Tag Archives: Tampa Asset Protection Attorneys
Don’t Lose Those Homestead Protections
Florida’ constitution provides broad protection for a homestead. Your homestead is generally protected from creditors, and protected even from bankruptcy courts. A homestead is generally considered a great asset protection mechanism, and there are also very significant breaks on taxes for homestead properties. A family only gets to declare one homestead (other than those… Read More »
Get the Most From Large Settlements
If you are expecting a personal injury settlement, or any kind of settlement that could wield a significant sum of money all at one time, the last thing on your mind may be taxation of those funds, or how to invest them. But knowing some ins and outs of planning for a lawsuit settlement… Read More »
Are You Personally Liable for the Debts of Someone Who Passes Away?
There is often nothing more catastrophic than the passing of a loved one. However, that trauma is often exacerbated by debt, and what happens when creditors of the deceased come looking to you to collect debts. Often, collectors will blindly look to the survivors to pay the decedent’s debts. Knowing your rights can help… Read More »
Don’t Become an Alter Ego to Your Business
Many individuals know that corporations, limited liability companies, and other business entities are separate legal entities from people—specifically, their owners, directors, or managers. That’s one of the benefits of opening a corporation, limited liability company, or other business entity. Generally, the company’s assets are not yours, and your assets are not the company’s. There… Read More »
Some Estate Planning Tools to Consider When Planning for Minors
Its pretty common—and in fact pretty normal—for someone to want to provide for their children when the kids grow up. Surely, you can stuff money in a savings account or a mutual fund or some other investment vehicle. But the problem is that if you keep the funds in your name, they could be… Read More »
Don’t Ignore Intellectual Property When Planning an Estate
What does the 1980s classic movie “Back to the Future” have anything to do with estate planning? A recent lawsuit involving an icon in the famous movie is a good reminder about planning for assets you may not think about right away. Lawsuit Involves Iconic Movie Car The case involves a lawsuit by John… Read More »
Could Getting Married Cost You Government Benefits?
Now that the right to marry has been extended to all people, it’s tempting and understandable for many couples to rush to tie the knot. We’ve previously discussed how many standard estate planning documents may need to be altered or created when a couple gets married. But planning for marriage goes beyond just altering… Read More »
Using an Irrevocable Trust as an Asset Protection Tool
If you have assets that you want to make sure are enjoyed by your family for years to come, even after you’re gone, you may have heard what a valuable tool a trust can be. As the name implies, a trust holds property in trust for the use and enjoyment of the people you… Read More »
A Health Savings Account (HSA) Could Save You Some Tax Money
Health insurance has been a popular topic the last few years. Many people don’t figure health insurance into an overall estate planning strategy. But, in fact, there is a savings vehicle for health planning that may actually save you money on your taxes. What is an HSA? Many individuals find when procuring health insurance… Read More »
Florida Annuities: A Great Asset Protection Tool, Even in a Divorce
Divorce seems to bring up a lot of questions when it comes to asset protection and estate planning, especially when exempt assets are transferred pursuant to a divorce. Just recently we discussed the effects of the homestead protections upon divorce, and whether a divorce threatens the homestead protections of property that are normally afforded… Read More »
