My friend David J. Willis, J.D, LL.M., wrote a fantastic book called: “Real Estate Law & Asset Protection for Texas Real Estate Investors.” I love this book because I often get calls from people that are looking for the right kind of business entity to: (1) use a liability barrier to minimize personal exposure and maximize asset protection; (2) organize and manage one or more business; and (3) utilize tax benefits. This book covers those issues and more.
Since I have represented injured plaintiffs in wrongful death cases and premise liability cases, I often investigate the assets of a potential defendant, especially if insurance is not involved. A wise investor or person will use a liability barrier to minimize personal exposure. Sometimes a defendant or potential defendant will find himself opposite of a premise liability claim with no insurance. For example, this might involve an injury or death resulting from a swimming pool accident in Texas. I have seen it happen. I defended that property owner in that wrongful death case. He owned several real estate properties, all in his name alone, and not in the name of a Limited Liability Company. That is just too risky. A judgment against that defendant could have resulted in the plaintiffs targeting those real estate assets to satisfy the judgment.
David’s book goes well beyond the single issue described above. He covers the subjects and the details pertaining to: (1) Contracts & Closing; (2) Ownership & Transfer of Texas Real Estate; (3) Noteworthy State and Federal Law; (4) Creative Transactions; (5) Asset Protection Structuring; (6) Asset Protection Strategies; (7) Evictions, Foreclosures & Litigation.
The book: “Real Estate Law & Asset Protection for Texas Real Estate Investors” can be found online at Amazon.com and Barnes & Noble online.
– Article By Richard Weaver