Asset Protection

Can a Car Owner Be Sued for Another Driver’s Accident?

In Florida, the owner of a vehicle can be held liable for a car accident caused by someone else driving their car. However, the liability is limited to $100,000 per person for bodily injury, but up to $600,000 if the driver is insured for less than $500,000. The legal basis…

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Can Creditors Take Your Bitcoin?

Bitcoin Garnishment Explained In most cases, bitcoin and cryptocurrency can be garnished by judgment creditors. It is a common misconception that bitcoin and other cryptocurrencies cannot be garnished. Bitcoin accounts held at U.S. institutions like Coinbase actually can be taken by a judgment creditor. Many people believe cryptocurrency, such as…

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…

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…

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…

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…

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Using a Foreign State’s Domestic Asset Protection Trust Law in Florida

Some states, not Florida, have statutes that encourage asset protection trusts. These states’ statutes provide that if a debtor establishes an irrevocable trusts for their own benefit the assets that the debtor conveys to his trust are protected from his creditors. The trustmaker must reside or have significant assets in…