Trusts for Asset Protection
Holding assets in trust avoids the time, expense and public disclosures of probate in the event of your death. More immediately, trusts can offer protection from lawsuits and creditors. However, simply pouring assets into a trust does not automatically keep creditors at bay.
At The Law Offices of Kennedy & Jackson, we have long experience in choosing, structuring and managing many types of trusts as part of an overall estate planning and asset protection strategy. We advise anyone who has significant interests to protect — business owners, professionals, high earners and individuals coming into a substantial inheritance or settlement.
ESTABLISHING AND MANAGING TRUSTS FOR ASSET PROTECTION ATTORNEYS IN HARRIS COUNTY WITH DECADES OF EXPERIENCE
Asset protection trusts have a bad connotation as offshore vehicles for hiding wealth from the IRS, court-ordered child support, an ex-spouse or secured creditors. Such strategies are unlawful and eventually backfire.
We focus on the legal and legitimate use of trusts to protect clients from frivolous lawsuits and judgments, and to protect your children from creditors when they inherit. Law partners Thomas Kennedy and David Jackson are board-certified as estate planning specialists by the Texas Board of Legal Specialization. They are committed to protecting your hard-earned wealth and steering you away from legal trouble.
Our attorneys have a sophisticated understanding of asset protection strategies, including:
- Domestic asset protection trusts (DAPT) — The Nevada trust, Delaware trust and similar self-settled trusts that shelter assets without having to give up total control
- International asset protection trusts (IAPT) — Hybrid trusts created and controlled in the U.S. and subject to U.S. jurisdiction but owning assets in foreign jurisdictions (such as the Cook Islands, Nevis or Belize) which are hostile to certain types of creditor claims
- Spendthrift trusts — Grantor-controlled trusts with provisions to protect beneficiaries not only from creditors but from their own irresponsible spending habits
ASSET PROTECTION TRUSTS ARE LEGIT — IF THEY ARE SET UP PROPERLY
It is imperative to work with a lawyer who can navigate you through the treacherous waters of asset protection. We take great care to make sure clients are fully compliant with state and federal laws regarding reporting, taxation, trustees, beneficiaries and distributions. We invite you to arrange a complimentary and confidential consultation about these complex instruments.
We are located in the Galleria area of Houston, with free on-site parking available next to our office building. To schedule an appointment with one of our board-certified attorneys, call 713-783-7444 or send us an email.