Florida Homestead and Asset Protection Part II
In part I of Florida Homestead and Asset Protection, we concluded the discussion with a broad statement that Florida homestead exemptions are available only to individuals or "natural persons." Availability of Homestead for Asset Protection While it is true that homestead exemptions provide an excellent form of asset protection, they…
Honesty in Asset Protection
Many people confuse asset protection with hiding assets. At Lodmell & Lodmell, we help our clients develop asset protection strategies and put put asset protection mechanisms in place so that assets don't need to be hidden. What we do is help our clients create a legal vault for their assets. …
Homestead Asset Protection and Bankruptcy
We have run an articles series on Florida asset protection provided by the homestead exemption. Those articles addressed the homestead exemption in the context of creditor claims. In other words, they discussed how the homestead exemption protects property that is being attacked outside of bankruptcy. In a bankruptcy proceeding, homestead…
Florida Homestead and Asset Protection Part I
Homestead laws are very important from the standpoint of asset protection. In some states, homesteaded property is completely exempt from the claims of creditors. In other states, homestead protection exempts a certain dollar amount from the claims of creditors. We are going to post a series of articles relating to…
Very Old Asset Protection Mechanisms
Asset protection structures and mechanisms are nothing new. They've been around for centuries. The wealthiest people on earth take advantage of asset protection planning, and history shows that wealthy people always have pursued asset protection as a goal. A simple limited liability company, for example, is an asset protection structure. …
Why Offshore Trust is the Strongest Form of Asset Protection
We wrote previously on special powers of appointment and how they can be used in domestic trusts for asset protection purposes. Powers of appoint have been around for a long time, dating back to times of old English common law. It's true that a special power of appointment can be…
Proposed Law is Scary for Asset Protection Purposes
We have written pretty extensively on the Olmstead decision handed down by the Florida Supreme Court. It seems that many people, in addition to asset protection attorneys, are considering the potential long-term impact of that opinion, the Florida Legislature included. Bills that directly address the issues presented in Olmstead have…
Offshore Trusts versus a Special Power of Appointment Continued
This article is a continuation of Why Offshore is the Strongest Form of Asset Protection: Even Better Than Special Powers of Appointment. Once a lawsuit is filed against you and a plaintiff's attorney discovers the existence of a domestic trust, the outcome of the suit is left to a judge…