Asset Protection

WHAT YOU DON’T KNOW CAN HURT YOUR FAMILY – DON’T WAIT UNTIL IT’S TOO LATE

Here’s the big picture: “Don’t run with scissors.” Everyone has heard this saying before. If you’re like me in kindergarten, you probably heard it more than once. Its message is simple, and it’s relevant to you because you probably own a lot of assets or “Property”. As you know from the Probate video, the term “Property” includes everything you can possibly own, now and in the future. Some of these assets have the potential to harm someone or something in some way, either actively or passively. Unfortunately, if that happens, you’re probably on the hook unless you planned ahead. Forming a business entity, such as a LLC, LP, LLP or corporation, even an irrevocable trust, does limit your personal liability in some ways, but leaves you extremely vulnerable in other ways. If you knee-jerked into an S-Corporation because your accountant thought it was a good idea, you should be very afraid because you’re holding giant scissors and running in the dark. S-corporations and certain LLCs can be taken away from you very quickly and easily.

Fortunately, you can protect yourself, your family, your business and your assets. Asset protection planning involves taking advantage of debtor friendly laws, especially in Florida, in order to minimize your exposure to personal liability. I’m talking about maximizing your use of assets that are deemed “off limits” to creditors. It also includes covering all your bases, such that you and your properties are both isolated and insulated from each other. An effective plan also requires using the combination of several business entities and trusts. Because you may be covered by your insurance, I’m pleased to share with you that asset protection planning is NOT necessary for everyone. But if you’re serious about protecting your assets, you need an asset protection plan.

 

THINK DEFENSIVELY – REMEMBER, THE BEST DEFENSE IS A GOOD OFFENSE

We can communicate your issues and options without the legalese and colorful technical language. You work hard for your money and property and there’s a lot of people that will take it away from you if given the opportunity. We help you protect your hard-earned assets from lawyers, creditors, foreclosure deficiencies, former or current spouses, children, relatives, and people searching for deep pockets. You need to think and act defensively to protect your family and your family’s assets. Utilize proven strategies to shelter and shield the assets of your family and business.

 

Please understand that it is important to protect yourself before you get sued, and even before you have reason to believe you may get sued. For this reason, advanced planning is important so its’ critical to start planning now. Like insurance, asset protection planning after-the-fact does you no good. Invest in defense!

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