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 protection.

Delaware Series LLC

I spoke with a California attorney today about her client’s interest in a Delaware Series LLC. The client was a real estate investor with over 25 different rental properties. The attorney asked whether a Delaware Series LLC was an effective asset protection solution for this client. 

LLC Fails To Protect Owner Against Negligence

A limited liability company does not provide blanket protection against personal liability. According to a recent decision by Florida’s Second District Court of Appeals the managing member of a LLC can be held personal liability for negligent actions without a piercing of the corporate veil. Estate of Canavan v. National Healthcare Corp.

Using Receivership to Collect Judgement

One of the biggest asset protection mistakes is underestimating the skill, intelligence, and resolve of creditors and their attorneys. My representation of a current Florida client provides a good example of creditor creativity.

Wage Protection Umbrella: How Large?

Florida Statute 222.11 protects from garnishment salary of unlimited amounts earned by a head of family. The statute defines a “head of family” as someone who provides more than 50% of the support for a child or other dependent.

Tenants By Entireties With California Spouse?

A client presented today an interesting question which I can not answer with any certainty. The well-established rule under Florida case law is that tenants by entireties property (property owned jointly by husband and wife) is immune from creditors of either spouse individually, but the property is not protected from joint creditors. This particular client …

Tenants By Entireties With California Spouse? Read More »

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.

Limited Liability Partnerships

I’ve said this many times and to many people, but it needs to be repeated. In 1999, the Florida legislature pased CS/HB 361 amending Florida Statutes 620.8101 to provide, among other things, for limited liability partnerships (LLP) and limited liability limited partnerships (LLLP).

Scroll to Top