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One of the greatest financial investments you can make in protecting your hard-earned wealth is an Ellicott City asset protection trusts lawyer. Asset protection trusts can help you secure your property, savings, and investments from creditors and legal claims. At Liberty Legacy Law Group, we work with clients to create effective trust structures that can provide peace of mind, comply with Maryland and federal law, and help preserve wealth for future generations.
An asset protection trust is a type of irrevocable trust. An irrevocable trust is created by means of a trust agreement that transfers certain assets into a trust for the benefit of the trust beneficiaries. These transferred assets are used for the benefit of the trust beneficiaries, but they are no longer accessible to your creditors because they are not part of your estate.
Maryland does have asset protection trust laws. Asset protection trusts are generally useful for business owners, professionals, and others concerned about future financial risks to their assets. Real estate, investments, and personal property can be protected with the proper trust structure.
At Liberty Legacy Law Group, we’re not just planning for the future we’re honoring the lives, stories, and values that matter most.
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19% of Americans believe they will die and leave no valuable assets behind, and more than 50% believe they will leave $50,000 or less of total value to their beneficiaries. 55% of Americans have no estate planning documents whatsoever.
One of the primary benefits of an asset protection trust is that they are a legal mechanism for taking your assets out of your personal ownership. This provides a buffer between your assets and any creditors who may be looking to make a claim against them. This is particularly useful in cases of litigation, business disputes, or divorce.
Asset protection trusts can also keep your affairs private since, unlike a will, trust documents are not a matter of public record. If you are a family business or simply have a family, it can also help ensure that the wealth you build will go to your heirs without being bogged down by probate fees and procedures.
Forming an asset protection trust is complicated by several interwoven rules that cross Maryland law and federal law. An attorney who is knowledgeable in this area of the law will know how to form a trust that is compliant with Maryland and federal law, and also make sure it is funded and established as you want.
An incorrectly formed trust can be challenged or overturned by a court. Our legal team can walk clients through the entire process from planning to funding the trust and help clients avoid potential legal pitfalls.
As an Ellicott City Asset Protection Trusts Attorney, we can tailor Maryland’s trust and estate laws to your specific situation. Whether you are a resident of Ellicott City or own property throughout Maryland, having an attorney who is familiar with the local courts, such as the Howard County Circuit Court, means you receive skilled and strategically located representation.
If you have an asset protection trust dispute, Liberty Legacy Law Group can help. Contact us today for more information. Hire an asset protection trusts lawyer for your asset needs.
At Liberty Legacy Law Group, we’re not just planning for the future—we’re
honoring the lives, stories, and values that matter most.