An important consideration that we strive to educate our clients on at Jordan ESQ. is that even the most well-crafted estate plan does not create asset protection for your assets while you are alive.   

However, protecting your assets from potential creditors and judgments from lawsuits is a crucial component of comprehensive legal planning. Very few assets are exempt from the claims of potential creditors. The major categories of assets exempt in Texas are the primary residence or “homestead,” retirement benefits, life insurance, and annuities.  Assets not protected include cash, stocks and bonds, bank accounts, certificates of deposit, second residences, ranches, real estate, oil and gas properties, and closely-held businesses. 

To meet your asset protection planning needs, Jordan ESQ. specializes in techniques to limit assets’ exposure to potential creditors such as forming limited partnerships with LLC general partners that have management trust members, single-purpose LLCs with management trust members, series LLCs, marital agreements, and inherited trusts. 

When such asset protection planning is implemented, our firm goes the extra-step to ensure that the entities formed to protect your assets are structured to operate in conjunction with your estate planning so that these two areas of planning are “married” together to create a seamless overall plan.  

·   Using limited partnerships to own assets which are not protected
·   Having limited liability companies own single purpose assets
·   Utilizing a combination of grantor trusts, limited partnerships, and limited liability companies to protect assets
·   Creating a defensive wall to circumference the entire estate from potential claims and frivolous lawsuits
·   Creating trusts in jurisdictions with favorable laws
·   Utilizing insurance products to protect assets
·   Partition and marital planning