His wife, Michele, is an attorney at Burford & Ryburn LLP.
He owns stock in a number of energy companies (XTO Energy, Crosstex Energy, Exxon Mobil, BP), construction companies (Caterpillar, Home Depot), telecommunication companies (AT&T, Verizon) and food companies (Dr Pepper Group, Del Monte).
Residence in Dallas valued at $254,550
Sheets, an attorney, was an author of HB 274, a tort reform bill that passed in 2011. The bill is known as "loser pays" because it passed the costs of lawsuits deemed frivoulous along to the plaintiff in an effort to discourage such suits.