Protect Your Assets
You’ve worked hard to acquire the assets you hold dear, so you understand how much easier it can be to lose wealth than to build it. That’s why the estate planning attorneys at Burrows Law Group design the strongest asset protection afforded by law into our estate plans. Asset protection involves using a combination of legal strategies to protect your wealth from various contingencies. That means greater security so you can freely enjoy your property in your lifetime and then pass it seamlessly to your heirs.
You may have already worked with a financial planner to diversify your holdings and adjust your investments according to your tolerance for risk. Those are important measures. Now, allow us to show you the added security that a well-designed asset protection plan can bring.
Basic Strategies for Asset Protection
Depending on your financial holdings, an asset protection plan could include the following components:
- Liability and creditor protection – Putting your assets beyond reach discourages lawsuits and facilitates favorable settlements.
- Divorce protection – A prenuptial or postnuptial agreement can settle any property disputes that might occur during a divorce.
- Tax planning – We advise clients on legal tools that reduce losses through taxation so they can keep and/or pass on more of their wealth.
- Medicaid planning – We help clients structure their assets so they can qualify for Medicaid assistance if they need to go to a nursing home—without having to liquidate major assets such as their home.
We work closely with our estate planning clients to educate them about how certain legal tools—including incorporation, trusts, insurance and offshoring—can best shield their assets. We help clients who have sole proprietorship businesses incorporate for added protection, and we build additional layers of protection within businesses that are already incorporated. We also review insurance policies to find gaps in coverage that leave our clients exposed and recommend coverage to reduce or eliminate exposure. Our goal is to provide you with the strongest level of asset protection allowed by Texas law.
Contact Burrows Law Group to Include Asset Protection in Your Estate Plan
At Burrows Law Group, our attorneys bolster estate plans with robust asset protection. We work closely with you to identify where you are vulnerable and implement strategies that secure your financial future and your legacy for your heirs.