Asset Protection

Florida’s asset protection laws are among the most liberal, debtor-friendly laws in the country. Our office provides asset protection advice and consultation to clients, in which we discuss which personal and business assets are currently protected from creditors and which are not. We also advise how to to better protect the assets that are not currently protected. Learn more about Florida asset protection from one of the topics below.

Florida Asset Protection: Florida’s asset protection laws apply to permanent residents of Florida and people in other states who own property in Florida. People anticipating substantial civil judgments often move from other states to Florida to become a Florida resident for asset protection purposes.

Top Ten Asset Protection Strategies: Using the best asset protection strategies in Florida can help shield your assets from potential judgment creditors. Each person’s asset protection plan is based upon their particular facts and legal situation. Still, there are ten asset protection strategies that are the basis of most asset protection plans for Florida residents.

Florida Residency: 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. What do you need to do to become a Florida resident?

Top 10 Asset Protection Mistakes: What are some of the most common mistakes that people make when planning to protect their assets in Florida?

Homestead Exemption: In Florida, our home is truly our castle, one that is impenetrable by creditors. What does it take to establish Florida homestead and what exactly does it protect?

Statutory Exemptions: Several asset protection benefits for Florida residents are contained within Florida Statutes. What exemptions are these and when do they apply?

Tenants by the Entireties: Florida has a special form of ownership for property owned by married spouses. What does this form of ownership do and how can you get it? What makes is so effective against creditors?

ITF Accounts and Gifts: A properly designed gift-giving plan can help minimize estate and income taxes as well as remove property from the reach of the parents’ creditors. What are some of the key features of these plans and how can you set them up?

Family Limited Partnerships and the 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).

Offshore Planning: In practice, offshore asset protection most often is not the best asset protection tool for Florida residents. Most Florida residents are able to adequately protect themselves using the many exemptions provided by Florida law.

Offshore Trusts: A “self-settled trust,” the best known legal tool in offshore planning.

Nevis LLCs: LLCs created in a foreign jurisdiction with favorable LLC laws.

Financial Asset Protection: Effective Florida asset protection can involve financial tools and planning in addition to, or in place of, legal tools.

Domestic Asset Protection Tools: These tools include, for example, the Delaware Series LLC, Domestic Asset Protection Trusts, and Equity Stripping.

Fraudulent Transfers: The most important issue in any asset protection plan is whether or not transfer of assets constitutes fraudulent transfers or fraudulent conversions (collectively, “fraudulent conveyance”) as defined and regulated by Chapter 726, Florida Statutes.

Fraudulent Transfer Liability: The extent of attorney and debtor liability for fraudulent transfers under Florida law.

Fraudulent Transfer Seminar: Presentation by Jonathan Alper to the Florida Bar  about where Florida law  stands on fraudulent transfers.

Business Asset Protection: A basic Florida asset protection strategy for business owners is to operate a business in a separate legal entity instead of as a sole proprietorship.

Creditor Collection Methods: Effective asset protection planning requires an understanding of what creditors may do and what tools they may use to discover and apply non-exempt assets to satisfy judgments.

Writ of Garnishment: A writ of garnishment allows a creditor to seize money owed to the debtor by third parties.

Wage Garnishment: The tool creditors use to attack money owed to the judgment debtor in the form of wages.

Head of Household Exemption: One of the most common exemptions to garnishment of wages.

Fact Information Sheet: A form that creditors issue to a judgment debtor to obtain personal information and a financial statement.

Deficiency Judgment: What to do about this mortgage lender’s judgment against a borrower for the difference between the outstanding balance of the mortgage note and the value of the property foreclosed.

Federal Agency Collection: How Federal Agencies can collect on judgments against businesses and individuals.


What to Do Next

We help individuals and businesses develop and implement a customized asset protection plan to protect your wealth from creditor collection.
Alper Law
Alper Law
Asset Protection