Homestead Size Within A City
A caller asked me to explain the Florida homestead law limitation on the size of lots protected from creditors.
Florida Asset Protection Law Blog
Homestead Protection for Duplex
A reader described a situation where a debtor owned and resided in ½ of a duplex and where the other owner did not reside in the other half unit. The reader asked whether the debtor could protect the entire building under Florida’s homestead laws because the entire building was located…
Changing Your Name to Avoid Creditors
A caller asked me if a debtor could protect assets by legally changing his name and then conveying assets to his new legal name. He reasoned that this would not be a fraudulent conveyance because he was transfer title to himself, just under a new name.
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…
Homestead Protection Against Collection of Alimony
The Florida homestead exemption defeats almost all creditors, but there are narrow exceptions (IRS debt being the most common). Occasionally, people asks whether an ex-spouse can force the sale of or impose a lien on a homestead to enforce the collection of past-due alimony.
Homestead: a “State of Mind”
A speaker at a legal seminar on Florida asset protection law, when discussing homestead protection in Florida described homestead as a state of mind.
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.
Tenants by Entireties Joint Living Trust
I received an email from an attorney seeking my opinion on a joint revocable trust for the benefit of a husband and wife as tenants by entireties under Florida law. The issue is whether a couple can enjoy the asset protection of tenants by entireties within the framework of a…
Delaware Series LLC Bookkeeping Requirements
The Delaware Series LLC is becoming a popular legal tool for asset protection. Delaware Statute 18-215 states that limited liability company may establish or provide for one or more designated series of members, managers, or interest each having separate rights, powers or duties with respect to specified property or LLC…
Homestead Protection of Multi-Family Investment Building
A caller asked me if he could qualify for homestead protection if he bought a four unit building, lived in one unit, and rented out the other three. One principal under Florida case law is that the rental of a room in a homestead property will not disqualify the homestead…
