Seminole Asset Protection Attorney
When it comes to protecting your wealth, you need to be proactive. The worst thing that you can do is wait until there is a sudden crisis or emergency to act. To avoid such outcomes, you therefore need to have a comprehensive asset protection strategy in place.
Asset protection is not about “hiding” what you have. It is about using all available legal tools to protect the property you have spent a lifetime earning. Our Seminole asset protection attorney can help you in using these tools. Knudsen Law is a full-service Florida estate and probate firm that assists clients in using trusts and other asset protection strategies to ensure they can both enjoy what they have now while preserving wealth for future generations.
What Florida Asset Protection Strategies Can Benefit You?
In broad terms, asset protection has two major goals: (1) shielding assets from potential creditor claims, and (2) minimizing any taxes that may be levied on the assets or their income. While asset protection is often associated with high net-worth individuals looking to preserve generational wealth, in truth anyone can benefit from asset protection. Whether you are looking to keep your house within the family or ensure that your business will continue after your death, asset protection is often the key.
Here are just a few examples of how our Seminole asset protection attorney can help you:
- Trusts: There are a number of irrevocable trusts that can shield assets from creditor claims. Such trusts transfer legal title over assets from you, as the original owner, to a trustee. When properly structured, a creditor cannot seek to enforce a debt against you from the trust.
- Business Entities: If you run your own business, it is critical that you establish a separate legal entity, such as a corporation or limited liability company. This helps protect your personal assets against claims from any business creditors.
- Insurance: One of the oldest, and most useful, ways of protecting your assets is simply to have adequate insurance. This not only includes taking out life insurance on yourself, but also making sure your property, business, and other assets carry sufficient insurance to cover accidental losses.
- Homestead: Florida has some of the strongest legal protections in the country for a person’s primary residence. Your homestead is protected against most creditor claims. That protection also covers your spouse and any minor children after your death.
- Estate Planning: Having a power of attorney can ensure that someone you trust is in charge of managing your assets and wealth in the event of your incapacity.
Reach Out to a Seminole Asset Protection Lawyer
As you can see, asset protection is not a single act or legal document. It is a comprehensive plan that requires careful examination of your current financial picture. Our Seminole asset protection attorney will be happy to sit down with you, review your situation, and discuss your needs in this area. Contact Knudsen Law today at (727) 398-3600 to schedule a consultation.
