Asset Protection Attorney in Burleson

Protect Assets Now & Plan How They Transfer

Effective asset protection starts with identifying what Texas law already protects, what may remain exposed to creditors, and how ownership decisions affect property over time. Since 1990, the probate attorneys at Coontz Cochran have advised families in Burleson, Johnson County, and Greater Fort Worth on protecting assets and planning future transfers.

We review how the following may affect what happens to property:

• Wills
• Beneficiary designations and payable-on-death accounts
• Joint ownership arrangements
• Disagreements among family members

That review includes determining whether property is likely to pass through probate or by a nonprobate transfer, which occurs outside the court-administered probate process.

Call (888) 858-0536 to request a free initial consultation about your property, potential exposure, and transfer goals.

Texas Homestead, Property & Retirement Account Exemptions

Texas law provides significant protection for certain homes, belongings, and qualified retirement accounts. These exemptions have limits and exceptions, so the type and value of the property, existing liens, and the nature of a creditor’s claim all matter.

Important statutory protections include:

• Texas Homestead Exemption: Texas Property Code Section 41.001 generally exempts a qualifying homestead from seizure for creditors’ claims without a dollar-value cap. The acreage limit is 10 urban acres, 200 rural acres for a family, or 100 rural acres for a single adult. Exceptions include purchase-money debt, property taxes, and valid written mechanic’s liens. They also include certain refinance liens, qualifying home-equity credit, and reverse mortgages.
• Personal Property Exemption: Section 42.001 protects eligible personal property with an aggregate fair market value of up to $100,000 for a family or $50,000 for a single adult, excluding the value of liens.
• Retirement Account Protection: Section 42.0021 protects assets in qualifying retirement plans, including individual retirement accounts and 401(k) accounts. This protection applies separately from the exemption under Section 42.001.

Trusts & Business Ownership Structures

Trust and business ownership arrangements may affect control, creditor exposure, and eventual property transfers. The appropriate analysis depends on who contributes the property, who benefits from it, and when the arrangement is created.

Third-Party Spendthrift Trusts

A third-party trust is created and funded by someone other than its beneficiary. Under Texas Property Code Section 112.035, a spendthrift provision may restrict the beneficiary’s ability to transfer a trust interest and may limit qualifying creditors from reaching that interest while it remains in the trust. Texas courts recognize these restrictions in qualifying third-party trusts.

Reciprocal Irrevocable Trusts

Section 112.035 also addresses arrangements in which spouses partition community property into separate property and create reciprocal irrevocable trusts for one another’s benefit. An irrevocable trust generally can’t be changed or revoked freely after creation. Its terms and funding require careful review.

Self-Settled Trusts

A self-settled trust is funded by a person who may also be a beneficiary. Its treatment requires current, fact-specific analysis under applicable law. We review the trust’s terms, funding, and timing as part of that analysis.

Business Entities

Limited liability companies and family limited partnerships may be considered when evaluating business interests and investment assets. Forming an entity alone doesn’t resolve every creditor or transfer issue. Ownership, control, and the timing of transfers all affect the analysis.

Why Timing Matters for Asset Transfers

Asset protection planning should occur before a lawsuit or creditor claim develops. Transfers made after a claim arises may receive greater scrutiny, particularly when a creditor alleges that property was moved beyond lawful collection.

The Texas Uniform Fraudulent Transfer Act governs certain transfers challenged as intended to hinder, delay, or defraud creditors. A creditor generally has four years from the transfer date to bring such a challenge, or one year after the transfer reasonably could have been discovered if that date is later. Whether a transaction is voidable depends on the facts and applicable law.

Creditor Issues During Estate Administration

Probate administration addresses creditor claims and property distribution after death. Our probate services include filing required notices to creditors and advising clients about issues that arise during estate administration. We help clients follow Texas law as property is distributed and advocate for a fair, accurate interpretation of the will.

We also compare the will with nonprobate transfer instructions because outdated or inconsistent directions can affect who receives an asset and which process governs its transfer.

Discuss Your Asset Protection Priorities

A free initial consultation is an opportunity to discuss your assets, ownership arrangements, potential exposure, and probate concerns. Clients tell us that we explain legal procedures clearly, keep them informed, and remain accessible when questions arise.

Our contact form is also available for questions about how asset protection and probate concerns intersect.

Call (888) 858-0536 to schedule your free initial consultation with Coontz Cochran.