Asset protection is a broad area of law that tries to shield assets from creditors and other parties. The American Bar Association says that asset protection is for “high-risk occupations (i.e., doctors and real estate developers) and very wealthy individuals that realize they are targets for creditors.” And while that’s true generally, in states like Texas, many of the…
If you’re a business owner moving to a new state like Texas and taking your LLC with you, one question can be at the top of your mind: how to legally bring the company with you. A common situation is maintaining registration in Delaware, and moving to a new state. Perhaps you want to maintain legal status in your…
Within popular culture, prenuptial agreements often get presented as a hurdle to true love or marriage. In the 2003 romantic screwball comedy movie, Intolerable Cruelty, George Clooney and Catherin Zeta-Jones’s characters dramatically rip apart prenuptial agreements as a sign of their love. But this is an overly simplistic view of what can be an essential tool in protecting a…
Texas is known as being a haven for debtors, going back to before it was even a US state. Protections for debtors against creditors run through Texas history and inform the state constitution. In an interview with Dallas Morning News, one advisor for JPMorgan called Texas one of the most debtor-friendly states, and said that “The Texas Constitution is…
One of the inevitable questions anyone has when they’re either educating themselves on asset-protection in Texas or developing a plan for it is whether or not to go the do-it-yourself route. The proliferation of DIY legal websites the past several years has made it easier to cut out the middleman and forge ahead solo. While this method can save…
From aspiring entrepreneurs and newly-minted investors to well-established business owners and those who have already accumulated significant wealth there is an overarching theme occupying the minds of all of us. That is, “How do I protect what I have (or hope to have) from those who might come to take it?” Regardless of whether “others,” to you, means the…