Asset Protection Attorneys in El Paso, TX & Southern New Mexico

Protecting your assets is a critical component of long-term financial and estate planning. At Townsend Allala, Coulter & Kludt, PLLC, we specialize in helping clients in El Paso, TX, and Southern New Mexico safeguard their assets from potential threats such as Medicaid Estate Recovery, creditors, and unnecessary taxes. Whether you need assistance with Medicaid planning or protecting your family’s financial future, our experienced attorneys are here to guide you through the asset protection process. Ready to get started? Contact us online or give us a call at 915-533-0007 today to schedule your consultation!

Why Asset Protection Is Essential

Asset protection is essential for individuals who want to ensure their financial security, both during their lifetime and after passing. Without proper planning, your assets may be at risk from creditors, lawsuits, and estate recovery programs like the Medicaid Estate Recovery Program (MERP). In Texas, MERP can attempt to recover the cost of Medicaid benefits provided to a deceased individual by claiming a portion of their estate. However, with the right legal strategy, you can protect your assets from being affected by these claims.

How We Help Protect Your Assets

At Townsend Allala, Coulter & Kludt, PLLC, we offer comprehensive asset protection services to individuals in El Paso, TX, and across Southern New Mexico. Our approach includes:

• Medicaid Estate Recovery Protection: We help clients avoid losing their homes to the Medicaid Estate Recovery Program (MERP). Our attorneys can identify exemptions, waivers, and legal strategies that prevent Medicaid from making claims on your estate.
• Homestead Protection: In Texas, your homestead is a valuable asset that should be protected. We ensure that you do not have to sell your home to qualify for Medicaid.
• Trusts & Estate Planning: We help you create legal entities such as trusts that protect your assets from creditors and preserve your wealth for future generations.
• Long-Term Care Planning: We work with you to develop a plan that balances asset protection with eligibility for Medicaid and other long-term care programs.

Why Choose Townsend Allala, Coulter & Kludt, PLLC?

With years of experience in elder law and estate planning, Townsend Allala, Coulter & Kludt, PLLC is a trusted resource for families in El Paso, TX, and Southern New Mexico. Our team has a proven track record of protecting our clients’ assets from MERP and other potential risks. We pride ourselves on our personalized approach, working closely with each client to understand their financial goals and develop a tailored strategy for asset protection.

Common Asset Protection Tools

Some of the most effective tools we use for asset protection include:

• Irrevocable Trusts: These trusts can protect assets from creditors and estate recovery programs by legally transferring ownership of the assets.
• Medicaid Planning: Strategic Medicaid planning allows you to qualify for Medicaid benefits without having to sacrifice your assets, such as your home or savings.
• Family Limited Partnerships (FLPs): FLPs are useful for protecting family-owned businesses and investments from creditors while retaining control over the assets.
• Exemptions & Waivers: We identify exemptions and waivers under Texas and New Mexico law to shield your estate from Medicaid recovery.

Frequently Asked Questions About Asset Protection in El Paso, TX

What is Medicaid Estate Recovery (MERP), and how does it affect my estate?

In Texas, the Medicaid Estate Recovery Program (MERP) can seek reimbursement from the estates of deceased individuals who received Medicaid benefits. However, there are exemptions and strategies that can help protect your estate from these claims. At TACK, we can help you navigate these laws and protect your assets.

Can I protect my home from Medicaid Estate Recovery in Texas?

Yes, under Texas law, it is possible to protect your home from Medicaid Estate Recovery. Our experienced elder law attorneys can help you apply for exemptions, identify legal strategies, and use trusts to ensure that your home is safe from estate recovery.

What steps should I take to start protecting my assets?

The first step to protecting your assets is to consult with an experienced asset protection attorney. At TACK, we will review your financial situation, explain your options, and create a customized plan to safeguard your assets.

Contact Our El Paso Asset Protection Attorneys Today

If you’re concerned about protecting your assets from creditors, lawsuits, or Medicaid Estate Recovery, Contact Townsend Allala, Coulter & Kludt, PLLC online or give us a call at 915-533-0007 today. Our experienced asset protection attorneys serve clients in El Paso, TX, and the surrounding areas, including Southern New Mexico. We offer personalized legal solutions to help you safeguard your financial future and protect your estate for your loved ones.