Chepenik & Trushin LLP

Asset Protection

On the most rudimentary level, asset protection is the process of shielding assets against potential lawsuits, creditors or bankruptcy. Asset protection has great value, particularly to business owners and professionals that own valuable assets.  Asset protection planning needs to begin early, prior to impending lawsuits and anticipated judgments.  Attempting to protect assets after a judgment has been secured or after bankruptcy has commenced will likely trigger Florida’s Fraudulent Transfer Statutes. Florida is known for having some of the best asset protection laws in the nation, which should be utilized well in advance of any potential creditors. 

In recent years litigation has become more prevalent especially in Miami against business owners and professionals.  Accordingly, it is imperative that proper asset protection planning be instituted to dissuade unnecessary litigation. Here at Chepenik Trushin LLP, we service clients in Miami to assist them in protecting their assets from prospective creditors.

Asset protection does not utilize a method of hiding assets, but rather looks to the titling of assets.  Certain assets are given special protections under the law.  Once we analyze and evaluate your unique situation, we will then discuss your concerns and formulate a plan to address those concerns.  We analyze your assets by taking a global inventory and dichotomizing which assets are already protected by state law from the ones that can be easily reached by creditors.  Insofar as you have assets that are easily reached by creditors, we will utilize certain tools to retitle them thereby alleviating creditor concerns. 

Asset protection attorneys have a plethora of tools to utilize when creating an asset protection plan.  Some of these options may include Florida LLCs, Florida limited partnerships, pre-marital or post nuptial agreements and use of Florida’s protection for annuities, insurance, retirement plans and other investments. An additional tool is utilizing out of state asset protection trusts and even setting up trusts in foreign jurisdictions. Our attorneys are here, in North Miami, to help you navigate potential pitfalls and assist you with creating an efficient asset protection plan to suit your business and professional lifestyle.

Business owners and professionals should seek attorneys that understand their business so that risks can be properly analyzed.  Some businesses have unavoidable risks such as accidents on their premises.  Seeking help from experienced asset protection attorneys that have business experience will help to create efficient structures that do not jeopardize business operations.  Furthermore, employing some of these structures have specific tax implications.  It is important that the asset protection attorney understands the tax implications of each structure to ensure the efficacy of the asset protection plan.  At times, certain asset protection plans that are implemented can cause negative tax implications.  Attorneys with backgrounds in business and tax can assist in minimizing the negative tax implications while still providing effective asset protection.

The firm of Chepenik Trushin LLP employs a unique blend of experience in the areas of estate planning, corporate/business law, and taxation to help service clients in Miami, Aventura and Fort Lauderdale and craft the most efficient asset protection plan possible to enable you to operate your business and profession without the constant burden of potential creditors.

Call Chepenik Trushin LLP at (305) 981-8889 or contact us online

Client Reviews
★★★★★
Just want to start off by saying the team assembled at CHEPENIK/TRUSHIN is by far amazing. Their dedication and the amount of time they put into working on my file is by far the best service I have ever received. And the cherry on top is their ability to communicate with me and their entire team is seamless. Peter C is also a wealth of knowledge that can guide you in the right direction and place you in the competence of BART and BRAD. This is a firm I highly recommend. Ali M, business owner, Miami, FL 2018
★★★★★
The team at Chepenik Trushin LLP are experienced, professional and dedicated in handling all Probate, Guardianship and Estate legal matters. I have referred them numerous clients over the years; all of which have been truly appreciative of their firm's excellence in representation. Jesse S., Esq.
★★★★★
I highly recommend this law firm for your estate planning and probate litigation needs. Passionate and dedicate attorneys who are committed to going above and beyond to help their clients. Tiffany C Gonzalez, CPA
★★★★★
He (Honorable Magistrate Judge Kimler, Miami Dade Probate and Guardianship court) taught me well. After my experience with my client and your law firm as my legal counsel, the standing joke at Dade County courthouse is that I know the Marchman Act almost as well as the judge who wrote it. Ms. Bambi Williams, GCM
★★★★★
So very impressed with Bradley Trushin, Partner at Chepenik Trushin LLP. I had the privilege of attending his presentation on Probate, Guardianship & Elder Abuse. Brad presented today to 45 trust bankers and probate realtors. Brad is a top notch Litigator with a keen attention to detail. Maji Ramos, RE Broker
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