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Lazaro J. Mur, Esq.
Every small business owner needs to learn about asset protection. In business, knowledge is power. You risk everything you have, every day, for the dreams of success. But if you don't plan to secure your assets and protect your assets, you could lose everything you've got in one day. That's why it's so important to contact attorneys that specialize in asset protection.
Lazaro J. Mur, Esq.
Some basic asset protection vehicles for small business owners could be something as simple as a children's irrevocable trust, could be something as complicated as an off-shore trust. It all depends on the particular needs of the individual entrepreneur. That's why it's so important to contact attorneys that have asset protection expertise.
Lazaro J. Mur, Esq.
You know, choosing the right asset protection vehicle depends on your particular needs. What we recommend is that you sit down with an attorney that specializes in asset protection, present your specific situation and then they will present you with the various options. It's not different than buying a pair of shoes, it has to be comfortable. That's why it's important to contact attorneys with a specialization in asset protection planning.
Lazaro J. Mur, Esq.
That's a very basic question. A lot of people nowadays are going for the flavor the month, which is an LLC. However, an S corporation will provide you the same level of protection with few exceptions. In essence, the history behind the LLC is because foreigners could not be shareholders in S corporations, so a Florida legislator created the LLC to give more flexibility to the entrepreneur in need of raising capital from abroad...
Lazaro J. Mur, Esq.
You know, a small business owner has a variety of tools available. We can go with an irrevocable trust for the benefit of our children. We can go with a family limited partnership. We can even go with an offshore trust. It all depends on the needs of the individual. That's why it's so important to consult with attorneys that specialize in asset protection.
Lazaro J. Mur, Esq.
Well, limited liability companies are designed to protect the assets within the entity from creditors outside of the entity. However, there are some limitations. You need to have more than one member if you really want to be certain that your LLC will not be pierced. That's why it's so important to contact attorneys that specialize in asset protection, even at the point of establishing an LLC.
Lazaro J. Mur, Esq.
Well, generally homestead property, the house you reside in with your family, is protected under the constitution of the state of Florida. However, there are various requirements and specifications that must be complied with to make sure that you fall under the protection of the constitution of the state of Florida. That's why it's so important, even when buying a home, to contact an attorney that specializes in asset protection.
Lazaro J. Mur, Esq.
Not without consulting with an asset protection attorney that specializes in offshore asset retention trust. Going offshore is extremely sophisticated and not recommended for everyone. That's why you should consult with a specialist before considering transferring assets offshore.