Three Powerful Asset Protection Strategies

September 12, 2019 posted by

Florida Asset Protection: Three Powerful Strategies Hi. My name is Phil Rarick. I am a Miami Asset
Protection attorney with Rarick & Beskin. Today I want to discuss three especially powerful
asset protection strategies for Florida residents. However, remember, a good asset protection
plan will often employ a combination of tested asset protection structures. Strategy #1: Family Limited Partnership The short name is a Family Limited Partnership,
but the technical name is a mouthful — family limited liability limited partnership. Let’s
just call it a FLP. The FLP is often used as an umbrella or holding company over family
entities, such as multiple LLC’s, adding a second layer of protection that is extremely
difficult to penetrate by any would-be creditor. Strategy #2: Nevada Hybrid Domestic Asset
Protection Trust Nevada has the strongest asset protection
laws in the country. A Domestic Nevada Asset Protection Trust is an exceptionally strong
structure for protecting family assets. This same type of trust, employing a hybrid strategy,
can provide a structure that many consider the strongest in the United States. Strategy #3: Nevis Island LLC or Nevis Trust An increasingly popular off-shore jurisdiction
is Nevis Island, since it has enacted strong trust and LLC laws. To attack an interest
in a Nevis Island LLC, a creditor has to go to a Nevis court to get a charging lien. It
is unclear whether a Nevis Court would even recognize a U.S. judgment. We have examined 3 asset protection strategies.
One or more may be the best option to protect your hard earned wealth. As a Miami asset
protection attorney, I would be happy to assist you.

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