Vero Beach Asset Protection Attorney
In the modern era, more and more people are finding themselves with substantial sums of money due to a lifetime of saving and investing. Consequently, it is important to take advantage of various laws allowing individuals to place assets out of the reach of creditors. However, these laws are not simple, and navigating the various restrictions – both regarding the circumstances and timing as to when assets can be placed out of the reach of creditors, as well as the circumstances and timing as to when such assets can be enjoyed by the individual – takes one who is extremely knowledgeable. Our Vero Beach asset protection attorneys understand these laws, and can provide an individualized approach to your particular situation to structure your assets so that you can keep as much of them away from the reach of creditors as reasonably permitted. In fact, at Markarian & Hayes, we believe that asset protection planning is an art that not only involves understanding these laws, but also the locales that best serve as protective havens, as well as the realities of the American legal process involved in the collection of debts. Accordingly, without a thorough understanding of each of these elements, it is unlikely that an individual could safely put his or her assets out of the reach of creditors.
Types of Asset Protection
Generally speaking, there are four types of asset protection:
- Typically, personal domestic asset protection takes the form of a trust, which is created by a grantor who funds the trust with assets. The grantor sets the terms under which the assets are to be managed and distributed. Asset protection attorneys like those at Markarian & Hayes will help you by choosing the best trust instrument for your specific needs. In a business context, asset protection takes the form of a specific business entity, such as a limited liability company or a limited partnership. These entities serve to shield personal liability from creditors, and, again, our attorneys can help you decide which is best in your situation.
- Otherwise known as offshore asset protection, such planning and structuring requires a thorough understanding of the interaction of international legal systems, as well as that of the United States. Specifically, knowledge of the selected nation’s civil, banking, political, criminal and tax systems is required, as well as any treaty status between the United States and that country. Like domestic asset protection, international asset protection is also very case specific. Thus, understanding foreign laws is not enough; a proper asset protection attorney must also be able to apply the knowledge of those laws to the specific case at hand, and be able to structure an individualized plan
- Hybrid Planning. In some cases, merely using domestic protection avenues or international protection avenues is not enough. In the same way, clients may have not only personal assets, but also business-related assets. In this situation, it may be necessary to have a hybrid plan, which takes advantage of certain aspects of various laws, whether they be domestic or international, business or personal.
In all of these cases, one size truly does not fit all, and having an experienced asset protection attorney who understands this and will work to ensure that your assets are protected according to your desires is crucial. The attorneys at Markarian & Hayes realize this, and will work to individually develop a plan for you and you alone.
Contact Our Vero Beach Project Asset Protection Attorneys Today
Asset protection is essential to keeping more of what you have earned. Our asset protection attorneys understand this, and will help ensure that you do just that, whether it be personal or business assets, or whether the best way is domestic protection or international protection. If you have questions or concerns about asset protection, contact our experienced attorneys today to schedule a consultation, and learn the variety of services we offer all your legal needs.