Florida Asset Protection Law Blog

Do You Have to Live in Florida to Claim Head of Household Wage Garnishment Exemption?

Florida Statute 222.11 prohibits a creditor from garnishing the earnings of a debtor who qualifies as head of household. Florida residents working in another state are unable to enforce this garnishment exemptions in foreign state courts because the law does not permit debtors to export Florida’s exemptions. But, is the…

How to Open a Tenants by Entireties Account at a Florida Bank

In general, personal property acquired jointly by spouses in Florida is presumed to be owned as tenants by entireties. However, the rules can get tricky when it comes to opening a tenants by entireties bank account. There are many instances of people who incorrectly believed they had established exempt joint…

Are Employee Benefits Subject To Wage Garnishment?

A client wanted to know if his employee benefits would be subject to a garnishment. Most judgment debtors do not qualify for a head of household exemption from continuing garnishment of salary and wages provided by Florida Statutes. This particular client asked about whether certain forms of compensation from his…

Does Joint Bank Account Become Tenants by Entireties Property When Family Moves To Florida?

Suppose a husband and wife own personal property, a bank account for example, jointly with rights of survivorship in a state that does not recognize tenants by entireties ownership of personal property, and they intend to move to Florida. Florida recognizes tenants by entireties of personal property, and under Florida law all…

Piercing the Corporate Veil in Florida

Piercing the corporate veil refers to the creditor tactic where a creditor with a judgment against a business pierces the corporation and transfers the judgment to the individual owners. Many business owners are worried that their creditors will pierce the corporate veil, putting their family’s assets at risk. One of the…

When Does New Florida Resident Qualify For Florida Asset Exemptions?

Florida law exempts many assets from execution by a judgment creditor including intangible personal property including life insurance and annuities. Section 222.14 of the Florida statutes exempts cash value life insurance, annuities and annuity proceeds that were issued to citizens or residents of Florida. Most other states do not exempt…

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Does a Spouse Automatically Inherit Everything in Florida?

In Florida, a spouse has the right to automatically inherit certain property from their deceased spouse, whether or not they are provided for in a will. Some clients have told us that they have not made a will or a testamentary trust because they had assumed their spouse would automatically inherit all…