Asset Protection Attorney

What does it take for you to lose what you've worked so hard to build?... Creditors? A sympathetic jury? A lawsuit-opportunist? Your spouse's divorce attorney? A malpractice claim? Foreclosure deficiency? A greedy child or relative? An asset protection attorney can undoubtedly share with you all the probabilities and outcomes that could place you at risk of losing everything. Most importantly, a good asset protection attorney can advise you as to the best defense plan to protect yourself and your family and help you shelter your assets before finding yourself in an unprepared self-defense mode.

The truth is, we live in a lawsuit-excessive world where protecting our money has become as important as making it. The fact is that there are simple things that you might be doing right now that might lead to a lawsuit filed against you. There are also actions you can take right now to protect your family, your business, your personal assets, your children's inheritance, your practice, and even your clients and business partners.

Many assets in Florida are exempt by Florida statutes such as individual retirement accounts, pensions, head of household wages, disability benefits, annuities, life insurance's cash value, profit sharing plans, and even homestead (primary residence) with a limit to the lot size. However, many assets are not exempt in a lawsuit including secondary real estate, personal bank accounts, stocks, certificates of deposit, bonds, and other accumulated wealth.

An attorney will analyze your situation and assets and discuss the best course of action and recommend any organizational planning. An asset protection attorney will draft a plan that not only shields your assets, but also considers implications emanating from the plan such as income tax, gift tax, and estate tax consequences.

Consider early planning for asset protection as the safety instructions cards that you are asked to review when you board an airplane. Your flight attendant shows you the exits, what actions to take, how to adjust your oxygen mask, and how to prepare for an emergency landing. This knowledge places you into a proactive position in case of an emergency. If you wait until you are actually sued or your assets are at risk it will be too late, as courts will often reverse actions taken to protect assets once they are at risk and deem such transfers to be fraudulent conveyances. Early planning is always the best defense.