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Asset Protection


Asset Protection

Tax Law Firm Located in the DFW Metroplex Serving Texas and the United States – Dallas Tax Attorney + CPA

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Regardless of your age, if you have significant assets, you should protect them against unforeseen circumstances or judgments. An experienced lawyer who understands complex estate planning, including how to use tools such as wills and trusts, can explain your options to you and provide advice on how to best protect your assets. Located in Dallas, Texas, and serving individuals throughout Texas and the rest of the United States, Bruce E. Bernstien & Associates has been advising clients about asset protection for more than 30 years.

In addition to more than three decades as a practicing attorney, Mr. Bernstien is also a CPA. Utilizing his experience and background, Mr. Bernstien can help you protect your assets while limiting the amount of your tax liability. You get the best of both worlds: asset protection and reduced tax liability.

Experienced Dallas/Forth Worth, Texas Asset Protection Attorney + CPA

Asset protection can involve complex estate planning, including the use of tools such as wills, trusts, and business entities. It is important that you know and understand your options and receive counsel from an attorney and CPA who can devise and execute the appropriate plan.

As an asset protection attorney and CPA, Bruce Bernstien utilizes his experience and background to help you formulate and execute a plan perfectly suited to your goals. He will take the time to explain and discuss your options, including the benefits and limitations of your choices, thus allowing you to make informed decisions. By retaining an experienced tax attorney & CPA to handle your asset protection matter, you can count on a plan that will be handled in a professional, economical and efficient manner.

Contact an Experienced Dallas/Fort Worth, Texas Asset Protection Attorney + CPA

To discuss your asset protection matters in confidence with an experienced tax and estate planning attorney who is also a CPA, schedule a confidential consultation with Mr.
Bernstien by calling (214) 706-0837, or fill out our intake form and we will contact you.

Take advantage of our knowledge, skill, experience and connections. Call today.

We are available 24/7 for your convenience. After hours, call (214) 616-5320 (cell). As an attorney. Mr. Bernstien understands legal issues do not
arise on a schedule, and he does his best to be available when you need him. All calls will be promptly returned
if Mr. Bernstien is in Tax Court, at the IRS, in a client meeting or otherwise indisposed.

Please note that other attorneys may be retained to assist on certain matters and some matters may be referred to another law firm.

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Frequently Asked Questions About Asset Protection

Find answers to common questions about our services

What is asset protection planning?
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Asset protection planning is the legal practice of structuring your assets and business interests in advance so that they are less vulnerable to creditors, lawsuits, or judgments. The goal is not to hide assets — that is fraud and illegal — but to use legitimate legal tools such as trusts, limited partnerships, and business entity structures to create barriers between your personal wealth and potential claims. Asset protection works best when implemented proactively, before any dispute arises.

Can creditors take my personal assets if my business is sued?
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It depends on your business structure and how it has been maintained. Corporations and LLCs generally provide liability protection, meaning creditors of the business cannot automatically reach the owner’s personal assets. However, this protection can be lost if the business is not properly maintained — for example, if personal and business finances are commingled, required formalities are not followed, or if a personal guarantee has been given. We review your situation and help ensure your structures actually provide the protection you expect

What structures are used for asset protection?
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Common tools include limited liability companies (LLCs), limited partnerships, family limited partnerships (FLPs), domestic asset protection trusts (DAPTs), and irrevocable trusts. Each has different characteristics and suitability depending on the type of assets, the creditor risks involved, and the client’s overall financial and estate planning picture. The right structure varies and should be designed by an attorney with experience in both asset protection and tax law.

Is it too late to set up asset protection after a lawsuit has been filed?
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Transfers made after a claim has arisen — or with intent to defraud a creditor — can be reversed under fraudulent transfer laws. This is why asset protection must be implemented well before any dispute. That said, even after a lawsuit has been filed, there may still be steps available to protect assets that are not yet subject to the claim. The earlier you consult with an attorney, the more options exist.

Is asset protection the same as estate planning?
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They overlap but are not the same. Estate planning focuses on how your assets are transferred at death and the tax efficiency of that transfer. Asset protection focuses on shielding assets from creditors and lawsuits during your lifetime. The best plans address both — protecting assets while you are alive and transferring them efficiently when you are not. Bruce Bernstien handles both, which allows your overall plan to be designed as a coherent whole

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