Asset Protection

Choose from one of our asset protection topics listed below:

Asset Protection Basics

Asset protection is a process of protecting estate assets against attack by creditors. A well-designed asset protection plan builds a protective fort around the client's estate and guards family wealth from external creditor attack. Asset protection works... Continue reading

Who Needs Asset Protection?

Everyone who has been fortunate enough to accumulate assets in today's economy needs some form of asset protection. In the United States there are more than one million lawyers, each with a license to file lawsuits against deep-pocket defendants by paying... Continue reading

Does Asset Protection Work?

Many people question whether even the most complicated and sophisticated asset protection plan actually defeats creditor’s claims, especially where the asset protection plan is designed and implemented close to a judgment being entered or a lawsuit being... Continue reading

Mistakes in Asset Protection Planning

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Florida Asset Protection

Asset protection laws are different in each state. Florida's asset protection laws are among the most liberal, debtor-friendly laws in the country. Florida's asset protection laws apply to permanent residents of Florida and people in other states who own real... Continue reading

Moving to Florida

Many people from all over the country who have current or potential legal problems are interested in moving to Florida to take advantage of Florida's homestead protection and other asset protection laws. It is never too late to move to Florida to obtain... Continue reading

Florida Residency

Only Florida residents may take advantage of Florida’s liberal asset protection laws. Whether or not you qualify as a Florida resident depends on whether your circumstances and your actions demonstrate your intent to establish a Florida domicile. Your... Continue reading

Homestead Protection

In Florida, our home is truly our castle, a castle that is impenetrable by creditors. Article X, Section 4 of the Florida Constitution exempts homestead property from levy and execution by judgment creditors. This means that a creditor cannot force the... Continue reading

Statutory Exemptions

Much asset protection benefits for Florida residents are contained within Florida Statutes. These exemptions are available only to people who permanently reside in Florida. Salary or Wages Wages, earnings, or compensation of the head-of-household which... Continue reading

Tenants By Entireties

What Is Tenants By Entireties Ownership? Most married persons own property as joint tenants with rights of survivorship. Upon the death of one spouse, ownership is vested by operation of law in the surviving spouse. Many married people incorrectly believe... Continue reading

Florida's New Trust Law

The Florida legislature enacted an important new trust statute during the 2006 legislative session. The new Florida Trust Code, found primarily in Chapter 736, Florida Statutes,  became effective on July 1, 2007. Except as specifically provided, the new... Continue reading

ITF Accounts and Gifts

A properly designed gift-giving plan can help minimize estate and income taxes, and also it can remove property from the reach of the parents’ creditors. Lifetime gifts to children reduce the size of the parents’ taxable estate and thereby reduce the amount... Continue reading

Family Limited Partnership and LLC

There are two asset protection tools which have substantial benefits for estate planning as well as asset protection. These tools are the limited partnership (LP) and the limited liability company (LLC). Limited partnerships are created and administered... Continue reading

Charging Lien Protection

A limited partnership and a multi-member limited liability company offer similar asset protection. Based upon a June 2010 Florida Supreme Court ruling in the Olmstead case, Florida law does not extend the same asset protection benefits to a single-member LLC.... Continue reading

Single Member LLC

Several years ago Florida enacted amendments to its limited partnership statutes which, among other things, affirmed that a charging lien is a creditor's exclusive remedy against a debtor's limited partnership interest, and more particularly, the amended statute... Continue reading

How To Form A Limited Partnership and LLC

The first step in creating an FLP or LLC is the preparation and filing of an application with the Secretary of State. An applicant files a Certificate of Limited Partnership to form a new limited partnership or Articles of Organization to form a limited liability... Continue reading

Where To File Partnership and LLC

Formation of LLCs and limited partnerships in states outside Florida, such as Nevada and Wyoming, is widely promoted on the internet. The promised benefit of forming a partnership in a state other than Florida (a "foreign state") is that foreign state partnership... Continue reading

Funding Partnership and LLC's

A family partnership or LLC work for asset protection or tax planning only if you transfer assets from your name into the name of the entity. Transfer of assets into a partnership, or other entity, is often referred to as “funding” the entity. Partnership... Continue reading

