Fraudulent transfers are transfers of non-exempt asset to another person or entity to protect the asset from creditors or to deter and impede creditors execution on the asset. A fraudulent conversion is the use of non-exempt asset to purchase or obtain an exempt asset. There are Florida laws that give a judgment creditor the right to pursue reversal of a fraudulent transfer or conversion so as to put the non-exempt asset back in the debtor’s name where it is subject to execution. Florida law does not provide for additional damages or other liability for fraudulent conveyance other than the undoing of the transfer or conversion.
Fraudulent Conveyances What are fraudulent transfers and conversions? The most important issue in any asset protection plan is whether or not previous planning transactions constitute fraudulent transfers or fraudulent conversions (collectively, “fraudulent... Continue reading
Attorney Liability & Debtor Liability Most debtors and their attorneys are concerned about potential personal liability for asset protection planning. Most of the concern relates to prospective transfers and planning which could be deemed to be fraudulent... Continue reading
Many attorneys are reticent about asset protection work because they fear exposing themselves to personal liability for assisting their clients’ transfer of assets to avoid exposure creditor claims. Florida’s fraudulent conveyance statutes do not specifically... Continue reading
Debtor Liability - Can Asset Protection Get You In Trouble Any creditor can attack the implementation of an asset protection plan by alleging that certain transfers of your assets to other people or entities or the investment of money in exempt assets (such... Continue reading
At the Florida Bar's Annual Wealth Protection Seminar on May 16, 2013, in Miami Florida, attorney Jonathan Alper presented, "Where Does Florida Law Stand on Fraudulent Transfers?" The following is an edited transcript of his presentation: ________________________________________________________________________ My... Continue reading