At the Law Firm of William A. Walsh, we are committed to keeping the personal assets of individuals in the Granbury area safe from seizure. We understand the sentimental value of your personal items, as well as the importance of your business’ survival in our current economic state. We want to make sure that you can stay protected when faced with the uncertainty of the courtroom.
Our practice aims to protect your assets from seizure, making sure you maintain ownership of your most prized possessions. Based in Granbury, our firm is dedicated to the local community, serving your needs, and helping you maintain legal rights over your personal property.
When it comes to any serious legal matter, the advice and guidance of a legal professional is always the best line of defense, especially concerning asset protection. Whether you seek to protect your valuables during a marital separation or as a safeguard for your business, asset protection is a crucial part of the process. Some of the most important reasons for protecting your assets include:
Asset protection is one of the best plans for small businesses, in particular, especially concerning the high-risk consequences of a potential claim. After your malpractice insurance is spent on restitution in the trial, your assets can be used to make up the difference based on the ruling. Setting up a plan with a personal asset protection attorney can help you protect your belongings in both your personal and professional life.
For small businesses or private practice owners, asset protection beyond your insurance coverage is key in planning your expenses. For example, if your business is brought to court over a liability issue and your insurance plan does not cover the full extent of the charges, your personal assets could satisfy the claim. One of the most successful ways to protect against these claims is to form a limited partnership or limited liability company (LLC). This adds another level of protection between your business and your personal assets.
Used as a preventative measure, asset protection can help shield your belongings in the most uncertain of situations. Asset protection begins with planning out what possessions and resources you would like to protect that are not already covered by law. No one expects to be called into court, especially in cases concerning repaying damages or rectifying some form of wrongdoing. Making sure you are ready for a possible court appearance is always a good strategy.
Asset protection is the process of legally safeguarding your assets in the event that you are the subject of an investigation. Developing the logistics of your assets before a possible appearance in court can save you money, time, and heartbreak from the loss of your personal property.
Your assets could be seized as a form of restitution to rectify the damages brought forth in a common claim. Fortunately, various state laws, including the Texas Property Code 41.001, Texas Property Code 42.002, and Texas Property Code 42.0021, protect you from losing your home in these judgments. They also shield other essential assets, such as your life insurance plan. Although your main home cannot be seized, any other properties you may own could be taken by the bank. Legally protecting these assets is within your best interest.
Beyond the protection of up to $60,000 worth of personal items, other assets, such as heirloom jewelry or precious antiques, are subject to seizure. Depending on the method of financing you used to buy your car, cars can also be subject to seizure by the bank. Texas Property Code 42.002 (9) outlines the guidelines for the seizure of cars and automobiles. This safeguards family vehicles that are deemed necessary for transportation of non-licensed people in your household, namely children. However, other cars and transportation methods, like recreational sports cars, may be subject to seizure. To keep these personal items safe, consult the Law Firm of William A. Walsh for expert services.
Fortunately, Texas is extremely forgiving when it comes to asset protection. Texas state law prevents the seizure of your home, necessary transportation, and thousands of dollars in valuables. There are numerous laws and regulations put into place to keep your property safe from legal seizure. However, taking extra precautions to make sure all your property stays safe is extremely important. Choosing the right law firm that is willing to provide you with the necessary legal counseling for asset protection is equally as important. Doing so can make all the difference if you are facing legal seizure of your possessions, properties, or other resources.
At the Law Firm of William A. Walsh, we understand that the methods of safeguarding your assets can be confusing, but we can provide the expertise and guidance to help you properly secure the things that mean the most to you. Our asset protection services are here to help protect the personal property of those in the Granbury area from seizure. Whether you need help during a divorce or a malpractice lawsuit, our expert services can help you protect your personal property. For more information, contact us and schedule your consultation today.