important part of staying financially strong for our senior clients considering costs like long-term care.

The sooner you start planning, the more assets you can protect. This is especially true when an older couple wants to make sure one of them can receive the long-term care they need even if the other plans to continue living independently.

When you put assets into trusts now, you and your family can be confident that everyone will be financially protected even if you’re incapacitated. It can even help strong earners who wouldn’t otherwise be eligible qualify for Medicaid coverage of their long-term care.

Our Asset Protection Strategies

Our Texas asset protection attorneys can work with you to create and implement individualized strategies that address your goals and needs.

Anonymous entities

Anonymous entities, such as anonymous trusts or limited liability companies (LLCs), let you hide ownership information of LLCs and other assets from the general public.

Not only does putting real estate into an LLC offer greater legal protection than owning it personally, but it also prevents outside parties from finding the full extent of your assets and going after all of them—even if they have been broken up into separate companies.

Anonymous entities

Anonymous entities, such as anonymous trusts or limited liability companies (LLCs), let you hide ownership information of LLCs and other assets from the general public.

Not only does putting real estate into an LLC offer greater legal protection than owning it personally, but it also prevents outside parties from finding the full extent of your assets and going after all of them—even if they have been broken up into separate companies.

Domestic asset protection trust

Self-settled trusts, or trusts where you’re the beneficiary, usually don’t provide strong asset protection, such as protection against creditors or a spouse during divorce. However, a handful of states provide an exception with domestic asset protection trusts (DAPTs).

DAPTs are self-settled trusts that provide solid asset protection.

Texas law doesn’t have a DAPT statute, but you don’t need to reside in the state when the trust is set up. We set up DAPTs based on other jurisdictions regularly.

Offshore asset protection trust

Offshore asset protection trusts, also known as foreign asset protection trusts, hold assets outside the US. They’re typically established in tax havens that don’t enforce American legal judgments, such as the British Virgin Islands.

If a creditor or other entity wants to access the funds in an offshore asset protection trust, they’ll need to proceed through a foreign legal system—which can be expensive enough to deter some lawsuits.

At Shann M. Chaudhry, Esq., we do not use this strategy in violation of U.S. law or IRS rules and regulations. We will only set up offshore asset protection trusts for we set them up for legitimate purposes.

Offshore asset protection trust

Offshore asset protection trusts, also known as foreign asset protection trusts, hold assets outside the US. They’re typically established in tax havens that don’t enforce American legal judgments, such as the British Virgin Islands.

If a creditor or other entity wants to access the funds in an offshore asset protection trust, they’ll need to proceed through a foreign legal system—which can be expensive enough to deter some lawsuits.

At Shann M. Chaudhry, Esq., we do not use this strategy in violation of U.S. law or IRS rules and regulations. We will only set up offshore asset protection trusts for we set them up for legitimate purposes.

Offshore entities

Offshore entities are companies or LLCs that are registered in a country other than the one where investors live or their primary offices and operations are located. Countries where you can register tend to have favorable tax rates.

Offshore entities are an effective tool for minimizing your business’s tax burden.

Contact Our Trusted San Antonio Asset Protection Attorneys

At the law firm of Shann M. Chaudhry Esq., Attorney at Law PLLC, our attorneys put service first. We’ll listen to your goals, concerns, and situation and create a customized plan to protect your assets.

We commit to clear and prompt communication, and we take pride in our ability to find creative, proactive solutions.

If you’re interested in protecting your assets from life’s surprises, contact us. Our experienced Texas asset protection attorneys can guide you through the process.

Texas Asset Protection FAQs

What assets can be protected in Texas?

Depending on the types of trusts you use, it’s possible to protect many assets in Texas, including:

  • Real estate
  • Businesses
  • Other assets
  • Finances

A Texas asset protection attorney can work with you to create a customized plan for your situation and concerns.

Who needs asset protection?

Life is unpredictable. Business owners, individuals with real estate holdings, and other people with assets can too easily lose them in a lawsuit or to creditors. Additionally, tax burden can chip away at what you have.

If you have the financial ability to protect your assets, it’s a smart strategy to do so as soon as possible.

What does an asset protection lawyer do?

An asset protection lawyer helps individuals, families, and business owners create legal protections for their assets including:

  • Businesses, such as family limited partnerships
  • Real estate
  • Personal property
  • Other assets

At SMC ESQ PLLC, our Texas asset protection lawyers can help you create and implement a plan to protect what you’ve built from the unknowns of the future.