STUART ASSET PROTECTION ATTORNEY
Fighting to Protect Your Assets & Property
If you have decided to file for bankruptcy, you must understand the way that federal and state bankruptcy laws will affect your ability to keep your assets and property. One of the most frequently asked questions about bankruptcy revolves around what will happen to the assets and property of the individual or family, and the answer to this question largely depends upon the type of bankruptcy that they file for. A new federal law regarding asset protection was recently passed, and a Stuart attorney from our firm can walk you through the intricacies of this new bankruptcy law and how it can be used for your benefit.
Asset protection in Florida is a process that is used to safeguard your assets from creditors and lawsuits. While it is best to protect your assets and income before an issue arises, a skilled attorney from our firm can also protect your rights after financial issues have arisen. In the past, we have protected clients from lawyers, creditors, foreclosure deficiencies, and other individuals who are trying to take their assets.
Call a Stuart asset protection lawyer!
The Florida Constitution exempts homestead property from levy and execution by most creditors, and this is an excellent asset protection tool that can be used in a wide variety of situations. As long as the property qualifies as homestead, the amount of assets that can be protected under the law is not limited. The Bankruptcy Reform Act of 2005 ruled that debtors in bankruptcy may lose all or a portion of the homestead protection and capped the protection available at $125,000 under certain circumstances. This law also created protection for funds in 529 plans, which are state-operated investment plans that allow parents to save money for college tax free. There are numerous other regulations that apply, and a talented attorney at our firm will help you accurately assess your property values prior to filing for bankruptcy.
Contact a Stuart asset protection lawyer at Crary Buchanan today to discuss your financial situation and the many ways that we can protect your assets.