Asset Protection | Garnishment

Can Cryptocurrency Be Garnished?

Many people believe cryptocurrency, such as bitcoin, might be the holy grail of asset protection. They think that cryptocurrency cannot be garnished or seized by a judgment creditor, and they think that cryptocurrency holdings are confidential assets that debtors do not have to disclose bitcoin to creditors. Alas, cryptocurrency may not be as protected as…

Asset Protection

How to Protect Assets Against Federal Agencies Like the FTC and SEC

Federal agencies such as the Federal Trade Commission and Securities and Exchange Commission often pursue individuals for violations of consumer and investor protection laws. The FTC frequently enforces laws regulating telephone or email marketing, and the SEC enforces rules concerning money solicitation for investment.  Federal agency statutes give the enforcement divisions enhanced collection tools not…

Asset Protection

Can a Land Trust Beneficiary Be Sued in Florida?

One of our clients is concerned about his personal liability as the beneficiary of a land trust. The client owns several rental properties in various Florida counties. The client wanted to protect confidentiality of his property ownership, and for that reason he took purchased each property in the name of a separate Florida land trust….

Asset Protection

Asset Protection For Credit Card Debt

Credit card debt is a primary factor leading to personal bankruptcy in Florida. Consumers facing job loss or medical bills often find themselves indebted to several credit card companies. These credit card creditors typically act aggressively to collect unpaid credit card bills. They may contract with professional debt collectors or file lawsuits against their credit…

Asset Protection

Protecting Assets From Medical Bills in Florida

We had married clients recently who suffered from catastrophic medical debt. Several years ago the wife was admitted to a hospital to treat a rare medical condition. The husband and wife had an medical insurance policy offered under the Affordable Care Act. The wife eventually recovered, but the hospital bill was over $250,000. The clients…

Asset Protection

Can a Judgement Against You Affect Your Spouse in Florida?

Florida is a “separate liability state” and a “separate property state.” Separate liability means that each spouse may contract individually with a creditor and incur separate debts, or both spouses may jointly execute a debt contract to pay debts such as a mortgage loan or credit card. One spouse is not liable for the debts…

Asset Protection

Lost Job from Coronavirus in Florida—What to Do First

People are losing their jobs in Florida from the coronavirus pandemic. The COVID-19 coronavirus has already devastated the Florida economy. The entire tourist and convention industry is effectively shut down, and the restaurant industry is almost shut down too. Because these businesses cannot afford to pay their everyday employees many Florida employees will lose their…

Asset Protection

Does Force Majeure Clause Protect Debtor During Covid Epidemic in Florida

Across Florida, small businesses, business owners, and unemployed individuals will experience financial hardship because of the Covid Virus (COVID-19) . Many individuals are concerned about their ability to pay financial obligations such as credit card bills, mortgage payments, and bank loans. Some people will ask whether the unforseeability of the Colvid virus excuses their inability…

Asset Protection

Coronavirus Effect on Economy Could Increase Need for Asset Protection

The outbreak of the COVID-19 coronavirus is just beginning, but already it looks like it will substantially damper the Florida economy. Businesses are closing to the public, people are staying home, service and tourist industry employees are being laid off or are having their hours reduced without pay. And health experts warn that the worst…