Dallas-Fort Worth Asset Protection Lawyers
Knowledgeable & Reliable Legal Guidance
Crain & Wooley helps clients protect their hard-earned assets with the right legal documents and planning strategies. If your goal is to shield your wealth from nefarious parties and ensure your legacy is preserved, then please don’t hesitate to reach out to our skilled legal professionals to get started drafting a comprehensive estate plan that can achieve your unique goals.
What Is Asset Protection?
The goal of asset protection is to strategically insulate your assets to prevent costly lawsuits and devastating losses. While many people think that asset protection strategies are only for the wealthy, homeowners of all backgrounds benefit from asset protection because it allows them to take control of what they own.
Potential Risks to Your Assets
Our asset protection attorneys can help you understand and plan for potential liability risks property owners might face in the future. Crain & Wooley is here to use our extensive resources to help you protect your personal and business assets from:
- Liability arising from misconduct
- Personal injury sustained on your premises
- Professional malpractice liability
- Lawsuits filed by former business partners
- Personal injury resulting from a car accident
- Personal liability of corporate officers and directors
Asset Protection Tools
When you choose Crain & Wooley to represent you, we will devise a detailed plan that will preserve your wealth and avoid business and tax losses. We can protect your entire fortune with the following asset protection tools:
- Asset Planning: Real estate, stocks, and pensions are valuable components that need to be considered in your estate plan. Our lawyers can help you account for all of your assets and add the right protections to your plan.
- Liability Protection: We can recommend strategies to minimize various risks from state and federal tax liens, claims from creditors and collection agencies, and former marriage partners or business partners.
- Limited Partnerships: A family limited partnership can be used to shelter wealth and still retain control over the assets.
- Domestic Asset Protection Trusts: This type of trust is an irrevocable trust that can be established to protect your assets from creditors while retaining access to the assets.
- Third-Party Discretionary Trusts: Sometimes called “spendthrift” trusts, this allows a relative to create a trust fund with certain restrictions. Spendthrift trusts are suitable for people who are worried their loved ones might recklessly spend the funds.
- Limited Liability Companies: An LLC is a business entity that is entirely separate from the owners. This type of business entity protects your personal assets if the LLC is a defendant in a lawsuit.
If you would like to speak with an experienced lawyer to determine which asset protection strategy is right for you, then please call (972) 560-6288 today fill out our convenient online schedulerto request a free consultation.
We would recommend Shelly Joyner as well as Crain & Wooley.- Brian Wenning
Justin made it very easy.- Mike and Carolyn Dickey
Your professionalism and ability to explain things was phenomenal.- Edward and Janice Tietz
Extremely efficient and kept us on track.- Gayle Stoumbaugh
We could not be more pleased with the final results- Curtis & Virginia Smith