Serving Vero Beach community, the Lawn & LeBlanc Law offices offer comprehensive legal services to preserve and protect one’s wealth.

Protecting assets from predatory creditors is an essential component of an integrated estate and wealth preservation plan. In addition to the Florida statutory protections afforded certain assets (e.g. Homestead, IRAs, Qualified Retirement Plans, Life Insurance, and Annuities), common asset protection structures include the use of Trusts, Limited Partnerships, Limited Liability Companies ( LLC ), Charitable Remainder Trusts ( CRATS, CRUTS, etc.), Irrevocable Life Insurance Trusts ( ILITS ), and Domestic Asset Protection Trusts ( DAPTS ) and/or Offshore Asset Protection Trusts, etc.

Each of the aforementioned asset protection structures provide varying levels of protection depending upon (i) the quality of the documents drafted, (ii) the state or country where such entity is domiciled, and (iii) your level of risk tolerance (i.e., the level of assets you are willing to transfer/fund to such entity and the amount of control you are willing to relinquish over those assets).

In addition, revisions to state statutes and ever-changing case law often present a moving target when it comes to the optimal domicile for asset protection vehicles. Ultimately, the goal of wealth preservation planning is to create “shields” around certain of your assets to thwart judgment creditors, reduce the risk of suit, and limit tax exposure.