Here for you, here to help.

214-423-5100

Albin Yates Balius Roach, Attorneys at Law

Advancing Integrity. Preserving Truth.

Here for you, here to help.

214-423-5100

Erin has been great to work with during a very difficult time. She always has great answers and sees things from a different perspective. Whenever I get rattled or down she always picks me up and has a great sense of humor. I can't imagine going through my divorce without Erin representing me.

— P.G., Denton County

Asset Protection Planning

Our Frisco and Plano Estate Planning Attorneys Help You Develop a Smart Plan

Albin Roach takes a two-pronged approach to asset protection. First, we strategize ways to preserve your wealth during your lifetime, including minimizing tax liability and avoiding financial depreciation. Second, we organize a plan that leaves as much of your property as possible to the beneficiaries you choose, rather than the IRS and creditors. We coordinate your asset protection and estate plans using a variety of tools tailored to your individual financial and familial situation and goals.

Establish a Trust

Assets held in trust belong to the trust, not to the individual grantors or beneficiaries. Certain types of trusts allow you to enjoy the benefits of your wealth, while producing asset protection benefits, such as:

  • Reducing taxes during your lifetime
  • Reducing estate taxes owed by your estate after your death
  • Protecting your property from creditors
  • Managing funds on behalf of minor children
  • Supporting your family in the future
  • Ensuring money is available to care for your pets
  • Creating an account to maintain real property, art or a charity

A variety of trusts exist that fulfill their own unique objectives. Including the correct language in your trust is crucial for the instrument to produce the results you want. Our Frisco and Plano estate planning attorneys evaluate your goals to choose the right type of trust.

Remain Mindful of the Estate Tax Minimum

Upon your death, your estate is responsible for paying estate taxes to the Internal Revenue Service (IRS) and Texas if your property is above the value prescribed by the tax codes. Both Congress and Texas adjust this limit periodically, so it is important to know what the exemption amounts are from year to year. Our lawyers stay current on the estate tax requirements and we advise you on your options when your portfolio nears the estate tax exemptible amount.

Make Gifts Equal to Annual Exclusion

The IRS allows your estate to exclude a specified amount of gifts you made annually and over your lifetime from your estate for estate tax purposes. The Congress and the IRS continually revise the allowable annual and lifetime gift amounts. We can help you avail yourself of the full permissible amount.

Sign a Prenuptial Agreement

Texas is a community property state which means when you get married your income and assets acquired during the marriage are presumed to be community property and your spouse has the right to a portion of the community estate. However, you and your spouse can negotiate a prenuptial agreement that alleviates the uncertainties faced by many couples upon the death of a spouse or a divorce. Before you marry, discuss your options for preserving your property and preparing for your future. Our family law and estate planning attorneys work together to protect your assets in a manner that is respectful and fair to your soon-to-be spouse.

Develop an Asset Protection Plan with the Help of Our Frisco and Plano Estate Planning Attorneys

Albin Roach tailors an asset protection plan focused on your objectives. To schedule an asset protection evaluation, call our estate planning law firm at 214-423-5100 or contact us online.