TEXAS REAL ESTATE LAW – ASSET PROTECTION & ANONYMITY –
TEXAS & NEVADA SERIES LLC´s – LAND TRUSTS & LIVING TRUSTS
This website is a service of DAVID J. WILLIS ATTORNEY AND REAL ESTATE BROKER, a Texas law firm established in Houston in 1980. Its purpose is to provide high-quality online legal services relating to Texas real estate law (residential and commercial) and asset protection law (utilizing Texas Series LLCs, Nevada Series LLCs, land trusts, and living trusts). We provide documents and services to investors, landlords, lenders, builders, and brokers – anyone who owns, buys, or sells residential or commercial real estate in Texas.
New clients are accepted solely online at Contact Us. Our clients are investors and businesspersons from Singapore to El Salvador to San Antonio to Spain, so we find ourselves operating in nearly all time zones. Accordingly, emails are given absolute priority over phone calls and are answered promptly.
Rendering quality legal services online 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 may wish to seek the services of a traditional low tech law firm. We understand, but that is just not us. Inquire – we may be able to recommend a qualified attorney in your area.
REAL ESTATE LAW PLUS ASSET PROTECTION
David J. Willis is a double board-certified Texas lawyer providing comprehensive representation in Texas transactions and litigation relating to Texas real estate law and asset protection. The range of our services is reflected in our articles (in the column to the left) which offer in-depth legal analysis that could cost thousands of dollars at a downtown law firm. This information is available to you at no charge and is our equivalent of a free consultation.
We specialize in a sophisticated combination of real estate law and asset protection law. Because of our unique expertise and online capability we are able to create asset protection structures for clients around the world.
UNIQUE ONLINE SERVICES
Routine services ranging from the initial consultation to company formation are rendered online only. Office appointments are available in complex matters but incur significantly higher fees. This is the process we ask all new clients to follow:
(1) Read our article pertaining to your legal issue to gain practical knowledge of applicable law and then email us with your inquiry.
(2) You will receive a prompt response with preliminary comments (not a full consult) and confirmation that we handle your type of case.
(3) If you choose, a detailed paid consultation follows. We will need to see any relevant documents concerning the case, so email or fax them to (832) 201-5321.
(4) We then review your circumstances and discuss the case until legal advice and guidance are substantially complete.
(5) Reasonable follow-up questions and doc changes within the immediate time frame are included.
Please follow our process (including instructions at Make Payment ) and you will receive draft documents or other requested action within 24 to 48 business hours – often sooner. LLC formation documents go out the same day. We know of no other firm that is faster or more efficient.
FEES AND COSTS
Our fees are generally quoted as flat fees priced per specific item excluding any costs such as filing fees. We strive to be completely transparent as to fees and costs. Go to Fees & Policies for details as well as policies that apply to all clients in place of written fee agreements or engagement letters. Entry-level services include:
Consultation on Real Estate Law. $150 for residential matters and $250 for commercial matters. We need to see all your paperwork to effectively advise you! Documents and correspondence pertaining to your case should be emailed or faxed to (832) 201-5321.
Asset Protection Review ("APR"). The APR is a comprehensive analysis of your circumstances with recommendations for a suitable asset protection structure. The fee is $250 and is applied to the fee for forming an LLC if action is taken within 10 days.
Payment is by credit/debit, direct deposit, wire, or overnighted check and can be processed at Make Payment. We welcome clients who are prepared for both the cost and quality of our unique and specialized services. In other words, this is not a discount firm or website.
Our basic rules: (1) We offer no free consultations or services of any kind; (2) we do negotiate fees; (3) we are unable to download and read your documents, create a file for you, place your case on a court docket, prepare or ship documents, or provide any substantial legal advice or services until payment is made; and (4) although we honor the confidentiality of all inquiries, no attorney-client relationship is created until we accept a case and fees are paid.
ASSET PROTECTION LAW – TEXAS LLC AND NEVADA LLC FORMATION
Our firm uses Texas Series LLC´s and Nevada Series LLC´s (or a combination of the two) to achieve asset protection including anonymity, deterrence of lawsuits, and insulation from judgments. We recommend the new Series LLC (available in Texas and Nevada) which compartmentalizes assets and liabilities allowing the same company to safely hold multiple properties or businesses. To date, we have formed more Series LLC's than any other law firm in Texas.
The goals of our asset protection program are simplicity, economy, and effectiveness. Many clients have come to us with a dozen or more entities of various types woven together in complex and confusing ways. Often we can reduce these structures down to two independent LLC´s – a shell management company and a Series LLC holding company for hard assets – supplemented by a living trust for the homestead.
LLC FORMATION AND SALES OF EXISTING COMPANIES
LLC Formation. Asset protection planning and instructions are included in our $750 fee (plus costs) for a Texas LLC or Nevada LLC (whether a traditional or Series LLC) as are follow-up questions after the company is established. The fee for our proprietary "anonymity company" (utilizing a trust) is $1,500 plus costs. Current costs for Texas are $435, for Nevada $290. Both include expedited handling at the Secretary of State. EIN and registered agent services are not included. See Fees & Policies for details and optional add-on items.
Shelf Companies. We have a limited inventory of established (but never used) companies that have been custom-designed with unique anonymity and asset protection features that include first-class company documentation, upgraded leatherette books, EIN´s, assumed name certificates, and bank accounts. These premium LLC´s represent our best work and are ready for immediate overnight shipment to the client. Fees are substantially higher. Go to shelf companies.
OUR RECOMMENDED ASSET PROTECTION PROGRAM
Our article Asset Protection in Texas suggests the following strategies:
LEVEL 1: Basic Asset Protection for Investors (the Texas Series LLC or Nevada 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 listed 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 that owns hard assets has no business dealings (no legal "privity") with anyone and is therefore nearly impossible to successfully sue; the shell management company, if sued, is a dead-end for creditors; and, as to the homestead, protections are maximized and probate is usually eliminated.
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 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. For more on our professional approach read our firm philosophy.
COMPARISON TO OTHER ONLINE LEGAL SERVICES
We are occasionally compared to Legalzoom, investor "guru sites," and other online sources. We are not enthusiastic about this comparison since such sites supply only basic fill-in-the-blank forms not designed to comply specifically with Texas law. We spend considerable time re-writing internet junk that has caused more harm than benefit to our clients. It is often more expensive to do this than if the documents had been done correctly in the first place.
By contrast, no standard forms are filled out here. We are on the creative cutting edge when it comes to the intersection of real estate law and asset protection.
AREAS SERVED
LoneStarLandLaw serves 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 serving Houston, The Woodlands, Dallas, Fort Worth, Austin, San Antonio, and El Paso. He is also a Texas asset protection attorney for anyone who owns real estate in Texas and is considering forming a Texas Series LLC or a Nevada Series LLC as part of an asset protection plan.
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