A Law Firm Specializing in Asset Protection

In most cases
  • * The Texas homestead is entirely exempt from execution on a judgment
  • * Wages cannot be garnished in Texas to satisfy a judgment
  • * Vehicles that are paid for are safe from judgment creditors
  • * Retirement plans and college tuition funds cannot be attached
  • * The new Texas Series LLC is available to protect investments

COMPANY FORMATION (TEXAS AND NEVADA LLC´S)

Texas and Nevada LLC´s. LLC formation, including the new series LLC, is a specialty of ours and vital to our two-company asset protection strategy. For more details, go to Fees & Policies.

Shelf Companies. From time to time, we may have an inventory of existing, established companies that we can assign to you. These are companies formed by this office, often with unique anonymity features. Fees are substantially higher. For our current inventory, see shelf companies.

TEXAS ASSET PROTECTION

Asset protection includes achieving anonymity, deterrence of lawsuits, and insulation from judgments. We recommend the new series LLC (available in Texas or Nevada) which compartmentalizes assets and liabilities allowing the same company to safely hold multiple properties or businesses. These properties and interests can be located anywhere in the world and still be protected.

We have formed more series companies than any other law firm in Texas. Our article Asset Protection in Texas suggests using series companies as part of the following strategies:

LEVEL 1: Basic Asset Protection for Investors (the Texas Series LLC)

  1. form a Texas Series LLC or Nevada Series LLC to own and manage investment properties and businesses in separate "series" or compartments, establishing a barrier against personal liability in the event of lawsuits;
  2. file an assumed name certificate (DBA) for this Texas company and utilize the DBA in business dealings, contracts, etc.;
  3. establish a checking account for the company under its DBA´s and have checks, letterhead, cards, etc. printed that way, phone numbers list that way, etc.;
  4. transfer any properties held in personal names into individual series of the holding company (Series A, Series B, etc.) using properly-worded general warranty deeds;
  5. separate homestead and other creditor-exempt items from investments and businesses, then reduce debt on these items in order to maximize protections afforded by the Property Code and Texas Constitution;
  6. form a living trust for the homestead to avoid probate, transfer the home into it, and then execute a "pour over" will to transfer other assets to the trust upon your death.

LEVEL 2: Two-Company Structure (the "Texas Two Step")

  1. establish a Texas Series LLC or Nevada Series LLC to own and hold (but not manage) investment properties and businesses (the "holding company");
  2. form a separate Texas LLC to act as a "shell" management company (no significant assets) to acquire properties and then transfer them to the holding company; meanwhile the management company deals with tenants, vendors, contractors, and the public; income passes through to the holding company as consulting fees and returns to the management company, if needed, as management fees;
  3. file assumed name certificates (DBA´s) for both the holding company and for the management company and utilize these names;
  4. establish checking accounts for the each company under their respective DBA´s and have checks, letterhead, cards, etc. printed that way, phone numbers listed that way, etc.;
  5. transfer any properties held in personal names into individual series of the holding company (Series A, Series B, etc.) using properly-worded general warranty deeds;
  6. separate homestead and other creditor-exempt items from investments and businesses, then reduce debt on these items in order to maximize protections afforded by the Property Code and Texas Constitution;
  7. form a living trust for the homestead to avoid probate, transfer the home into it, and then execute a "pour over" will to transfer other assets to the trust upon your death.

LEVEL 3: Texas-Nevada Combination (the "Two-State Solution")

  1. establish a Nevada Series LLC to own and hold (but not manage) investment properties and businesses (the "holding company") achieving a measure of physical and legal distance and anonymity from Texas plaintiffs;
  2. form a separate Texas LLC to act as a "shell" management company (no significant assets) to acquire properties and then transfer them to the holding company; meanwhile the management company deals with tenants, vendors, contractors, and the public; income passes through to the holding company as consulting fees and returns to the management company, if needed, as management fees;
  3. file assumed name certificates (DBA´s) for both the holding company and for the management company and utilize these names;
  4. establish checking accounts for the each company under their respective DBA´s and have checks, letterhead, cards, etc. printed that way, phone numbers list that way, etc.;
  5. transfer any properties held in personal names into individual series of the Nevada holding company (Series A, Series B, etc.) using properly-worded general warranty deeds;
  6. separate homestead and other creditor-exempt items from investments and businesses, then reduce debt on these items in order to maximize protections afforded by the Property Code and Texas Constitution;
  7. form a living trust for the homestead to avoid probate, transfer the home into it, and then execute a "pour over" will to transfer other assets to the trust upon your death.


