Broward County, Florida, is a dynamic and diverse region known for its beautiful beaches, bustling cities, and thriving economy. Home to communities like Fort Lauderdale, Hollywood, and Pembroke Pines, the county attracts retirees, business owners, and professionals who have worked hard to build and maintain their wealth. Whether you own a waterfront property along the Intracoastal Waterway, operate a successful company, or have accumulated substantial retirement savings, estate planning is essential to safeguarding your assets and ensuring they are distributed according to your wishes. Without the right legal protections in place, your wealth could be vulnerable to creditors, lawsuits, or unexpected financial challenges.

An asset protection attorney in Broward County specializes in helping individuals and families secure their income, savings, and property from potential legal claims. A knowledgeable asset protection attorney in Broward County understands how creditors may attempt to access assets and is well-versed in Florida’s estate planning laws, which provide strong protections for residents.

At The Millman Law Group, Aaron D. Millman, Esq., CPA, offers strategic estate planning solutions tailored to the needs of Broward County residents. Whether you need to establish a trust, draft a will, or create a comprehensive asset protection plan, our team is committed to helping you protect your financial legacy. Contact an asset protection attorney at The Millman Law Group today to learn more about your options and take the first step toward securing your future.

Why Should Estate Planning Include Asset Protection? 

Creditor protection is essential to estate planning since many Broward County residents have substantial sums of money invested in real estate, retirement accounts, and other financial endeavors. Estate planning involves protecting and conserving your assets while you are still living, in addition to deciding how to divide them up after your death. Your estate may be at danger from the following financial risks: 

• Long-Term Care Costs: If you do not enroll in Medicaid, your family may not have much left over because long-term care expenses have the potential to deplete your fortune.
• Family Conflicts: Expensive inheritance disputes resulting from badly drafted estate plans could wipe out your wealth.
• Lawsuits: Professionals and business owners are regularly at risk of being sued, which could compromise their personal financial stability.
• Creditor Claims: Due to unpaid debts or judgments, inadequate protections may allow creditors to seize assets intended for heirs.

You may ensure that your beneficiaries get a safe and secure transfer of your financial legacy by incorporating asset protection strategies into your estate plan.

Estate Planning Tools to Help You Protect Your Assets

By employing a range of estate planning strategies, the Millman Law Group assists homeowners in Broward County in protecting their assets and ensuring that their estate is distributed in accordance with their wishes.

Revocable and Irrevocable Trusts

Trusts are essential estate planning tools because they protect assets from creditors, hefty taxes, and probate.

• Irrevocable trusts transfer ownership of assets out of your name, offering a strong protection against lawsuits and creditor claims. The usage of irrevocable trusts is a crucial strategy for maintaining wealth and long-term estate planning goals.
• You can maintain control over your assets and ensure that the majority of your estate will not be subject to probate upon your death by creating revocable trusts. However, they don’t provide strong creditor protection.

Protection Offered By Your Florida Homestead

One of the most robust asset protection statutes in the country is Florida’s homestead exemption. You cannot be forced to sell your primary residence by your creditors. Because no creditor may force you to sell your home to pay off a debt, it is a vital estate planning tool for Broward County residents.

By designating your house as your homestead, you can ensure that your spouse, children, or selected heirs can live in a secure and comfortable environment.

Medicaid and Long-Term Care Planning

One of the largest financial risks that Broward County’s elderly population faces is the expense of long-term care. If you don’t prepare ahead of time, the expenses of nursing facilities can quickly deplete your wealth, leaving your heirs with nothing.

Medicaid planning is a legal strategy to protect your assets while you qualify for long-term care benefits. Our attorneys can help you set up a Medicaid Asset Protection Trust (MAPT) or other strategies to ensure you can receive treatment without endangering your financial legacy.

Business Succession Plans

For Broward County business owners who wish to protect their company and ensure its longevity, business succession planning is crucial. Legal problems, creditor demands, or tax obligations could endanger the financial stability of your family and your business if you don’t have a clear succession plan.

Protect Your Wealth with Your Asset Protection Attorney in Broward County

At The Millman Law Group, we know estate planning is more than just creating wills; it’s also about safeguarding your assets and ensuring future generations have financial security. Read our customer testimonials to see how we meet the needs of our clients. Whether you need assistance with setting up asset protection plans, establishing a trust, or preparing for long-term care, our staff is available to help.

Contact The Millman Law Group and Your Asset Protection Attorney in Broward County, FL

Millman Law Group, PLLC is one of the only law firms that offers life planning in South Florida. From life care planning to the preparation of detailed estate plans, Millman Law Group has committed to serving Floridian elderly communities in Boca Raton, Palm Beach County, Ocean Ridge, Hillsboro Beach, and many other areas since 2018. Our dedicated team specializes in special needs trusts and catering to any age demographic because we know that it’s never too early to start preparing for your future. For the latest news in estate planning and elder care law, follow us on Facebook, Twitter, LinkedIn, and Pinterest. You can also contact us at 561-463-6480.