Protect Assets And Avoid Probate Through Innovative Strategies
The goal of avoiding probate motivates many people to seek legal counsel on complex estate planning. A comprehensive asset protection plan may emerge during focused conversations between clients and attorney James H. Hard, Jr. in Houston. Clients often ask pointed questions about asset protection and avoidance of probate, including:
- How can I keep as many of my assets as possible in the family after my death?
- How can I keep control of my assets during my lifetime while also keeping those assets secure for a smooth wealth transfer after my death?
- How can I structure a trust to allow my adult child to care for me with my resources if I become disabled or incapacitated – and still preserve those assets for distribution to my chosen beneficiaries after death?
- How can I, as a practicing physician, protect myself from potential loss of personal assets in the event of a medical malpractice claim?
These are exactly the types of questions that Mr. Hard tackles with confidence on a regular basis. The first step to arriving at appropriate, personalized answers is to sit down with the lawyer to conduct an inventory of assets and review recommended estate planning tools.
Advanced Asset Protection Planning And Implementation
Specifically, James H. Hard, Jr., Attorney at Law, helps many Texas clients preserve and transfer assets through various customized methods, including:
- Planning and implementing wealth transfers to family members and charity using testamentary and lifetime vehicles for high net worth families
- Planning and drafting charitable lead and remainder trusts, outright gifts to charity, gift annuities and other split interest gifts to charity
- Obtaining and maintaining federal and state tax exemptions for nonprofit corporations and trusts; also overseeing operations of these endeavors
- Creating spendthrift trusts as a form of protection of assets from creditors in the event of a lawsuit or other liability risk
- Creating self-settled trusts in other states that will keep assets away from potential future creditors as long as they were owed nothing at the time the trusts were created
- Partitioning separate or community property between spouses as a means to protect assets from potential future creditors of one spouse
Will any of these asset protection strategies apply to your estate plan? Will estate taxation be an issue for you and your family? For a personalized review of your assets, will, trusts and related documents and instruments, call 346-800-5250 or send an email inquiry through this website to schedule a consultation.