The outcome? The holding company (which owns your hard assets) has no business dealings (i.e., no legal "privity") with anyone and is therefore nearly impossible to successfully sue; the shell management company, if sued, has few if any exposed assets; and, as to the homestead, protections are maximized and probate is eliminated.

ONLINE CONSULTATIONS AND SERVICES

Email us with your inquiry. You will receive a prompt, confidential response with preliminary comments and a confirmation that we handle your type of case. A detailed paid consultation – called an asset protection review or APR – then follows. The APR is a comprehensive analysis that includes recommendations for revising your personal circumstances, establishing a business structure, and defending your property. We will need to see a brief summary of your finances as well as any applicable paperwork to adequately advise you. During the APR we discuss your situation thoroughly by email (supplemented by phone and fax) until legal advice and guidance are substantially complete. Reasonable follow-up questions are included.

New clients are accepted online only. Rendering quality legal services online results in unparalleled efficiency, rapid response time, and reasonable cost. It is undoubtedly the wave of the future, but it may not be for everyone. Those who require personal one-on-one time with a lawyer for routine matters should seek the services of a traditional "low tech" law firm. Inquire – we may be able to recommend one.

FEES

The fee for the APR is $250 and is credited to the fee for forming a Texas Series LLC or Nevada LLC ($750 plus filing fees and costs) or living trust ($550 excluding the deed into trust). Our fees are competitive and reasonable - particularly considering the specialized and unique nature of our services – but we do not negotiate fees. Read Fees & Policies which apply to all clients in place of fee agreements.David J. Willis Attorney

QUALIFICATIONS, ETHICS, AND CONFIDENTIALITY

30 years experience in Texas transactions and litigation
Board Certified – Residential Real Estate Law, TBLS
Board Certified– Commercial Real Estate Law, TBLS
AV rated for ethical standards and professional ability
Two law degrees (J.D. and LL.M.)
Former adjunct law professor
Licensed Texas real estate broker
David J. Willis Bio - Lone Star Land Law

Verify these credentials.

Adherence to the highest ethical and performance standards is an essential part of our firm philosophy. This office subscribes to The Texas Lawyer’s Creed and the Code of Ethics of the National Association of Realtors. Preservation of our clients’ confidentiality is paramount. Even so, we are occasionally asked for a client list. This is never provided. We would no more reveal the identity of our clients than would a Swiss bank.

CONSIDERING RELOCATING TO TEXAS?

Relocating to Texas as part of an asset protection plan has compelling advantages. Not only does Texas offer unique and comprehensive homestead and wage protections as part of its constitutional and statutory law – superior to those offered in any other state – but Dallas, Austin, Houston, and other Texas cities are exciting and dynamic places to live. While other states are closing schools and parks, reducing police and firefighters, and looking for a federal bailout, Texas is stronger than ever. With its extensive homestead protections, its progressive Business Organizations Code, no personal income tax, and the introduction of the Texas Series LLC, Texas continues to live up to its reputation as the best state in U.S. in which to do business and protect assets.

Since Mr. Willis is also a licensed real estate broker, a unique aspect of this practice is the availability of combined lawyer and broker services – a superior level of expertise unmatched by other firms. Clients seeking to acquire property in Texas will be required to sign a buyer’s representation agreement since this is an essential part of how we are compensated. Read Information about Brokerage Services at http://www.trec.state.tx.us/pdf/contracts/OP-K.pdf.

AREAS SERVED

Because of our unique blend of services and online capability, this firm has clients from all parts of Texas and around the world – Europe, Asia, and Latin America. Our principal office is in the Houston area. David J. Willis is a real estate attorney and asset protection attorney serving Houston, The Woodlands, Dallas, Austin, San Antonio, and all other Texas communities.