Asset Protection Attorney Answers FAQ's About Asset Protection Planning in Florida
Let our 30+ Years of Experience Help You Achieve Peace of Mind
Asset protection attorney, C. Randolph Coleman, in Jacksonville, Florida, provides answers to Frequently Asked Questions about asset protection planning in Florida. As an asset protection attorney with more than 30 years experience dealing with asset protection matters in the Florida courts, the answers to these frequently asked questions will provide significant insight in the asset protection planning process, things to avoid when engaging in asset protection planning, what works, what sometimes works, and what never works. The information provided in these discussions reveal why working with an asset protection attorney is of critical importance if you want to accomplish asset protection that works. You also will learn why it is better to engage in asset protection planning before you actually need the asset protection, rather than after an event occurs that invokes the need for such planning.
The answers that are provided for these asset protection FAQs will help you understand the benefits of planning with assets that are exempt from creditors’ claims (Chapter 222, Florida Statutes); how to avoid fraudulent transfers or fraudulent conveyances (Chapter 726, Florida Statutes), that can effectively undo otherwise effective asset protection planning; how to use the charging order protection that is provided by the Florida Revised Uniform Limited Liability Company Act (Chapter 605, Florida Statutes); and why the guidance of an asset protection attorney can be so important for such planning efforts.
If there are questions you have about asset protection planning that are not addressed in these materials, please contact us with your questions and we will attempt to provide answers for you in a timely manner.
September’s Crazy Lawsuits
This month brings news of another group of ridiculous lawsuits, and coming on the heals of Florida's ranking among the ten worst states for lawsuits, provides more fresh evidence of the need for asset protection planning. Take a look at these "winners"...
Why Floridians Need Asset Protection Planning
The U.S. Chamber Institute for Legal Reform has ranked Florida among the 10 worst states for lawsuits. The biggest concern is the huge damage awards by Florida juries. The Institute's conclusions provide ample reason to engage in asset protection...
Act Now to Take Advantage of a Tax-Saving Opportunity
Legislation in effect until December 31, 2012 makes the present a particularly important time for tax planning. In late 2010, Congress passed and the President signed into law the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010...
Increasing Importance of Special Needs Planning
Recently, The Coleman Law Firm was privileged to be a sponsor of the 10th Annual Angelwood Fashion Show and Luncheon, a wonderful event that raises funds for programs supporting children and adults with Autism, Cerebral Palsy, Down’s syndrome, Spina Bifida and...
The 13 Most Frequent Medicaid Mistakes for Nursing Home Care
As our population grows older, more and more families will face the need for long term care for their loved ones. The cost of a skilled nursing home care in Florida averages about $7,000 to $8,000 per month. That number increases each year.Medicare...
Asset Protection for Physicians – Discussion and Dinner
On September 11, 2012, The Diamond Group (an investment firm) is hosting a dinner meeting for members and prospective members of the Duval County Medical Society. Arni Diamond, the principal for The Diamond Group has invited me to speak on the topic of asset...
Tax Pitfall of Employer-Owned Life Insurance
What happens when a company loses its top salesperson to a tragic accident? Imagine that the salesperson drove 40 percent of the company’s million-dollar-a-month revenue. Can the remaining, less experienced sales staff compensate for the loss? Do the...
Improper Beneficiary Designation Means Loss of Life Insurance Death Benefits
Most people correctly believe that life insurance proceeds are exempt from creditors' claims in Florida. That is an accurate paraphrasing of Florida Statutes, Section 222.13.Most people incorrectly believe that it makes no difference who is the beneficiary of...
Estate Planning for Farms and Ranches
I hold a special place in my heart for the family farm. My paternal and maternal grandparents were farmers. Their fields of peanuts, soybeans, tobacco, corn, and livestock fed our family and many others in South Alabama and the Florida panhandle. Like many of you,...
Is it a good idea to list my TRUST as beneficiary for my 401k plan?
There is a difference of opinion among estate planning professionals regarding designating a revocable living trust as a beneficiary of a 401(k) plan or other retirement plan (such as an IRA). Some of the differing opinions derive out of misconceptions involving the...
Academy Awards Nominee “The Descendants” Really About Estate Planning
If you can get past the swooning over George Clooney, this year's five time Oscar nominee "The Descendants" is really about estate planning. In the movie plot, Clooney's character's ancestors left valuable Hawaian real estate in a trust, of which Clooney's...
How a Qualified Income Trust Can Help You Qualify for Medicaid to Pay for Nursing Home Care
Florida is an "Income Cap State" with regard to eligibility for Medicaid benefits to pay for nursing home care. That means that if the nursing home resident's income exceeds the "income cap", he or she will not be able to qualify for Medicaid...