Family Legacy Planning

A Total Asset Protection Approach

Our Family Legacy Planning focuses on protecting your assets from creditors, predators, lawsuits, judgments, liens, greedy relatives, and the costs of long-term care.

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Asset Protection Planning is protecting your valuable assets from anything or anyone who can take them.

We Focus on Five Areas of Asset Protection.

Lawsuits

Negligence lawsuits arise when you cause harm or injury to a person or property.  It is accidental, not intentional.  But, the liability is real.  Being sued for causing an auto accident is an excellent example of a negligence lawsuit.  You have to plan early to protect your assets from liability for a judgment arising from a negligence lawsuit.

Taxes

The IRS is your #1 guaranteed creditor.  Every year you pay taxes to this creditor.  If you have money invested in a brokerage account or real estate you plan to sell, you will have to pay short-term and long-term capital gains taxes.  Focusing only on reducing this year’s taxes is a flawed approach to planning.  Asset protection planning includes good retirement planning that saves you taxes.

Stock Market Crashes

If you have qualified money in the stock market, you need to protect yourself against market crashes.  Three times between 2000 and 2020, the stock market has lost between 30% and 50% of its value.  Asset protect planning includes making sure you don’t lose money in the stock market.

Long-Term Care

If you are over 65 years of age, there is a 50% chance you will have significant long-term care expenses before you die.  These long-term care expenses include drug costs, home health care, nursing home costs, surgeries, etc.  To make sure you don’t run out of money during your retirement, you need to protect your assets against LTC expenses.

Probate Costs & Delays

Probate is the legal process in which a court oversees your estate’s distribution according to the terms of your Will.  It is a public process.  Anyone can see what you own, what you owe, and who is getting your assets.  It is also a time-consuming and expensive process for your heirs.  Asset protection planning includes protecting your estate from the expense and delay of Probate.

Our Free Legal Books

Common Estate Planning Mistakes People Make & How You Can Avoid Them

In this book, attorney Harvey L. Cox discusses fifteen of the most common estate planning mistakes he sees people making on a regular basis.

The Truth About Estate Planning in Texas

This book contains essential information for effectively planning your estate in Texas.  To combat the massive amounts of misinformation  being disseminated today, this  book gives you the truth you need to avoid mistakes in your estate planning.

Satisfied Client Feedback

Douglas

– Client

Harvey is outstanding in his knowledge. His advice was golden and after the meeting he showed me that my problem was nothing to be concerned about. Anyone needing expert legal advice would be fortunate to get acquainted with him.

Office Information

1600 Lake Air Drive, Suite 102
Waco, Texas 76710
(254) 233-7300
harvey@harveylcox.com

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