Presentation At National LLC Seminar

You are welcome to view my presentation at a national seminar on limited liability company formation and planning presented May 23, 2014,  my Mylawcle.com. &amp;amp;amp;lt;img class="mceItemMedia mceItemFlash" src="http://www.alperlaw.com/wp-includes/js/tinymce/themes/advanced/img/trans.gif"... Continue reading

Offshore Planning

Popularity Of Offshore Asset Protection Many people first think of offshore planning when they consider asset protection planning. Offshore planning is a well-publicized method of asset protection. Many books have been published and many websites constructed... Continue reading

Offshore Trusts

The best known legal tool involved in offshore planning is the offshore asset protection trust which otherwise resembles a typical U.S. trust. The offshore trust is a “self-settled trust” where the settlor and the beneficiary are one and the same. In an... Continue reading

Nevis LLCs

Limited Liability Companies A Florida limited liability company (LLC) is a popular business planning tool. Many lawyers use the LLC as an alternative to Subchapter S corporations as the preferred legal entity for new businesses. Asset protection attorneys... Continue reading

IRS Reporting Requirements

Tax Reporting For Offshore Asset Protection Entities Any type of offshore asset protection is complicated, in part, because of IRS reporting requirements applicable to foreign entities. People considering offshore asset protection should consult with a tax... Continue reading

Financial Asset Protection

Effective Florida asset protection can involve financial tools and planning in addition to, or in place of, legal tools. Many financial products provide Florida residents asset protection in additional to financial planning and retirement benefits. Three such... Continue reading

Annuities

Annuities are protected from judgment creditors. There are financial tools that combine asset protection of annuties with sound financial planning. One such tool is annuity arbitrage. Annuity arbitrage is a financing tool which enables older debtors in good... Continue reading

Life Insurance

Cash value life insurance on the life of a Florida debtor is exempt from creditors. Non-recourse life insurance is a creative financial tool which incorporates life insurance policies financed by third-party investors whereby the insured benefits from cost-free,... Continue reading

Leveraged Accounts Receivable

Accounts receivable are often a business’s largest liquid asset and are also an attractive target of creditors of either the business or its individual owner. A creditor can garnish accounts receivable before they are paid or the creditor can wait until... Continue reading

Domestic Asset Protection Tools

Asset protection is an evolving and creative area of law. State legislatures are enacting new asset protection laws in an attempt to attract investment capital from people looking for legal tools to protect money from creditors. Creative attorneys are working... Continue reading

Delaware Series LLC

What Is A Series Limited Liability Company? Many corporations own and operate more than one business, and likewise, many individual real estate investors own multiple properties legally titled under a single name or business entity.  A problem with "single-pot"... Continue reading

Domestic Asset Protection Trust

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Equity Stripping

"Equity stripping" is a relatively new term in asset protection law describing an old asset protection planning technique.  Equity stripping refers to pledging a non-exempt asset as security for a money loan.  In most cases, the debtor obtains a loan from... Continue reading

Fraudulent Transfers

Fraudulent transfers are transfers of non-exempt asset to another person or entity to protect the asset from creditors or to deter and impede creditors execution on the asset. A fraudulent conversion is the use of non-exempt asset to purchase or obtain an... Continue reading

Fraudulent Transfer Law

Fraudulent Conveyances What are fraudulent transfers and conversions? The most important issue in any asset protection plan is whether or not previous planning transactions constitute fraudulent transfers or fraudulent conversions (collectively, “fraudulent... Continue reading

Liability for Fraudulent Transfers

Attorney Liability & Debtor Liability Most debtors and their attorneys are concerned about potential personal liability for asset protection planning. Most of the concern relates to prospective transfers and planning which could be deemed to be fraudulent... Continue reading

Attorney Liability

Many attorneys are reticent about asset protection work because they fear exposing themselves to personal liability for assisting their clients’ transfer of assets to avoid exposure creditor claims. Florida’s fraudulent conveyance statutes do not specifically... Continue reading

Debtor Liability

Debtor Liability - Can Asset Protection Get You In Trouble Any creditor can attack the implementation of an asset protection plan by alleging that certain transfers of your assets to other people or entities or the investment of money in exempt assets (such... Continue reading

