When you work hard to accrue wealth, you want to do everything in your power to protect your interests from a wide variety of threats. To best protect your assets, you will need to carefully plan ahead with an experienced estate planning attorney.
Why You Need To Plan For Asset Protection
Nearly everyone has had an insurance policy in their lifetime. Insurance policies are the best way to help protect assets like your house, car, and business; but, if your insurance policy doesn’t have enough coverage, you could be left at an extreme risk. There are many circumstances that even the best businessmen and women fail to plan for, which could jeopardize the wealth they’ve worked hard to obtain. Only an experienced asset protection attorney will be able to ensure your wealth is protected from every conceivable threat.
Assets need to be protected from any potential creditors. If you want assets like property or life insurance payouts to remain out of the reach of creditors or potential creditors, you need to take steps to ensure these assets seamlessly transition directly to your loved ones or next of kin. While some other types of assets may not be legally protected from creditors, with the help of a lawyer, you can transfer these assets to protect them from future claims by creditors.
If you own your business, there are many legal implications regarding the type of entity you established. Certain types of entities can actually put the business owner’s personal assets at risk in the event of a lawsuit or other proceedings. Keeping business and personal assets separate can protect you from losing one type of asset because of the other.
Houston Asset Planning Lawyer
Plan to protect your assets before there is a problem. Business and personal interests often intersect, which means not only making the best choices in forming, operating, and buying or selling a business, but also making those choices fit neatly within your personal life interests.
Hensley Krueger LLP can create a tailored asset protection plan for yourself, your family, or your business to insulate your assets from the claims of creditors without concealment. We will develop a comprehensive plan based on client needs and circumstances by taking a global view of your assets and circumstances. This helps avoid future disputes between parties. Don’t wait until it’s too late – trust us to protect your assets today.