The most widely used entity in Florida for asset protection is the LLC. The reason for this is that the LLC provides a lot of flexibility plus adding the much needed asset protection.
The LLC also allows you to make certain tax elections depending on the type of business or assets that the LLC holds.
There are two types of limited liability protection in LLC’s, inside and outside protection. Inside limited liability protection applies to the acts of the limited liability company. Outside limited liability protection applies for act of the members who own the LLC, and the ability of the member’s creditors to attack the LLC.
An outside creditor is limited to a charging order in Florida when the LLC has 2 or more members. This means that your creditor can only attach the distributions made to you in LLC and cannot foreclose your interest in the LLC. A properly drafted Operating Agreement can add even more protection.
If you want to know more read LLC’s Limited Liability Protection.