Austin Asset Protection Attorney
Assistance from an Austin Estate Planning Lawyer
If you've built your business from the ground up, you know the hard work that has gone into making it what it is today. The assets associated with your business are valuable, but oftentimes, they are not treated as such.
Failing to protect your assets can result in everything you've worked for being taken from you by creditors. Our firm is experienced in asset protection and can give you the counsel you need to secure your business and its resources. Regardless of your circumstances, it is important to take action today by contacting an Austin estate planning attorney!
Exempt and Non-Exempt Assets
Texas law has two classifications of assets – those that are exempt and those that are non-exempt. Exempt assets are naturally protected from creditors and essentially cannot be touched. Non-exempt assets, however, are on display and available for the taking without the proper protecting.
Exempt assets include the following:
- Your homestead
- Retirement accounts
- Life insurance
- A specific amount of personal property per family
Non-exempt assets include everything else, such as:
- Bank and brokerage accounts
- Non-homestead real estate owned in your name
- Certain trust accounts
In order to protect your non-exempt assets, there are certain legal measures that must be taken. This involves using your insurance to transfer your risk and minimizing the liability you face.
Protect Your Assets Before it's Too Late
You never know what the future may hold and sometimes waiting to protect your assets can result in serious financial complications. With the help of a qualified asset protection attorney, you can begin to examine your liability insurance program and ensure it has everything you need. We understand that your finances take tact and discretion. In our capable hands, you can rest assured that the future of your business is secure, no matter what.
Start working with an Austin estate planning attorney by preparing our estate plan online and calling The Jones Law Firm PC as soon as possible.