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Florida’s Fraudulent Transfer Law

Category: Asset Protection, Estate Planning |

As a caveat to all of the recommendations outlined herein, there is a risk that a transfer designed to reduce the risk of claim by a creditor could, by itself, be deemed a fraud on all creditors. This is particularly true when a judgment has already been obtained by a creditor or when a claim Read More…

Individual Retirement Plans & Disability Insurance

Category: Asset Protection, Estate Planning |

Annuity and life insurance products (within certain limitations) can be used not only as personal investments but also for pension plan purposes. Thus, Individual Retirement Account plans, as well as defined contribution, profit sharing and KEOGH Plans could invest part or all of the plan assets in annuities for the participant. If each participant were Read More…

Joint Purchase & Remainder Interests

Category: Asset Protection, Estate Planning |

Although not a trust, the Joint Purchase Concept is similar to a remainder trust in its protective effect. Here, the individual purchases a life estate in the asset (e.g. stocks, bonds, real estate or other income producing investments) and the children of the individual (or another third party) purchases the remainder interest in the property Read More…

Trusts, Sales, and Gifts to Protect Assets (Part 2)

Category: Asset Protection, Estate Planning |

Certain other types of trust, particularly when coupled with spendthrift language, may protect certain assets from the claims of creditors. These include ‘remainder trusts’ and ‘trust-like arrangements’ such as Joint Purchase Agreements (which may or may not be structured as a formal trust). With a remainder trust, the at-risk individual is the beneficiary of only Read More…

Protect a Florida Residence from Creditors (Part 3)

Category: Asset Protection, Estate Planning |

Finally, the third most common method of protecting a personal residence is to convey it to the individual’s spouse. This affords protection since the individual’s creditors generally cannot reach the spouse’s assets. This would offer the at-risk individual control in the overall entity (as General Partner) yet limit his or her exposure. To remove assets even Read More…

Protect a Florida Residence from Creditors (Part 2)

Category: Asset Protection, Estate Planning |

The second most common method of protecting the personal residence is by using the Florida Homestead Exemption. (Article X, Section 4, Constitution of the State of Florida). Within certain limitations as to the size of the property (1/2 acre of a municipal homestead or up to 160 acres of a non-municipal homestead), the personal residence Read More…

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