Know your risk, save your land.
Today’s owner of rural land has many potential risks to consider. As friends, family, and strangers enjoy country getaways for hunting, swimming, and off-road adventures, you could be putting yourself and your guests at risk. Owning your land in your own name could expose your property to creditor’s claims brought about by bad business debt, a medical emergency, a negligent injury to others, a divorce, bankruptcy, or numerous other personal or business crises. Without proper precautions and smart risk management in place, you could be risking a forced liquidation of family land or loss of other major assets. Braun & Gresham can help manage the risk of losing your assets, even your land, with risk evaluations, recommended policies and procedures, and strategic legal protections. To claim your rights, you must first know your risk.
Protect Your Assets
To avoid the liability associated with unintended accidents or unresolved debts, every landowner should have a comprehensive risk management program in place. A risk management program enables landowners to identify and assess problems, and to reduce the probability and exposure to risks specific to their land use. In addition, having a risk management program in place allows for a landowner to feel more comfortable with inviting guests on to her property and decreases the likelihood of an accident or injury on the land. It can also protect your land from other personal and business creditors.
The Braun & Gresham Comprehensive Risk Management Program
Unfortunately, there’s no silver bullet for protecting your assets. You have to build a wall against liability, one brick at a time. There are statutory protections for landowners, but there are certain actions that you must take to reap the full benefits of the law. Having a strong risk management program in place is the best way protect yourself.
The following is a list of key mechanisms we use at Braun & Gresham to minimize risk and to protect our clients and their assets, especially their rural land (the “Ranch”):
- CREATION AND MAINTENANCE OF A BUSINESS ENTITY
- QUALIFYING FOR STATUTORY PROTECTIONS
- QUALIFYING UNDER TEXAS HOMESTEAD LAW
- DEVELOPING WAIVERS
- PROVIDING SIGNAGE
- DEVELOPING LEASE AGREEMENTS
- TRAINING INSTRUCTION PRACTICES AND PROTOCOLS
- REVIEW OF FEES CHARGED IN OPERATIONS
- INSURANCE REVIEW
- IDENTIFYING AND MITIGATING POTENTIAL HAZARDS
- INSPECTION RECOMMENDATIONS
Not every landowner may need all of these tools, but a free 30-minute initial consultation with one of our attorneys should allow us to begin matching your needs with the appropriate legal mechanism(s). The peace of mind a well developed risk management program can bring you, and the numerous problems that it can solve is usually worth the effort and cost to protect your precious land.