Fortify Your Assets
Safeguarding what you’ve worked hard for matters. Protect your assets before problems arise by consulting with John G. Payne, an asset protection attorney in Tyler, TX, with over four decades of experience. He works hard to help you create strategies that shield your assets from future claims or liabilities.
Asset Protection Services Include
- Family Limited Partnerships
- Limited Liability Companies
- Corporations
- Separate Property Agreements
- Irrevocable Trusts
- Life Insurance and Annuities
- Retirement Accounts
- Exempt Assets
How Our Asset Protection Attorney in Tyler, TX, Helps
Family Limited Partnerships (FLPs): An asset protection lawyer can help set up FLPs, which let you transfer assets to family members while retaining control. This strategy shields assets from creditors by placing them within the partnership structure.
Limited Liability Companies (LLCs): Setting up an LLC with guidance from an asset protection lawyer separates your personal assets from business liabilities, safeguarding your wealth from business related risks.
Corporations: Incorporating your business provides limited liability protection, keeping your personal assets safe from business debts and legal claims. We help you choose the right type of corporation and ensure proper legal compliance.
Separate Property Agreements: An asset protection lawyer can draft agreements to protect assets acquired before or during marriage so that they are considered separate property in case of divorce or death.
Irrevocable Trusts: With the help of an asset protection lawyer, irrevocable trusts for others can protect assets from creditors because the trust owns the assets, not you or the beneficiaries personally.
Life Insurance and Annuities: We help advise you on structuring life insurance and annuity policies to maximize protection from creditors, legal claims and estate tax.
Retirement Accounts: Working with an asset protection lawyer ensures your retirement accounts are structured correctly to maintain legal protections from creditors, safeguarding your retirement savings.
Exempt Assets: Certain assets are exempt from creditors’ claims under state and federal law. We help you find and leverage these exemptions to protect your assets during financial challenges or legal proceedings.
Do You Need An Asset Protection Law Firm?
Figuring out if you need an asset protection attorney involves evaluating your financial situation, level of risk exposure, and future plans. Here are some signs that indicate you need an asset protection attorney:
High Net Worth: If you own valuable assets such as land, marketable securities and cash, an asset protection attorney can help shield them from potential risks.
Business Ownership: Running a business exposes you to various liabilities. An asset protection attorney can set up your business and personal assets to minimize these risks.
High Risk Business: Some businesses like ranching, construction, trucking, oil and gas, medical field or rental property face more legal risks. If you're in this type of field, talking to an attorney about protecting your assets is wise.
Upcoming Life Changes: Big life events like marriage, divorce, or retirement can impact your financial protection needs. An attorney can help you plan for these changes.
Potential Lawsuits: If you're worried about legal disputes like divorce proceedings or creditor claims, getting legal advice early can help protect your assets before any problems arise.
Tax Planning: Asset protection and tax planning often go hand in hand. An attorney can smartly structure your assets to reduce taxes while keeping them safe.
Begin The Asset Protection Process Today
It’s better to plan ahead than to react to a crisis later. Consult with our Tyler, TX, asset protection attorney to assess your situation and understand the risks.
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