Franklin Asset Protection Lawyer

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Asset Protection Attorney In Franklin, TN

Every person across Tennessee can face threats to their financial security without realizing it. The proactive actions you take now can play a crucial role in guarding your property from fines and legal action. However, it can be confusing to know where to begin. A skilled Franklin asset protection lawyer can help you build a plan that shields your property from creditors, unnecessary taxes, litigation, and other potential risks. It is essential to understand the Tennessee probate process to see how asset protection can also streamline the eventual transfer of your estate.

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About Us

Emmack Probate and Estate Law Group has years of experience assisting the people of Franklin, Nashville, and communities throughout Middle Tennessee with their asset protection cases. Our founder, Shanone Emmack, knows that no two cases are the same. She employs a client-focused, personalized approach to match the concerns unique to your situation. As a dedicated Franklin estate planning lawyer, she works to ensure your legacy is shielded from unforeseen legal threats.

What Is Asset Protection?

Asset protection refers to a wide range of arrangements you can make to secure your property from potential risks. This can be accomplished through trusts, protected accounts, and using state standards. Threats to your financial status can take many forms. A few common examples of possible losses include: 

  • Creditors and debt collectors
  • Bankruptcy
  • Civil claims filed against you
  • Business liabilities
  • Divorces
  • Certain taxes and estate expenses
  • Nursing home and other long-term care expenses

Many residents also ask why they would want to avoid probate in Tennessee, as the public nature of those proceedings can expose assets to further claims.

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Types of Asset Protection Cases We Represent

Asset protection cases in Tennessee vary widely to match each individual’s needs. The following are common arrangements Emmack Probate and Estate Law Group can assist with:

Trusts

Trusts can be a powerful tool for securing assets. The most common arrangement used for asset protection is an irrevocable trust. While difficult to modify, these trusts can offer stronger protection against creditors, claimants, and other parties.

Irrevocable trusts can take a few different forms. One common use is for Medicaid asset protection. In 2025, 71.4 million Americans were enrolled in Medicaid, including 17.5% of all Tennesseans. An irrevocable trust can provide supplemental aid for a special needs beneficiary while remaining eligible for Medicaid and other forms of government aid. Our trusted Franklin special needs trust lawyer can help you navigate the strict eligibility rules for these programs.

Another type of irrevocable trust used in asset protection is a self-settled trust. This arrangement allows the grantor to also be a beneficiary. Self-settled trusts must include a qualified trustee and a spendthrift provision that restrains transfers of assets to a beneficiary.

Business Structures

Structuring your business properly is essential to protect against any future litigation. Even business owners with no employees can benefit from establishing a company. Failure to do so can open your personal assets up to legal damages. Examples of business structures that can be helpful to your asset protection case include LLCs, corporations, and other separate legal entities. You should learn the best practices for family business estate planning in Tennessee to keep your personal and professional interests distinct.

Hire an Asset Protection Lawyer in Franklin, TN

While identifying financial risks may be straightforward, protecting yourself against them can be challenging without legal guidance. When you hire an asset protection lawyer, they can better help secure your financial future. Your Franklin asset protection attorney can assist with:

  • Assessing your risks. Many Middle Tennessee residents are unaware of the risks they face. We can review your situation, identify potential problem areas, and explain the existing threats to your financial security.
  • Discussing plans. Trusts, business structures, and other strategies are just a few examples of asset protection plans. Your lawyer can discuss all options that may pertain to you and can break down the pros and cons of different approaches.
  • Drafting legal documents. Safeguarding your finances requires careful wording in relevant documents. We can use our years of experience to draft relevant paperwork, avoid easy mistakes, and establish your asset protection plan.

FAQs

How Much Does an Asset Protection Lawyer Cost in Tennessee?

The cost of an asset protection lawyer in Tennessee depends on case complexity, the services required, and the firm’s billing structure. Creating a simple irrevocable trust typically costs less than forming a new corporation. Billing methods may include hourly rates, flat fees, or retainers. Your attorney can provide a cost estimate during your consultation.

What Assets Are Protected in a Civil Claim in Tennessee?

It’s important to know which assets are protected from settlement or court orders when targeted by a civil claim in Tennessee. Primary residents are shielded from litigation by up to $35,000 for single defendants and $52,500 for married couples. Retirement accounts, such as IRAs and 401(k)s, are also excluded from deliberation. Another key arrangement left out of civil cases is spendthrift and other asset protection trusts.

What Is a Major Disadvantage of an Asset Protection Trust in Tennessee?

Trusts in Tennessee can provide many benefits towards asset protection, but also have a few key disadvantages to consider. The most commonly used trust for protecting assets is an irrevocable trust. The biggest drawback is how difficult modification is after establishment. Another concern is potential income tax implications when initially established. You can see if you can put your house in a trust to avoid creditors in Tennessee to evaluate the trade-offs of this strategy. Discussing both advantages and disadvantages with your attorney is essential.

Why Is Asset Protection Necessary in Tennessee?

Asset protection in Tennessee can be necessary in guarding you from many risks. One common use is for nursing home residents. In 2025, the median cost for a private room in a nursing home was $10,965 per month. Trusts and other protective measures can prevent savings from being spent entirely on long-term care.

Another common need for asset protection is for business owners. Proper arrangements can prevent future plaintiffs from seeking payment pulled from your personal funds.

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Speak With a Franklin, TN Asset Protection Attorney Today

Emmack Probate and Estate Law Group can help you make the necessary arrangements to protect your assets, whether you are a resident at Maristone of Franklin or another nursing home, run a business in Downtown Franklin, or have any other financial concerns.

Contact us today to schedule your free initial consultation with a Franklin asset protection lawyer. In this meeting, we can discuss assets you want protected, explain your legal rights, and provide strategies that can give you some peace of mind for your future. You may also visit our main office in Franklin, located on Third Avenue North, a block northwest of Franklin Public Square and Franklin City Hall, and south of the Harpeth River.

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