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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.