Clients often want to know whether they can still do asset protection planning after a judgment is entered against them. The answer is yes in many cases. As an example, suppose an elderly lady had guaranteed her son’s business loan which the son could not repay when the business failed….
Tenants by entireties and retirement accounts are popular and effective asset classes that are exempt from creditors under Florida law. In both cases, married individuals have an interest in each other’s assets, either as co-owners or as a beneficiary. The termination of the marriage can affect the protection that these…
A vacation home LLC is a family business that allows a vacation home owner to pass down their property, specifying how the property can be used and how decisions will be made. Many people from northern states and retirees from all over own vacation homes in Florida. Florida vacation homes…
Protecting real estate after a lawsuit is filed against you is relatively difficult. Creditor collection remedies targeting real estate are easy and effective, and that real estate is fixed in place and cannot be moved beyond the jurisdiction of the court enforcing a judgment. The creditor’s recording of a final…
In Florida, a default judgment can be entered when a defendant is served with a lawsuit but does not respond in time. A plaintiff can ask the judge to enter the default judgment in their favor without a hearing and without any further notice to you other than the initial…
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 can be taken by a judgment creditor. Many people believe cryptocurrency, such as bitcoin, might be the…
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…
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…
One of our clients asked us whether he could protect his investment in a newly purchased luxury car by taking title to the car in a “car trust.” The client had found an online article written by an attorney stating that a car trust would protect from judgment creditors vehicles…
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…
