Asset Protection in West Palm Beach

Creditors have many tools at their disposal for recovering debts and they will not hesitate to use any means within the law to do so. If you are having problems with creditors or even considering bankruptcy, a West Palm Beach asset protection attorney may be able to help. For over 20 years, attorney Gregg R. Wexler has helped his individual and business clients defend their assets from creditors through federal bankruptcy proceedings and other state remedies. His firm focuses on helping clients move past debt and get a fresh start.

Asset protection under Florida law

Florida law makes a number of assets exempt from attachment by creditors. The State Constitution of Florida exempts certain property from sale to satisfy any debt, excepting tax assessments and debts incurred in purchasing or improving the property. This provision can protect your actual residence—or homestead—as well as a limited amount of personal property from forced sale under a judgment lien or other judicial process. A homestead may be up to one-half acre within a municipality or 160 contiguous acres without. This provision also protects personal property up to one thousand dollars.

Florida law also protects a number of personal assets from attachment by creditors, including the following:

Wages of a person serving as the head of a family
Proceeds or cash surrender value of a life insurance policy
Proceeds of annuity contracts
Health, accident, or disability insurance proceeds

Assets in a qualified tuition program
Educational IRAs and health savings accounts
Interest in a motor vehicle, up to one thousand dollars
Professionally prescribed health aids

These generous protections are available to permanent residents of the state of Florida independent of the bankruptcy process. As a West Palm Beach asset protection lawyer, Gregg R. Wexler can explain these protections in detail, including how they apply to your personal situation. The West Palm Beach bankruptcy attorney can help you take the steps necessary to assert these protections to prevent levies and stop forced sales.

Asset protection through bankruptcy

For some clients, Florida’s statutory asset protection may not be enough. Gregg R. Wexler can examine your financial situation and advise you if bankruptcy may be your best option. Bankruptcy can stop collection actions, discharge unsecured debt, and stay foreclosure proceedings. He represents individuals going through both Chapter 7 liquidation bankruptcy and Chapter 13 personal reorganization. He can advise you of the benefits and drawbacks of each type and help you determine a plan of action based on your personal financial situation.

Contact attorney Gregg R. Wexler for experienced debt-relief advice

The Law Offices of Gregg R. Wexler, P.A. have been providing debt relief, asset protection, and bankruptcy representation since 1989. He is also an experienced personal injury attorney, representing clients throughout Florida in a variety of negligence matters, including automotive accidents, slip-and-fall, wrongful death, and products liability. He maintains offices in both West Palm Beach and Port St. Lucie and serves clients throughout southern Florida. Potential clients can contact him by phone at 561-629-1556 or contact him online to arrange a free consultation. His staff speaks both Spanish and Creole.