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.
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 …
According to judicial decisions in Florida a person who served as trustee of a trust which held real property for the benefit of another person could expose the real property to the trustee’s personal creditors. These cases held that real property titled in the name of a trustee belongs to the trustee in his individual …
The homestead protection afforded Florida residents is being tested in a Florida bankruptcy proceeding.
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.
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).
The Spring 2004 edition of the American Bar Associations’s Real Property Journal included an interesting comparison of homestead laws of different states. It is well known that Florida and Texas have the most protective homestead provisions in their state constitutions.
Florida Statute 222.14 protects annuities owned by Florida residents from creditor claims and judgments. Some people have asked whether variable annuities are included under the same statutory protection.
Florida Statute 222.21 protects from creditors financial assets that qualify under specified sections of the Internal Revenue Code to include most IRAs, 401k plans, and other common tax “qualified” retirement plans.
In the case of In re Shilo, Case No. 03-9358, Judge Jenneman issued an Memorandum Opinion which held that a car owned by married couple as husband or wife with rights of survivorship is not legally owned tenants by entireties and is not exempt from the husband’s individual creditors.