Asset Protection Services in Florida
Protecting personal and business assets is essential for maintaining financial security and ensuring peace of mind. At Kelley, Grant & Tanis, we provide comprehensive asset protection strategies tailored to Florida’s legal landscape. Our attorneys, who are members of the Florida Bar Association, assist individuals, families, and business owners in Orlando, helping them shield their wealth from potential risks, creditors, and unforeseen liabilities.
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What is Asset Protection?
Asset protection involves legally structuring and managing assets to reduce exposure to lawsuits, financial threats, and creditor claims. Florida law offers several avenues for safeguarding wealth, drawing on constitutional homestead protections found in the Florida Constitution, exemptions defined in Chapter 222 of the Florida Statutes, and legal structures guided by the Florida Trust Code (Chapter 736), Chapter 605 (Florida Revised LLC Act), and Chapter 607 (Florida Business Corporation Act). Leveraging these resources, we help Orlando clients preserve their wealth and remain resilient in a changing economic environment.
Key Asset Protection Services We Offer
We customize asset protection plans to meet the unique needs of Orlando’s diverse community, including:
- Trust Formation: Establishing irrevocable and domestic asset protection trusts to secure assets beyond the reach of creditors.
- Business Structuring: Creating LLCs, corporations, and family limited partnerships to separate personal and commercial interests, reducing liability exposure.
- Homestead Protection: Utilizing Florida’s constitutional homestead exemption to protect primary residences from many creditor claims.
Trust-Based Asset Protection
Trusts are integral tools in asset protection, allowing individuals to transfer asset ownership to a separate legal entity. By doing so under the guidance of the Florida Trust Code, those assets typically become less accessible to creditors. Our attorneys help Orlando clients select trust structures that align with their goals—be it domestic asset protection trusts or family trusts—ensuring that transferred wealth remains secure and strategically managed.
Business Structuring and Entity Formation
Forming the right business entity is crucial for safeguarding personal wealth from commercial liabilities. Whether establishing an LLC or corporation under Florida’s business statutes, this separation prevents business debts and claims from encroaching on personal assets. Our firm assists Orlando entrepreneurs in choosing and forming entities that provide robust liability protection and comply with state requirements.
Florida’s Homestead Exemption
Florida’s constitutional homestead exemption is a powerful asset protection tool for homeowners. By properly leveraging this exemption, Orlando residents can shield their home’s value from numerous creditor claims. Our attorneys clarify eligibility and guide clients in maintaining compliance so they can confidently rely on this protection.
Asset Protection for High-Risk Professionals
Certain professions—such as physicians, attorneys, and high-level executives—face heightened liability risks. We develop tailored asset protection strategies for these high-risk professionals, combining trusts, business entities, and statutory exemptions to secure personal wealth. This proactive approach helps Orlando’s accomplished professionals continue to advance their careers without unnecessary financial vulnerabilities.
Frequently Asked Questions
What assets can be protected under Florida law?
Florida law provides strong safeguards for primary residences, certain retirement accounts, and specific annuities. Additional assets may be shielded through trusts, LLCs, and other legal mechanisms. We assist clients in selecting approaches that best fit their asset mix and risk exposure.
How does an irrevocable trust protect assets?
When assets are placed in an irrevocable trust, ownership shifts away from the individual. As a result, creditors typically cannot reach those assets, enhancing the individual’s financial stability and reducing liability concerns.
Can asset protection help if I face a lawsuit?
Yes. Implementing asset protection strategies before litigation or creditor claims arise can significantly limit exposure. By structuring assets in advance, individuals and businesses can better insulate their wealth against potential legal actions.
Is asset protection legal in Florida?
Absolutely. Asset protection, when executed in compliance with state and federal laws, is fully legal. Our attorneys ensure all strategies meet statutory guidelines, constitutional principles, and ethical standards, preserving wealth responsibly.
Do I need asset protection if I already have insurance?
Insurance is essential but not all-encompassing. Asset protection provides an additional layer of security, guarding against liabilities that exceed policy limits or fall outside insurance coverage, and ensuring long-term wealth preservation.
About Orlando, Florida
Orlando is a city with over 320,000 and is renowned for its world-class theme parks, tourism industry, and flourishing tech and healthcare sectors. From the Downtown business district to upscale neighborhoods like Windermere and Lake Nona, residents value opportunities to build and preserve wealth. As professionals, entrepreneurs, and families navigate an evolving marketplace, robust asset protection strategies offer reassurance. By using Florida’s legal frameworks effectively, Orlando clients can safeguard what they’ve earned, confidently embracing future opportunities and challenges.
For more information on our asset protection services, visit our Trusts, Probates & Estates practice area.
