Protecting Personal and Company Assets
Asset protection is an important part of operating a business. Not only do you need to protect business assets from creditors and judgments, you also need to protect your own, should your business fail or be sued. Asset protection is also important for professionals, such as doctors and lawyers, who wish to protect their personal assets in the event of a malpractice lawsuit.
At the Charles Johnson Law Firm in Austin, Texas, we can help with all of your asset protection needs. We sit down with you to discuss your situation and explain the available tools, including trusts, asset transfers and entity selection, that will help meet your financial goals.
A good asset protection plan protects wealth and property from creditors and other judgments. It includes a diversified portfolio of asset protection and estate planning strategies tailored to meet the needs of the individual or business.
Asset Protection for Businesses
The right entity selection can protect company assets and shield business owners and partners from being personally liable in case of a creditor judgment or a lawsuit. We will work closely with you to develop a successful business asset protection plan. We will help you choose an entity that matches your business goals and puts you in a favorable position.
Asset Protection for Individuals
A limited liability company or limited liability partnership or corporation does not protect professionals from malpractice lawsuits. Nor, does it protect assets in the event of separation or divorce. Depending on your situation, you may choose to transfer assets to a spouse or loved one, or gift assets in increments to your children. Other, more complex, plans include setting up an asset protection trust.
At the Charles Johnson Law Firm, we have the knowledge and experience you need to put together a plan that protects your assets as much as possible.
Talk to a Lawyer About Your Asset Protection Needs
Asset protection can help ensure you and/or your business are protected against creditors, judgments, excessive taxes and nursing home expenses, and more. To learn about the options available to you, contact us today to speak with an attorney in a free consultation.