Tampa Asset Protection Attorney

Asset protection is an important estate planning technique. The goals of estate planning are to protect your hard-earned asset from risk and provide peace of mind. With the right asset protection strategy, you can shield assets from creditors and ensure your loved ones are taken care of when you die. Contact Ronald Cutler, P.A. today. We have decades of experience in asset protection. The right strategy must take account of many factors—your risk, your wealth, and existing tax law. There is no “one size fits all” approach. A Tampa asset protection attorney can meet if you reach out to our firm today.

What Risks Must You Protect Against?

Our clients seek to protect themselves from various risks:

• Judgment creditors. If you are sued, then anyone who wins a lawsuit can obtain a judgment against you. They can then move to put a lien on real estate or personal property, levy bank accounts, and take other collection activity. Imagine if you own rental property and someone falls while visiting, fracturing their spine. They could sue you as the owner, win a judgment, and then come after your savings or checking account because you are the owner of the property. We can protect these assets by moving ownership of real estate to a corporation or limited liability company, whose owners enjoy limited liability. Essentially, a judgment creditor can’t reach through and get at your personal assets.
• Anyone with a small business is at risk of having personal assets seized by someone suing the business. Let’s discuss ways to protect you.
• The government might try to seize assets for various reasons, such as Medicaid estate recovery. You can protect assets by moving them into a trust, which can make you eligible for Medicaid. We might even transfer assets as part of Medicaid planning.

The government might also put a tax lien on property you own. Appropriate asset protection measures might shield some property.

Florida’s Homestead Exemption is Not Enough

Florida has one of the more generous homestead exemptions in the nation. Under the state constitution, the full value of your home is protected from forced sale, which is usually started by a judgment creditor. This is excellent protection. In other states, only a tiny portion of equity is protected, but Florida is very generous. Someone who sues you can’t force you to sell your home.

However, the exemption only applies to a homestead, not other real estate, like investment properties. You could end up losing those if you lose a lawsuit. We can work to protect as many assets as you own.

Reach Out to Tampa Asset Protection Attorneys Today

Ronald Cutler and his team employ various asset protection strategies. Trusts, LLCs, and umbrella insurance can help protect you in the event you are sued. Contact our firm today to find out more about the services we offer. We have helped many individuals and small business owners protect their hard-earned properties and assets. You should get started as soon as possible by contacting a Tampa asset protection attorney.