Domestic Asset Protection
If You Live in Texas, Make Sure That Your Assets are Protected During Divorce
When you have high net worth assets and you are going through divorce, one of your primary concerns should be shielding those assets from divorce litigation and creditors, as well. An experienced asset protection attorney can assist you in establishing barriers to protect your assets, such as the creative use of trusts and business formation.
To find out more, contact family law attorney Bruce Turner of Bennett, Weston, LaJone & Turner, P.C. With more than 42 years of collective experience serving a number of high net-worth clients in Dallas and surrounding areas, we are prepared to aggressively represent your best interests.
Individual and Family Domestic Asset Protection
Real estate tends to be amongst the most valuable assets for both individuals and families. There are ways of ensuring that real estate and other high net worth assets are protected, such as through the creation of trusts and limited liability companies.
Prenuptial agreements can be one of the best ways to protect your assets if you are entering into marriage. Similarly, even if you failed to enter into a prenuptial agreement, you can still enter into a postnuptial agreement to protect the very same interests after you are already married.
Some of the most common issues addressed in these agreements include:
- Death benefits
- Insurance policies
- Business ownership and division
- Property acquired before and during the marriage (as well as the right to dispose, buy, sell, use, transfer it, etc.)
- Spousal support
- Wills and trusts
- Bank accounts
- Retirement accounts
- Investment income
The family business can become one of the most contentious, complex assets to address during divorce. This is because it is both an asset, as well as a source of marital and/or individual income. Typically, spouses will agree to keep running the business in spite of the divorce, sell it and divide the profits, or allow for one spouse to keep the business while offsetting its value with other assets. However, our high asset divorce attorneys may be able to help you come up with a creative strategy that better suits your needs.
You want to do everything that you can to avoid contested probate when it comes to your assets.
Attorney Bruce Turner of Bennett, Weston, LaJone & Turner, P.C. has significant experience assisting clients throughout Texas with complex estate planning concerns, both within and outside of divorce.
Alongside asset protection, estate planning, property, real estate, and other concerns during complex divorces, we work closely with our clients in the areas of tax compliance and review so as to help formulate creative solutions to help protect their assets.
Contact Our Texas Divorce and Asset Protection Attorneys
If you are a professional, you have all the more reason to implement an intelligent pre- or postnuptial agreement that clearly spells out expectations for the marriage as part of an overall asset protection plan in case of divorce and/or other litigation. Make sure that you are not an easy target — contact our professional Texas divorce and asset protection attorneys today.