Hire Bankruptcy Attorney Austin TX | Reasons Why You Should Hire a Bankruptcy Lawyer
Asset Protection Plan
Our firm handles asset protection planning for clients. Since members of our firm have represented both debtors and creditors in a number of debt related cases for many years, we have vast frontline, practical experience in both the drafting of and the real world implications of asset protection planning methods. This experience gives us a unique perspective on whether an asset protection planning program will work before the final arbiter of all asset protection planning methods--the Courts. Our experience has proved invaluable to a number of our clients and allowed them to keep assets that would otherwise have been seized by their creditors.
Below are several of the methods used by The Brown Law Firm to protect client assets:
1. MAXIMIZATION OF EXEMPTIONS- One of the best methods to protect client assets is through the use of maximizing a client's exempt property (property protected from general unsecured creditors, such as personal injury claimants). This includes the protection of client assets through the use of the homestead exemption and the maximization of other exempt property, such as life insurance policies and retirement accounts. Many of our competitors may understand state exemptions, but they do not know about exempting property in the case of a bankruptcy. Our knowledge of both state and federal exemptions and the use of such exemptions in and outside of a bankruptcy context gives us a distinct advantage over our competitors in the asset protection planning arena.
2. FORMATION OF BUSINESS ORGANIZATIONS- Legal entities such as corporations, limited partnerships (including family Limited partnerships) and limited liability companies (LLCs) will help protect your personal assets from business liability. As long as you capitalize and operate your company properly, you have substantial asset protection afforded by business organization laws. We both form and maintain these legal entities for clients.
3. ESTATE PLANNING- Proper estate planning, through the use of wills, trusts and other legal instruments can be used to protect your assets, from both present and future creditors. This will ensure that your assets will go to the persons you desire to receive them.
4. PRENUPTIAL AND POSTNUPTIAL MARITAL AGREEMENTS- These agreements can be used to protect client assets from the liabilities of a spouse or third-party creditors. Our firm's vast experience in family law matters helps us in this area of asset protection planning.
5. BANKRUPTCY - This method of asset protection planning is an effective tool that you can use to help protect your home, investment accounts, IRA's, 401K's, life insurance proceeds, and other assets from creditors. Many times we use bankruptcy as a last resort, depending on the client's unique circumstances. Our vast knowledge of bankruptcy proceedings allows us to know whether to place a client into bankruptcy.
The Brown Law Firm provides clients with effective, practical asset protection planning from the claims of unwanted creditors. If you are in need of asset protection planning, contact us for an evaluation.
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