Asset Protection

At the law office of Stephen Kaplan, P.C., in Dallas, Texas, we provide assistance in helping individuals to determine the most efficient and effective methods to protect personal and business assets from liabilities due to litigation, marital discord or other asset risks. Our experience allows us to meet the needs of clients with even the largest and most complex asset portfolios.

Contact our lawyers today to schedule a confidential consultation regarding the creation or review of your asset protection plan.

Shielding What You Earn: Asset Protection Planning

The primary goal of asset protection is not tax avoidance but rather to guard against litigation, judgments and liens in numerous contexts. If done correctly, asset protection can shield your property from:

  • Personal liability as a corporate officer or director
  • Liability as guarantor for the debts of another
  • Professional malpractice liabilities
  • Suits by former business partners
  • Personal injury suffered on your property
  • Personal injuries involving your motor vehicle
  • Liability arising from personal malfeasance

Insurance alone cannot adequately protect you against all of these threats in all cases. We help clients secure stronger protections through legal tools such as domestic and foreign trusts, individual retirement accounts, life insurance policies, annuities, home equity and deferred benefit retirement plans. We can also help clients establish a credit shelter trust or bypass trust when the goal is to protect a minor child's assets from access by third parties.

Methods of Asset Protection

We work closely with our clients to determine the best method to protect their assets against litigation, judgments, liens and all sources of liability. These methods include:

  • Determining the appropriate entity choice, such as a limited partnership, limited liability company or corporation
  • Setting up different types of revocable and irrevocable trusts, including domestic and foreign asset protection trusts, and handling compliance issues regarding foreign asset protection trusts
  • Drafting partition agreements and marital property agreements to convert community property into separate property in cases where one spouse is in a high-risk occupation
  • Using insurance products to help protect assets or provide liquidity for potential liabilities
  • Transferring assets using installment notes, private annuities, structured financial products, charitable gifts and other asset protection tools
  • Creating family limited partnerships and dynasty trusts

As part of our asset protection services, we review, develop and implement asset protection plans based of a thorough inventory of clients' assets and liabilities. We also periodically review and update existing asset protection plans as necessary to accommodate a client's circumstances or changes in the law. Our firm is dedicated to helping clients protect their assets for the future.

Put Our 30-Plus Years of Experience to Work for You

Our Dallas asset protection attorney has more than 30 years of experience representing individuals and businesses in asset protection planning. Contact Stephen Kaplan, P.C., today to schedule a confidential consultation.