Do You Have an Effective Asset Protection Plan in Fort Lauderdale?
You have worked hard to accumulate your wealth. All those years of putting in long hours at the office have provided enough money to live comfortably through retirement. But if you own a company or corporation, are you protected against creditors, lawsuits or a divorce? Without an effective asset protection plan, you could be risking the loss of everything you have worked hard to earn. Because we live in a litigious society, it is vital to have an experienced Fort Lauderdale asset protection attorney on your side to help guard your financial interests.
Life is unpredictable. Certain people are more vulnerable to lawsuits than others–including business owners or if you own a large estate. Professionals, such as doctors, accountants, attorneys, dentists, real estate developers and property owners can lose everything they have earned. Your assets can be in danger from the following attacks:
- Medical malpractice liability
- Lawsuits filed by former employees
- Personal injuries occurring on your property
- Liability from sexual harassment or personal misconduct
An asset protection plan can safeguard your assets from creditors by placing them into a trust or foundation. It is also important to understand asset protection is not just for wealthy business or property owners. It is important to make sure your spouse, children or loved ones are placed in the best position to succeed, should you die or become incapacitated. An asset protection lawyer can help create and organize the following:
- Wills & Trusts, Estates & Probate
- Probate and estate administration
- Joint ownership
- Living wills and health care directives
- Pre and post-marital agreements
When it comes to asset protection, it is never too early to get started. Make sure your plan is set in place before you ever have to make a claim. One of the biggest mistakes people make is substituting asset protection for insurance. Think of it as a supplement to your insurance. Should someone file a lawsuit against you, allow the insurance company to deal with the problem. You are paying premiums for a reason.
Separate your personal assets from your business entities. By placing your personal assets into a business entity, you become more vulnerable to severe financial losses to creditors. Make sure your personal assets go in a trust. Your trust assets are protected from unscrupulous creditors by law. Because the law can be complicated and confusing, having an experienced asset protection attorney can be invaluable. When you are busy accumulating wealth, it can be difficult to step back to properly evaluate your financial position. An asset protection lawyer can provide a fresh perspective on how to manage and protect your earnings. They can also make sure your asset protection plan is properly executed to maximize your benefits.
The Fort Lauderdale asset protection lawyers at Zuckerman Law, LLC work diligently to provide the best solutions to help preserve your wealth. We bring years of experience in a variety of different fields, including estate planning along with dealing with a variety of tax problems. Effective asset protection is about planning. To learn more, contact us today and schedule a free confidential consultation.