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Chisholm Law Group, LLC

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Chisholm Law Group, LLC
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Asset Protection Planning Lawyer In Bethesda, Maryland

Last updated on April 13, 2026

Asset protection planning is an important step for individuals and families who want to protect what they have built. From business owners to professionals and retirees, many people face risks that could threaten their financial stability. Because Maryland law has specific rules that affect how assets can be protected, working with an experienced asset protection attorney is essential.

Based in Bethesda, Maryland, Chisholm Law Group, LLC, has taken a hands-on approach to asset protection planning since 1986. Our firm works with clients across the globe, giving us a broad, international perspective that strengthens every strategy we build.

Key Maryland Laws That Impact Asset Protection

Asset protection planning involves using legal tools to reduce exposure to financial risk. These strategies must follow Maryland law and should be implemented before any legal issues arise. Once a claim is pending or expected, options can become limited due to state regulations.

Below are some of the most important legal considerations our attorneys review when working with clients in Bethesda, Maryland:

  • Maryland homestead exemption: This law allows homeowners to protect a portion of their home equity. However, the protection is limited and may not fully cover higher-value properties, which is why additional planning is necessary.
  • No domestic asset protection trusts in Maryland: Maryland does not allow domestic asset protection trusts. Because of this, a lawyer may recommend alternative structures, including out-of-state options or other legally sound strategies.
  • Fraudulent transfer laws (MD Code, Commercial Law §15-201 et seq.): These laws prevent individuals from transferring assets to avoid creditors after a claim arises. Timing is critical, and a court may reverse actions taken too late.
  • Tenancy by the entirety protections: Married couples in Bethesda, Maryland, can hold property jointly in a way that protects it from claims against only one spouse.
  • Retirement account protections: Many retirement accounts are protected under both Maryland and federal law, making them a valuable part of an asset protection plan.
  • Timing and lookback periods: Certain strategies, especially those tied to Medicaid planning, are subject to lookback periods. Transfers made within these periods may lead to penalties or delays in eligibility.

Our lawyers use these rules to guide clients toward strategies that are both effective and compliant.

Legal Tools For Protecting Assets

There are several tools available for asset protection planning in Bethesda, Maryland. Each serves a specific purpose and should be selected based on your situation.

  • Limited Liability Companies (LLCs): These help separate personal assets from business liabilities.
  • Family Limited Partnerships (FLPs): These allow families to manage and protect shared assets while maintaining control within the family structure.
  • Irrevocable trusts: These can remove assets from your ownership, which may help protect them from creditors and play a role in Medicaid planning.
  • Tenancy by the entirety: Married couples in Maryland can hold property in a way that protects it from individual creditor claims.
  • Retirement accounts: Many retirement accounts receive protection under Maryland and federal law, making them a key part of asset protection planning.
  • Insurance strategies: Umbrella policies and professional liability coverage can provide an added layer of protection, especially for doctors and business owners.

Our attorneys in Bethesda, Maryland, guide clients through the process to help ensure everything is structured correctly and aligned with their goals.

The Importance Of Timing In Asset Protection Planning

Timing is one of the most important factors in asset protection planning. Maryland law includes lookback periods that can impact certain strategies, especially those related to Medicaid planning.

For example, transferring assets into an irrevocable trust too close to applying for Medicaid may result in penalties. Similarly, moving assets after a creditor claim arises may be challenged under fraudulent transfer laws.

Who Should Consider Asset Protection Planning?

Asset protection planning is not limited to high net worth individuals. Many people in Bethesda, Maryland, can benefit from working with an attorney to protect what they have.

Professionals such as doctors, business owners and real estate investors often face higher liability risks. At the same time, families planning for long-term care costs may also need structured strategies to preserve their assets.

Build A Stronger Financial Future Today

At Chisholm Law Group, LLC, we work closely with individuals and families in Bethesda, Maryland, to develop strategies that address real risks and long-term goals. Call 844-991-1392 to schedule a consultation or complete our intake form to start building a plan that protects what matters most.