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We are diligent and dependable, compassionate and personable and innovative and professional. Haimo Law (HaimoLaw.com) helps you protect your family and your business’s interests for the immediate and long-term future. Together, we can take advantage of incredible tools and techniques that are available to you right now. Call us for wills, trusts, probate, asset protection and business planning. Haimo Law offers premium legal representation at an affordable price and customer service you will not find elsewhere. We are reliable, approachable, honest and attentive. Helping your family and business is our priority.

The term “Property”” includes everything you can possibly own. You or your assets have the potential to harm someone or something in some way, either actively or passively. Consequently, if that happens, you’re probably on the hook unless you planned ahead. Forming a business entity, such as a corporation, does limit your personal liability in some ways, but leaves you extremely vulnerable in other ways.

Fortunately, you can protect yourself, your family, your business and your assets. Asset protection planning involves taking advantage of debtor friendly laws, especially in Florida, in order to minimize your exposure to personal liability. I’m talking about maximizing your use of assets that are deemed “off limits” to creditors. It also includes covering all your bases such that you and your properties are both isolated and insulated from each other. An effective plan also requires using the combination of several business entities and trusts.

I’m pleased to share with you that asset protection is NOT necessary for everyone. But if you’re serious about protecting your assets, you need an asset protection plan. Asset protection is relevant to estate planning because they overlap significantly. An effective plan will have your estate plan built-in so your business and estate transitions smoothly to subsequent generations.

There are many types of assets that are “off limits” to creditors. Yes, certain retirement accounts are one of those assets. We work with financial professionals and accountants to ensure that you are fully taking advantage of all available asset protection vehicles (creditor exempt assets) to protect your family and business.

Can a retirement plan protect my assets? [South Florida Law Firm — Haimo Law]
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Planning for retirement is crucial to living comfortably during the later stages of life. One of the most important parts of retirement planning is protecting your hard-earned assets. To do this, various retirement plans may be used to ensure that your assets are protected in the event of unforeseen future events such as bankruptcy or divorce.

Different retirement plans offer various asset protection benefits, but some of the most common and effective include 401(k)s, Traditional and Roth IRAs, and annuities. These plans, when properly established and maintained, can help to safeguard your assets from creditors, potential lawsuits, and other legal challenges.

The 401(k) plan is one option for retirement plan protection. A 401(k) is an employer-sponsored retirement plan that allows employees to invest a portion of their income towards retirement savings. These funds are held in a trust, so they are not subject to seizure by creditors or other legal action. The same applies to Individual Retirement Accounts (IRA’s) such as the Traditional and Roth IRA’s, which allow individuals to make contributions towards retirement savings, thus offering additional benefits for asset protection.

Another option for retirement plan asset protection is annuities. An annuity is a contract investment product that guarantees a steady income stream over a defined period. Annuities are typically used to provide a guaranteed income stream during retirement, but they can also be an effective tool for asset protection. Annuities are often protected from both creditors and legal action, which can help to secure your assets in the event of an unexpected event.

Overall, it is critical that you consult with a knowledgeable and experienced attorney who understands the various retirement plans and how they can protect your assets. The South Florida Law Firm, Haimo Law, offers decades of experience in assisting clients with asset protection planning, retirement planning, and other legal issues.

By working with a skilled attorney, you can establish and maintain a retirement plan that offers comprehensive asset protection. This will provide you with peace of mind, knowing that your hard-earned assets are safeguarded from any potential legal challenges.