“Whatever your worth, if that’s what you’ve got, it’s everything and you’ve got to protect it.”
— Eric Lanigan, Lanigan and Lanigan, P.L.

Any business that holds assets needs to evaluate how best to structure those assets, so that if the primary business gets sued, there’s nothing available in a judgment. It’s not only individuals in high risk industries, but small, medium and large businesses that should have assets protected.

Why Asset Protection?
Protecting assets from potential creditors is important because any seemingly small financial distress can put a business into bankruptcy, sometimes followed by a complex foreclosure. If you’ve planned ahead, your assets are protected. But what if they’re not? You’ll have to rely on an attorney’s ability to negotiate and have knowledge of Florida law in regards to your particular situation.

Proper asset protection is the difference between being sued or losing everything because it wasn’t protected. The goal is to be judgment proof and thus, still remain in business. A business can be restructured so that should a lawsuit hit it can remain in business.

What is Asset Protection?
Eric and Roddy Lanigan provide effective, honest and ethical asset protection strategy to help protect you or your company by preventing losses that can occur due to litigation.

Proper asset protection is not hiding assets. It’s protection of assets in plain view where creditors, litigators cannot access them. It’s legal protection of property and revenue.

“It’s not about lying or hiding assets. There will never be an asset protection situation where I’m going to have to sit there and listen to a client lie. Because if they are lying, what good are we to them? It’s saying that this is exactly where everything is–and you can’t touch it.”

Who Needs Asset Protection
Personal asset protection is needed by people in high risk professions. Doctors, architects, engineers, lawyers. It’s for people in positions that are considered high risk, but not necessarily high net worth.

Why Do Companies Need Asset Protection?
Structuring a business and how a business holds assets is a key component of asset protection. A business can be made “judgment proof” just as an individual can be made “judgment proof.”

For example, if the company gets sued or individual get sued in a frivolous or legitimate lawsuit, your assets, if properly held, can’t be touched and you’re what’s described as judgment proof.

Lanigan and Lanigan, P.L. helps clients protect assets with honest and ethical solutions, including offshore trusts. Attorneys Eric and Roddy Lanigan each have a strong background in the financial industry and securities law and can provide the skilled legal advice and counsel that your situation deserves. They are committed to helping clients achieve their goals.

Eric and Roddy Lanigan view many companies facing a creditor but because the assets are vulnerable it’s a lopsided situation with no steps taken to protect the company at all. The companies aren’t prepared for financial challenges. These companies could have instead benefited from hiring an attorney in the beginning to personally oversee the placement of all their assets.

Overseas, there’s much more of a tendency to hire an attorney to perform those tasks in the beginning.  In America, unfortunately, the tendency is to fill out the necessary paperwork with the state and open a checking account. If you’ve done so, your company might be in trouble without even knowing it.

What Are the Benefits of Asset Protection for New Companies?
Lanigan and Lanigan, P.L., have the experience to setup your company or corporation or restructure your corporation, where a creditor or a lawsuit is not going to stop you from doing business as usual.

Many times a company is facing a creditor and these companies could have benefited from hiring an attorney to personally oversee the placement of the assets before they start the business. The Lanigans are experienced in structuring a business where no one will be able to touch company assets.

Companies of All Sizes Need Asset Protection
When launching a business of any size, don’t just fill out paperwork, open a checking account and start business because all of your assets are vulnerable. Your company vehicles, buildings, bank accounts, tools, supplies, inventory, can all be protected from outside legal threats with simple planning. Start out on the right path and securely retain your investments. 

Asset Protection Options: Offshore Trusts
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, while also providing additional investment opportunities with significant tax advantages. Investors can make direct investments in foreign stocks and have unlimited investment options without the restrictions and regulations of the Securities and Exchange Commission (SEC).

Setting up an irrevocable offshore trust or another form of offshore investment vehicle is a legal process requiring an experienced and knowledgeable attorney. Working in concert with Lanigan and Lanigan, P.L., overseas contacts ensures that every aspect of asset protection implementation is done legally and effectively. Eric and Roddy communicate directly and openly with you about benefits or liabilities inherent in your plan.

Asset protection should begin when a business is launched. No matter the value, the preference is to pre-plan because timing is everything. Asset protection is like homeowners insurance: once you smell the smoke, or the house is flooded it’s too late. Once you’re in a lawsuit or your business goes into bankruptcy, it’s over.

A business facing creditors, bankruptcy or a lawsuit is sometimes beyond saving. Had asset protection and planning been in place, the business could have been restructured and protected from being sued and assets safe and sound.

How Should a Business Plan for Asset Protection?
One of the things that Lanigan and Lanigan, P.L., do is structure companies. When a small company is forming, not only should owners hire an attorney to file the corporate paperwork with the government, but also hire an attorney to structure the company; put certain blocks in certain places. This is done to protect a company from a situation where they might experience a financial hardship, a hiccup down the line somewhere.

Florida businesses should take note of this when forming a company. It’s more than filing the corporate paperwork, filing an LLC with the state, opening a checking account and starting operation is not generally a good idea.

What Can an Asset Protection Attorney Do to Help a New Company?
There are a lot of things a lawyer can do in structuring the company to protect its assets should the company ever get into distress.

Lanigan and Lanigan, P.L., find that many Florida companies could have benefited from hiring a law firm early. Businesses have not been correctly advised on how to setup, how to operate and as a result they’re lambs for the slaughter so to speak. If a company wants to keep its doors open and it doesn’t want a mild creditor or a lawsuit to shut down an organization, it should consult with an attorney for plans to legally protect the company.

Contact Lanigan and Lanigan, P.L., to find out how asset protection methods can protect and secure your business from financial difficulty or a lawsuit, before trouble appears.