Opening a small business is no easy feat. Incorporating, forming a partnership, launching a 501©3, opening a store, leasing a location, building a new medical practice requires more than a bank account, and getting a state, county, city license and tax identification number.
While organizing and filing the proper paperwork is imperative to forming a business in the state of Florida, business ownership and starting a business includes asset protection which requires a meeting with an experienced asset protection attorney.
Finding money to defend a business from a lawsuit is not on the list of things to do unless assets are left unprotected. Asset protection is one of the first things that Winter Park, Florida, law firm Lanigan and Lanigan recommend for new business owners.
Asset protection is the legal protection of assets: property, savings, investments, cars, homes, etc., and if you’re sued you won’t losing everything.
It doesn’t matter if you own a lot or a little, but if you’re a small business that gets sued, anything that you own can be lost in a settlement. Secure the future of a business no matter if you’re independently wealthy, launching with bank loans or saving every penny that comes in, by meeting with Eric Lanigan or Roddy Lanigan for asset planning.
An asset protection lawyer can structure the company from start to finish, the right way, to protect its assets should the company be sued.
If you don’t believe a lawsuit can happen to you, there are millions of people sued every year. It’s estimated that a new lawsuit gets filed every 30 seconds and there are over 100 million lawsuits active right now in the U.S. court system.
What can be lost if a business is sued:
- Inheritance and future inheritance
- Property that is co-owned by a wife or a husband or a couple or family can be taken
- Investments in the business name
- Personal savings
- Company equipment including vehicles, computers, kitchen equipment, tools, etc.
Asset Protection is the legal protection of assets to keep them secure from creditors. There are various methods for asset protection including:
Offshore trust: One of the most effective methods of asset protection is the offshore trust. Offshore trusts allow individuals to safeguard assets from potential creditors and litigation.
Business structuring: Lanigan and Lanigan will help determine what form of business should be formed based on financial.
Delaware law: Delaware permits the establishment of a special type of irrevocable trust that when properly done may protect your assets from creditors.
Don’t risk the dream of opening and running a new business without first protecting the business through an asset protection meeting with Winter Park, Florida, lawyer Eric Lanigan. Meet with Orlando, Florida, lawyer Roddy Lanigan to determine what’s best moving forward for your business.