Asset protection is a process of protecting estate assets against attack by creditors. A well-designed asset protection plan builds a protective fort around the client's estate and guards family wealth from external creditor attack.
Estate planning is the creation of a definite plan for managing your wealth during your lifetime and distributing it after your death. There are three (3) principal obstacles in effectively planning estates: living probate or guardianship; probate and estate taxes.
Business planning is the formation of ownership structures to achieve operational control, tax and liability protection objectives through the use and administration of closely-held corporations, limited liability companies and partnerships.
Probate generally is a court-supervised process for identifying and gathering the decedent's assets, paying taxes, claims and expenses of administration, and distributing assets to beneficiaries. The Florida Probate Code is found in Chapters 731 through 735 of the Florida Statutes. There are two (2) types of probate administration under Florida law: formal administration and summary administration.
Guardianship is a legal proceeding in the circuit courts of Florida in which a guardian is appointed to exercise the legal rights of an incapacitated person.