At Katz Baskies & Wolf PLLC, we take pride in our ability to bring peace of mind to our clients by crafting estate plans that protect their wealth and assets.
In recent years, Domestic Asset Protection Planning has become an ever-increasingly important component of the family estate planning process. Domestic Asset Protection Planning involves the organization and reorganization of a client’s business and personal affairs in advance in order to reduce, minimize or even eliminate liability exposure. In the absence of a fraudulent conveyance, the New York courts recognize the right of individuals to arrange their affairs so as to limit their liability to creditors. Similarly, Florida recognizes the value of the homestead exemption, among others, for asset protection purposes so families will not be reduced to absolute destitution and become wards of the state.
The attorneys at Katz Baskies & Wolf PLLC have taken an active role working with The Florida Bar and the Florida Legislature in designing laws that provide certain protections to families and their assets. Consequently, we offer practical solutions and strategies to our clients in order to best comply with the applicable laws limiting creditors’ claims to our clients’ assets including:
- Homestead protection for the principal residence
- Life insurance policies
- Death benefits payable under life insurance policies
- Pension funds and IRA’s
- 529 Plans
- Real and personal property owned by spouses as tenants by the entireties
- Partnership interests
- Membership interests in multi-member LLC’s
- Spendthrift trusts
- Discretionary trusts
Speak with a Domestic Wealth Preservation Attorney to Learn More
Take the first step in protecting the assets you possess by contacting our firm to discuss your estate planning options. The attorneys at KBW are experienced in developing estate plans that meet the objectives and desires of our clients.