Homestead After Divorce
A common asset protection question is what happens to a Florida homestead upon divorce.
Florida Asset Protection Law Blog
Can an Irrevocable Trust Own Homestead Property?
I received an email asking whether the homestead provisions of the Florida Constitution would protect a residence owned by an irrevocable trust where the debtor had deeded a house into the trust and remained the trustee and one of the beneficiaries.
Does Moving to Nursing Home Forfeit Homestead Protection?
Does an elderly person lose Florida homestead protection when they move out of their house and in to a nursing home?
Recreational Vehicle As Homestead Property
I researched an interesting homestead issue today for a client who is considering selling his current single family home and using the proceeds to buy an expensive recreational vehicle which would become his principal residence. The question is whether a recreational vehicle can qualify as a protected homestead under Florida…
Is Homestead Protection Lost During Reconstruction?
What happens to homestead protection if a Florida debtor moves out of their home and then demolishes the entire structure? A client presented that question about Florida homestead protection.
Homestead Ownership During Construction
A caller wanted to purchase a residential lot and then build on the lot his primary residence. The caller was about to go into default on a substantial amount of credit card debt and was concerned about creditors taking the lot prior to his ability to complete and occupy a…
Homestead Size Within A City
A caller asked me to explain the Florida homestead law limitation on the size of lots protected from creditors.
LLC Planning and Due on Sale Issues
Asset protection plans which involve real estate include transferring title to real estate parcels to one or several newly created limited liability companies. When the real property being transferred to the LLC is subject to a mortgage these title transfers for asset protection purposes raise the issue of so-called “due…
Tenants by Entireties Ownership of Automobiles Not Possible
It may be impossible to own a automobile as tenants by entireties in the State of Florida based on a decision entered December 3, 2004, by the Fifth District Court of Appeal in the case of Vongsack Xayavong and Damomonh Xayavong v. Sunny Gifts, Inc.
Choice of Business Entity For Attorneys and Doctors
A professional cannot use a corporate shield to protect himself from malpractice. A professional is anyone who under Florida law is required to obtain a license in order to practice their trade. Florida statutes provide for distinct entities engaged in a professional business. These entities are a Professional Corporation or…
