St. Augustine Asset Protection Lawyer
Protecting What You’ve Worked Hard to Build
When you’ve dedicated your life to building wealth, growing a business, and securing a future for your loved ones, the last thing you want is to see it all put at risk. Lawsuits, creditors, divorce, or unexpected financial hardships can quickly threaten everything you’ve earned. At Owenby Law, P.A., our experienced St. Augustine asset protection attorney helps individuals, families, and business owners safeguard their financial future through effective legal strategies tailored to their needs.
Call (904) 674-8779 or contact us online to let our team help you.
What is Asset Protection?
Asset protection is the legal process of structuring your finances, property, and business holdings to minimize exposure to risks such as lawsuits, creditors, or other claims. It is not about hiding assets or avoiding legitimate obligations. Instead, asset protection focuses on using lawful tools to make it more difficult for others to access your wealth.
Common situations where asset protection is important include:
- Business ownership – Protecting personal assets from business liabilities.
- Real estate holdings – Shielding investment properties from lawsuits.
- Medical professionals or high-liability careers – Reducing exposure to malpractice or negligence claims.
- Estate planning – Ensuring your heirs inherit assets as intended, not lost to creditors.
By working with our St. Augustine asset protection lawyer, you can create a proactive plan that shields your hard-earned wealth while keeping you compliant with Florida law.
How to Protect Assets
There are many effective methods for protecting assets. The right strategy depends on your financial situation, the types of assets you own, and your personal or business risks. Some of the most common approaches include:
- Revocable Living Trusts – Primarily used for estate planning, though they provide limited protection against creditors.
- Irrevocable Trusts – Offer stronger protection since assets are no longer considered part of your personal estate.
- Domestic Asset Protection Trusts (DAPT) – Can safeguard wealth from creditors while allowing you to benefit from the trust.
Business Entities
- LLCs (Limited Liability Companies) – Protect personal assets from business debts and lawsuits.
- Corporations – Offer liability protection but require strict compliance with corporate formalities.
- Family Limited Partnerships (FLPs) – Useful for transferring wealth to family members while protecting assets from creditors.
Homestead Exemption
Florida has one of the strongest homestead protections in the country, shielding your primary residence from most creditors.
Retirement Accounts
Many retirement accounts, such as IRAs and 401(k)s, receive significant protection under Florida and federal law.
Insurance Coverage
Umbrella insurance policies, malpractice insurance, and liability coverage are crucial first steps in any asset protection plan.
Prenuptial and Postnuptial Agreements
Protecting assets in the event of divorce is also an important part of long-term planning.
Each of these tools has strengths and limitations. An asset protection attorney in St. Augustine can evaluate your circumstances and recommend the best strategy for your situation.
Benefits of Asset Protection
Asset protection is more than just a legal safeguard—it provides peace of mind and financial stability. Key benefits include:
- Lawsuit Defense – Discourages potential plaintiffs who see that your wealth is legally shielded.
- Financial Security – Protects your family’s future even in the face of unexpected claims or debts.
- Estate Preservation – Ensures your assets pass to your heirs instead of being lost to creditors.
- Business Stability – Shields your company from personal financial risks and vice versa.
- Negotiating Power – Protected assets often lead to stronger positions in settlement discussions.
- Peace of Mind – Knowing that your wealth is secure allows you to focus on growing your business and enjoying life.
Asset Protection FAQs
Is asset protection legal in Florida?
Yes. Asset protection uses lawful strategies permitted under Florida and federal law. It is not about hiding assets—it is about structuring ownership and financial plans in a way that reduces risk.
When should I start asset protection planning?
The best time to begin asset protection planning is before a lawsuit or claim arises. Courts often view last-minute transfers as fraudulent. Planning early ensures your strategies hold up under legal scrutiny.
Can I protect assets if I already have a pending lawsuit?
While options are limited once a claim is filed, there may still be lawful steps you can take. However, it’s much more effective to start asset protection well before legal problems arise.
Does Florida’s homestead exemption protect all types of property?
No. The homestead exemption only applies to your primary residence, not investment properties or vacation homes.
Can business owners in St. Augustine protect personal assets from lawsuits?
Yes. Structuring your business as an LLC or corporation can help separate personal wealth from business liability, though proper management and compliance are essential.
Do I need an attorney for asset protection?
While some strategies, such as insurance coverage, can be done independently, comprehensive asset protection requires legal expertise. An experienced St. Augustine asset protection lawyer can ensure your plan is effective and enforceable under Florida law.
Contact us at (904) 674-8779 today to schedule a consultation with a trusted St. Augustine asset protection lawyer.