Speech At Florida Bar Seminar

At the Florida Bar's Annual Wealth Protection Seminar on May 16, 2013, in Miami Florida, attorney Jonathan Alper presented, "Where Does Florida Law Stand on Fraudulent Transfers?" The following is an edited transcript of his presentation: ________________________________________________________________________ My... Continue reading

Creditors Collection Tools

HOW CREDITORS COLLECT JUDGMENTS Effective asset protection planning requires understanding of what creditors may do and what tools they may use to discover and apply non-exempt assets to satisfy judgments. Obtaining a final judgment by itself does not... Continue reading

How Creditors Collect Judgments

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Proceedings Supplementary to Execution

If a creditor cannot satisfy his judgment through garnishment, attachments and some other legal tools pursuant to a writ of execution the creditor may initiate proceedings supplementary to execution pursuant to Florida Statute 56.29. Proceeding supplementary... Continue reading

Writ of Garnishment

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Wage Garnishment in Florida

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How Creditors Find Assets

In today’s world there are fewer and fewer secrets. It is more difficult than ever before to hide information about yourself including facts about your assets. Technological advances and social media have made it easier than ever before for your adversaries... Continue reading

Fact Information Sheet

In most cases the first thing a creditor will do to collect a judgment is require the debtor to complete a financial statement. The Rules of Civil Procedure include a standard financial disclosure form called a “Fact Information Sheet” Upon the award of... Continue reading

Discovery Procedures

A creditor can use all of the discovery tools made available to parties in general litigation. These discovery tools are set forth in the Florida Rules of Civil Procedure. In addition to the Fact Information Sheet, the creditor may employ all other discovery... Continue reading

Informal Discovery

Creditors have many sources of information about your assets without having to resort to formal collection remedies. Voluntary Disclosures Many civil money judgments related to commercial loan defaults. Whenever and individual borrows money to start... Continue reading

Florida Head of Household Exemption

Florida statutes provide an exemption from garnishment of earnings payable to a head of household whether denominated as wages, salary, commission, or bonus. For a debtor to qualify as a head of household he must provide more than half of the financial support... Continue reading

Mortgage Foreclosure Deficiency Judgment

What Is A Mortgage Deficiency Judgment? After several years of real estate depreciation many Florida homeowners and real estate investors find themselves owning property worth less than their mortgage balance. Although they accept loss of equity, if any,... Continue reading

Defending Mortgage Foreclosure

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Business Asset Protection

Use of Business Entities To Operate Florida Businesses A basic Florida  asset protection strategy for business owners is to operate a business in a separate legal entity instead of an individual sole proprietorship. The main business entities include corporations,... Continue reading

Piercing The Corporate Veil

Piercing The Corporate Veil Corporations and limited liability companies are designed to shield the assets of their individual owners. Public policy favors individuals investing money and taking risk to start a new businesses. New business is encourage because... Continue reading

Special Purpose Entities

Special Purpose Business Entities For Asset Protection The core of any successful business is its ongoing operations including its manufacturing or goods or provision of services to its customers,  its financial dealings with lenders and suppliers, and its... Continue reading

Bitcoin Asset Protection

Bitcoins are a virtual currency that expresses a person’s wealth though a digital code on an online ledger. Bitcoin ownership and transfers are anonymous. Bitcoin law makes it very difficult for a creditor to discover or levy upon a debtor’s Bitcoin assets.... Continue reading

Bitcoin Law Basics

WHAT IS BITCOIN VIRTUAL CURRENCY? Virtual currency, including its best-known Bitcoin, is a new and growing method of value exchange. Presently, Bitcoin is the preeminent virtual currency although entrepreneurs are trying to develop improved alternative... Continue reading

Bitcoin Asset Protection

Bitcoin and subsequent virtual currency products may become  popular asset protection planning tools because of the anonymity of ownership. People can exchange dollars for Bitcoin through exchanges which can be either domestic or overseas. Technically, each... Continue reading

Jon Alper

About Jon Alper

Jon is an attorney focusing on bankruptcy and asset protection in Orlando, Florida.