3 Common Reasons that LLCs May Fail to Protect Assets
Under Florida law, a limited liability company (LLC) is a business entity that can protect an owner’s assets from the company’s liabilities. An LLC can also protect the owner’s interest in the company from personal judgments against the owner. However, an LLC has its limitations as a vehicle for asset protection. A Florida asset protection […]
Protecting Your Rental Property from Liability and Creditors
A rental property is one type of asset that individuals may acquire as part of their asset portfolio. While Florida law protects your homestead property, no matter its value, this protection does not extend to rental properties. Therefore, you need to take proactive steps to shelter your rental properties from the potential reach of creditors. […]
What Are Qualified Charitable Distributions (QCDs) and How Do They Work?
As an asset protection lawyer can advise you, qualified charitable distributions(QCDs) may be useful for making tax-free charitable donations under some circumstances. However, while there are advantages to using a QCD for some individuals, there are limitations to its usefulness. A Florida asset protection attorney from Kramer Green can help you determine whether a QCD […]
3 Major Strategies for Protecting Your Assets
No matter how successful you may be, owning a business always involves risk to your assets. Despite all your work and planning, a legal claim, poor investment, or another misstep can ruin your finances. As a result, taking steps to protect your personal assets from creditors is wise. The Florida asset protection lawyers at Kramer […]
Using an LLC for Asset Protection Under Florida Law
Setting up a limited liability company or LLC is one way to shelter assets from creditors so you can keep the wealth you have earned.You can rely on a Florida asset protection lawyer at Kramer Green to work diligently to protect your business and all its assets from creditors to the greatest extent possible. Defining […]
5 Ways to Establish Residency in the State of Florida
Florida offers some of the strongest asset protection laws in the nation and no state income or inheritance taxes. As a result, some people may seek to establish residency in the state of Florida to protect their assets from the reach of business or personal creditors. Establishing a domicile or residency in Florida is essential […]
Section 529 Plans and Asset Protection
You can rely on a Florida asset protection lawyer at Kramer Green to work diligently to protect your assets from creditors to the greatest extent possible. Florida law provides various mechanisms to shelter assets from creditors so you can keep the wealth you have earned. One such mechanism is the Section 529 account. Understanding Section […]
What You Need to Know About the Florida Community Property Trust Law
A community property trust is a method by which some married couples can hold assets and enjoy tax advantages. In particular, a community property trust can benefit a surviving spouse from a tax perspective when the other spouse passes away. An estate planning attorney at Kramer, Green, Zuckerman, Greene & Buchsbaum, P.A. can provide you […]
Three Necessary Elements of Drafting Spousal Lifetime Access Trusts to Take Advantage of New Creditor Protections
Florida has become the 11th state to offer its residents asset protections in spousal lifetime access trusts (SLATs) under a new law that applies to trusts established after June 30, 2022. As long as a trust meets all the eligibility requirements set out in the Florida SLAT law, creditors of the grantor spouse won’t be […]
Three Types of Bank Accounts That Have Protections from Creditors
Most people keep significant sums of money in checking, savings, or money market bank accounts at various financial institutions. However, if you owe a debt, one of the first places that a creditor will look is at your bank accounts. A creditor with a judgment against you for a debt can take steps to garnish […]