Tag : asset protection near me

What You Need to Know about Asset Protection

At Metroplex Wealth, we find that new clients have many misconceptions about what asset protection is – and what it isn’t. It’s a complicated topic but Metroplex Wealth – a leader in asset protection in Southlake – is here to shed some light on the subject:


What Asset Protection is Not

Let’s start with what asset protection is not. Asset protection is not a form of fraudulent finances. It’s not hiding from your taxes or litigation. It’s not funny accounting. Asset protection is a perfectly legal way of working within the laws to create situations where your money is protected should you face future litigation or other liabilities. Another primary goal of asset protection in Southlake is to give our clients ways in which they can deter litigation or other claims before they every begin.


When is Asset Protection Ineffective?

Some form of asset protection is a must for all of our clients, but it is completely ineffective if you are already facing pending litigation, being audited, or there is any hint of an issue on the horizon. These issues could include bankruptcy, lawsuits, inquiries into your taxes, etc. At this point, asset protection strategies cannot help as they can be seen to obstruct justice.


Areas of Asset Protection

By now you may be wondering, “so how can asset protection strategies help me?” Asset protection in Southlake effects everyone. In fact, you could even think about your basic liability insurances on your properties, vehicles, etc. as a form of asset protection. Other areas we often recommend for clients include:


  • Trusts: Protect assets you’d like to leave to your heirs through a formal trust
  • 401(k) Plans: 401(k) and 403(b) plans offer protection of your assets from pending creditors.
  • Gifting: One way to protect your money is to go ahead and gift it to charities of your choice or the heirs you would eventually leave it to anyway.
  • Family Limited Partnerships: These FLPs provide a safety net for your assets through a partnership.


Metroplex Wealth: The Best of Financial Planning and Legal Expertise

When looking at firms who offer asset protection in Southlake, it’s important to consider all the services offered. Metroplex Wealth has the district advantage of sharing our office with the legal office of Redding Law Firm. Having an attorney here at our wealth management office offers you the distinct advantage of having everything you need in one place. No need to send paper trails back and forth between your financial advisor and lawyer; we can handle everything in-house. Need to talk with someone personally about your situation? Our boutique financial planning office guarantees a personal, hands-on approach to each client.

Ready to learn more about asset protection and how it can benefit you? Give us a call today at Metroplex Wealth in Southlake, Texas.

5 Asset Protection Strategies that Really Work

An important aspect of wealth management is asset protection. In a world where lawsuits happen everyday – over the most flippant of reasons – you must ensure that your wealth is secure and well insulated from creditors and lawsuits. This is where asset protection near me comes into play.


Our team at Metroplex Wealth specializes in protecting your assets for future generations.  We don’t do it by lying or hiding your wealth; we use the law to our advantage to create a specialized solution that works for you and keeps your money safe. Here are 5 asset protection strategies we recommend that really work:


Have a Plan Now

Here’s the thing: when you realize you need an asset protection strategy, it might be too late. Moving money around near the date of litigation can be misconstrued as a fraudulent transfer and may get you in more legal trouble. Instead, plan now and assume that litigation could happen to you. Take the proper steps now to protect your assets.


Use Retirement Plans to Your Advantage

Retirement plans are a great place to diversity wealth and protect it from creditors and litigation. 401K plans and 403B plans are exempt from creditors until assets are distributed, making them a great form of asset protection near me. IRAs are also somewhat shielded from creditor liabilities, but don’t hold the same restrictions as other retirement accounts.


Gift the Money to Family or Charities

Here’s an easy one: give it away. If you anticipate giving your assets to your children eventually anyway, you may consider diversitying your estate plan and providing asset protection through gifting today. Your favorite charity could also benefit from your generosity.


Know Your Insurances

Insurance is very important, but it’s not the end-all-be-all when it comes to asset protection near me. Know the policies you have, what they cover, and what they don’t. Consider an umbrella policy to cover you for unexpected liabilities. Using insurance in conjunction with other estate planning technques can be a great way to protect your assets.


Keep Your Personal and Business Finances Separate

There needs to be a clear delination between personal assets and business expenses or you risk a creditor going after both! There are different vessels where you can protect money on both sides: trusts, LLCs, FLPs, etc. Talk with your estate planning attorney about what avenues best fit your needs for asset protection in Southlake.


If you are looking for someone to step in and help you protect your assets, then give us a call at Metroplex Wealth in Southlake, Texas. Our team specializes in asset protection, and we do not believe in “one size fits all” solutions. We tailor our approach to each client, creating a plan that’s best for you and your money. Call us today to set up a consultation.