Practice Areas

Asset Protection

An important concern in this age of often frivolous litigation is the protection of assets. Very few assets are actually exempt from the claims of potential creditors. The major categories of assets exempt in Texas are the primary residence, retirement benefits, life insurance, and annuities. Assets not protected include cash, stocks and bonds, bank accounts, certificates of deposit, second residences, ranches, real estate, oil and gas properties, and closely-held businesses.

Asset Protection Techniques

Techniques used to limit assets’ exposure to potential creditors include:

  • Using limited partnerships to own assets which are not protected
  • Having limited liability companies own single purpose assets
  • Utilizing a combination of grantor trusts, limited partnerships, and limited liability companies to protect assets
  • Creating a defensive wall to circumference the entire estate from potential claims and frivolous lawsuits
  • Creating trusts in jurisdictions with favorable laws
  • Utilizing insurance products to protect assets
  • Partition and marital planning

Our attorneys in Dallas and Frisco can work with you in creating an asset protection plan that best meets your needs.