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 is threatened or a trial is pending. In general, any creditor of a transferor of real or personal property may seek.
Florida has recently adopted the comprehensive Uniform Fraudulent Transfer Act and this Act should be consulted before any action is undertaken by the individual or his or her advisors (Florida Statutes Chapter 726.01 et. seq.).
While a complete examination of the law regarding ‘fraud on creditors’ is beyond the scope of this Article, in general, the further in advance of any potential claim the measures outlined herein are undertaken, the better the chance of the transfer not being voided by a court of law.