Estate Planning & Asset Protection FAQs

    • Q: What is Asset Protection?
      • A. Asset protection is a method of arranging assets in a way that will preserve as much value as possible in the event of a family member’s death or financial problems. The process of asset protection requires a professional to know his way around a variety of areas of law, such as creditors’ rights, bankruptcy, divorce and estate planning/probate, as well as estate and gift taxation, trusts, partnerships, laws of foreign countries, conflicts of law, pension plans, corporate law, family law, and the laws concerning Social Security; Medicare, and Medicaid.

 

  • Q: Is my house exempt from creditors?
    • A. Generally yes. Under Texas Law your household is exempt from general creditors. Your household is not exempt from the first lien money Mortgagee, IRS, or Home Improvement Loan.