ESTATE PLANNING LAW
ASSET PROTECTION PLANNING
YOU'VE WORKED HARD FOR YOUR WEALTH. PROTECT IT.
There is a gambling saying that goes something like this, “If you want to be a winner, you have to walk away from the table a winner.”
One time-honored method of reaching this result is to systematically take your chips off the table as you win them so that your potential for losses stays small.
Asset protection planning is all about taking chips off the table in good times, so that you still can walk away from the table a winner no matter what happens in bad times. Those who worry the most about asset protection are those who are the most likely to get sued – think obstetricians and, more recently, real estate investors. However, any of us can get caught up in a difficult situation.
PROTECT YOUR ASSETS
If you have something to protect, then the topic of asset protection should at least cross your mind.
Technically, asset protection planning is the debtor’s side of creditor-debtor law. While creditors are concerned about the strategies and techniques of collection, debtors are interested in the strategies and techniques for protecting their most valuable assets from potential creditors. In this calculation, it is not just about protecting assets but also about making sure that one does not end up in jail for contempt or bankruptcy fraud for engaging in the process.
There is no standard formula for asset protection planning. However, there are some very important guidelines:
Asset protection planning requires careful thought, commitment, and a balanced team approach to protecting you and yours from the risks associated with business and personal living. We can help you protect what you have to help you assure your better legacy.
Your better legacy depends upon the accuracy and completeness of your estate plan
Contact us today to talk to a Florida Bar board certified specialist who has the expertise to help you plan your estate.