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Cape Coral Asset Protection Lawyers

Isn’t asset protection something exclusively for the very wealthy? Any attorney will tell you that this common misconception is absolutely not true at all. Anyone who owns a home and has other assets needs to protect them for themselves and their families. That is why it is imperative that you talk to an experienced attorney as soon as you can about protecting what you have earned from creditors who might want to take a piece of it.

You spend your lifetime building up as much wealth as you can and you don’t want that wealth unnecessarily exposed to potential creditors or other legal action. A good attorney has tools at their disposal that will not only protect your assets after you have passed on, but can also offer plenty of protection while you are still building your estate. It is important talk to a qualified attorney as soon as possible to get your finances under a blanket of protection.

I Can Just Do It Myself

The Internet is a great source of information and resources for people who like to do things on their own, but an asset protection plan is not something that should be a do-it-yourself project. There are many websites online that make it look easy to fill out some forms and protect your assets. But are you using the right tools to get the job done? Who is going to look over your work to make sure it is done properly? What if you make a mistake? How will you update your program as your assets change?

Any money you think you are saving in legal fees when you do a DIY asset protection plan will be lost or spent when that one form you submitted incorrectly does not protect you from creditors. An attorney can put together an effective plan and give you plan management options to choose from. There are no mistakes to worry about when you do it right and hire an asset protection lawyer.

What Is An Asset Protection Lawyer?

They are specialists who works primarily in the fields of estate planning, trusts, and risk protection. An experienced Cape Coral asset protection lawyer is going to know the latest laws and tools available. A good professional is not just an estate planner, but they are well-rounded in all areas of asset management and risk mitigation.

When choosing a firm, be careful to choose one that specializes in asset protection. When you interview an attorney, ask them what types of professional organizations they belong to and what types of bar exams they have taken. You want someone that is absolutely dedicated to keeping up on all of the latest areas of asset protection and who has years of experience in the most detailed types of programs.

Protecting Your Assets

A lawsuit that threatens your assets can come from anywhere and at any time. Credit cards, installment loans, department store cards, and car accidents are just some of the sources of potentially damaging lawsuits. If you get in a car accident and the damage exceeds your policy limits, then you are personally on the line for the remaining balance. In some states, not even bankruptcy can shield  you from those situations.

Various legal and financial tools are used to put your assets in safe places that creditors will have a very hard time accessing. These tools will protect your assets during the probate process after you have passed away, and while you are alive and continuing to build your wealth. An asset protection lawyer is your defense against situations that could arise at any time and do considerable damage to your family’s future.

When Should I Start?

As long as you are out there living life without an asset protection plan, your family’s future is in jeopardy. It does not matter your age or your financial status, the sooner you make an appointment to see an attorney, the better. Creating a strong asset protection plan takes time and you want your plan in effect as quickly as you can to be your shield against the things that can happen in life.

Another reason for talking to an attorney as soon as you can is the limitations of asset protection. If you are currently involved in a lawsuit from a creditor, then it is too late to set up a program. Once your assets are exposed to a legal proceeding, there is nothing you can do to protect them. Even if you try to have your assets placed in some sort of legal structure, the courts will inevitably order your assets taken out of protection. The sooner you have your program set up, the better.

How An Asset Protection Attorney Shields Your Assets

There are many different tools a Cape Coral asset protection lawyer uses to help protect your stuff from creditors. One popular tool is a legal structure called a trust. A trust is a legal entity unto itself that would take ownership of your assets and become a safe haven against creditors. Anyone who is trying to sue you personally would not have access to any of the assets in the trust. In many states, a trust can bypass the probate process after you pass away and make sure your assets are protected from creditors who try to sue for payment. It is important to remember that not all trusts offer the asset protection illustrated above. It is imperative that your attorney uses the proper trust to ensure your assets are safe.

A will is a common tool used because it is a simple way to make sure your final wishes are honored. A good attorney can make provisions in your will that will make certain parts of your assets protected from creditors. A will can also make certain that the person you want to be administrator of your estate passes through probate and is able to protect your estate.

A limited liability company (LLC) is a legal structure normally used for businesses, but it can also be a very powerful asset protection tool. An LLC is a legal entity that can be used in much the same way that a trust can. An LLC offers flexibility when it comes to taxes, and it is also an easier legal structure to adjust when you want to make changes. An experienced attorney will know when to use an LLC structure over a trust. It is important to note that an LLC only offers asset protection from the inside out and not the outside in. This means, that while your LLC liability may be limited, your LLC is still in jeopardy when it comes to your personal liability. An experienced attorney will ensure that you and your LLC are protected from the inside out and the outside in.

Our firm has a staff of experienced Cape Coral asset protection lawyers available whenever you need them. We recommend you make a call to one of our devoted Non-Crisis Medicaid planning attorneys and ask any questions you may have. We will be glad to answer all of your questions, help you to understand the process of asset protection, and make that first appointment that will be your first step towards securing your family’s future.

CONTACT US TODAY FOR A CONSULTATION

We are dedicated to making a difference in your life and that of your family.

 

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