Top Somerville, 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 Somerville 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.

How to Prepare for Your Initial Consultation

Prepare for your consultation by writing down notes of your understanding of the case, jot down questions and concerns for the attorney, and gather your documents. Remember that you are trying to get a sense of whether the attorney has your trust and can help you address your legal issues. Questions should include how the attorney intends to resolve your issue, how many years he/she has been practicing law and specifically practicing in your area, as well as how many cases similar to yours the attorney has handled. It can also be helpful to broach the subject of fees so that you understand the likely cost and structure of your representation by a specific attorney and/or legal team.

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

Personal jurisdiction – Requirement that a particular court have authority over a person, in order to bind that person to the judgment of the court, based on minimum contacts. International Shoe Co v. Washington is a landmark Supreme Court case outlining the scope of a state court’s reach in personal jurisdiction.