Top Mount Olive, AL Asset Protection Lawyers Near You

Are You Considering Creating and Asset Protection Trust?

If you need to protect your assets from overreaching creditors, you may want to hire a Mount Olive attorney to set up an asset protection trust for you. Such trusts are not permitted in every state and to be valid the trust must meet specific guidelines. An attorney skilled in creating these trusts can advise you on their legality and prepare a trust to meet your needs.

Trusts Can Shield Assets From Creditors

An asset protection trust is a device that separates a person’s liability from certain assets from his or her benefit from the assets. The trust serves to shield assets from creditors or from valuation in a divorce case. Because the protection of the trust makes it more difficult for creditors to collect debts, only a few states allow asset protection trusts. A lawyer familiar with such trusts, their benefits and limitations, can set up the trust within the parameters of the law and ensure your assets are protected.

What sort of issues can I seek legal help with?

Specialized legal help is available for most legal issues. Each case is unique; seeking legal help is a smart first step toward understanding your legal situation and seeking the best path toward resolution for your case. An experienced lawyer understands the local laws surrounding your case and what your best legal options might be. More importantly, there are certain situations and circumstances – such as being charged with a crime – where you should always seek experienced legal help.

Top Questions to Ask a Lawyer

• What is the usual process to resolve my case? How long will it take to resolve this?
• What are likely outcomes of a case like mine? What should I expect?

An experienced lawyer should be able to communicate a basic “road map” on how to proceed. The lawyer should be able to walk you through the anticipated process, key considerations, and potential pitfalls to avoid. Once you’ve laid out the facts of your situation to the lawyer, he/she should be able to frame expectations and likely scenarios to help you understand your legal issue.

How much does it cost to hire an attorney?

In general, how much an attorney costs will often depend on these four factors: billing method and pricing structure, type of legal work performed, law firm prestige, and attorney experience. Depending on the legal issue you are facing, an attorney may bill you by the hour, settle on a flat fee, or enter into a contingency fee agreement. The type of legal work you need help with will also play a role in cost incurred.

Common legal terms explained

Affidavit – A sworn written statement made under oath. An affidavit is meant to be a supporting document to the court assisting in the verification of certain facts. An affidavit may or may not require notarization.