Tampa Asset Protection is critical to help working professionals protect their life’s work from financial risk.
When most people think about asset protection in Tampa, they picture extremely wealthy people who “hide” assets overseas. This is simply not what asset protection planning is, especially for the average business professional in our community.
Simply put, a solid asset protection plan involves using legal tools such as Trusts and Corporate Entities (LLC’s S-Corps, etc.) to shield a person’s livelihood from risks that can occur in business or life.
You hear it about it all the time; people try to use the legal system to deprive others of the life savings. New lawsuits are filed every day. Many of the lawsuits filed are frivolous, but it still means that the defendant still needs to spend time and money fighting in court.
Our recommendation is that any professional who may be vulnerable to lawsuits speak to a qualified asset protection planning attorney in Tampa to explore options to protect their business and personal assets from being subject to loss if a lawsuit occurs. The following professionals are particularly at risk:
- Business owners
- Property owners
Some of the most common types of suits against professionals are personal injury, malpractice, claims from disgruntled former partners or claims of misconduct.
You may think you are safe from claims against your business or personal assets because you have insurance. However, plaintiffs have been awarded amounts that exceed policy insurance limits. Any amount over that limit could be paid using business and/or personal assets.
If you are a professional that is vulnerable, an asset protection plan is vital to protect you, your family and your business. Here at The Law Offices of Laurie Ohall, we help individuals put asset protection plans in place that not only help safeguard assets against future claims from creditors, but will also deter potential lawsuits from predators. With a solid wall around your assets, scammers aren’t likely to challenge you in court.
However, in order for an asset protection plan to be effective, it must be in place before a lawsuit is ever filed. If you are already in the middle of a lawsuit you will not be able to transfer the assets. Contact us today at 813-438-8503 so that we can put a wall of protection around you and your business before it’s too late.