Florida Asset Protection Blog

Recent Posts from Florida Asset Protection Blog

• This Floridian's Annuity Proceeds May Not Be Creditor Protected

  Annuities are exempt in Florida, and so are annuity proceeds. A client consulted with me today regarding assets which include a bank account, in his own name, which account contains $20,000 of annuity proceeds. There…

• Builders' Retroactive Tax Refunds Must Be Protected From Current Creditors

  I read an article in the N.Y. Time Week in Review section about the government’s expansion of tax breaks to home builders. The government is permitting builders to amend tax returns and use losses incurred…

• Exemption Of V.A. Disability Payments And A Military Thrift Savings Plan

  "thrift savings plan" "V.A. Disability"

• Lender Pursues First Mortgage Deficiency Judgment

  mortgage deficiency judgment

• Deeds In Lieu Of Foreclosure : Make Sure Lender Is Offering The Real Thing

  Each week I talk to several people about negotiating a deed in lieu of foreclosure with their mortgage lenders. Like so many people around the county, these clients are experiencing problems paying mortgages on their…

• Garnishment Of Homestead Reverse Mortgage Payments

  During this past week I met with a new client who had recently been subject to a money judgment from a credit card company. The client, retired, had a reverse mortgage on his homestead which…

• Deferred Compensation Is Not Protected As Pension Or Wages To Head Of Household

  Retirement plans are protected from creditors in Florida, except when the "retirement plan" is not a retirement plan. Consider, for example, a client who told me about his "Senior Executive Retirement Plan (SERP)." Initially, I…

• Garnishment of Alimony

  A judgment creditor threatens the debtor to garnish her alimony payments she receives from her ex-husband on a monthly basis. The debtor depends on the alimony to pay her mortgage an other household expenses. The…

• Mortgage Modification: An Explanation Of Why Lenders Prefer Foreclosure Of Delinquent Mortgages

  A good percentage of my clients over the past three years have been trying to save homes from foreclosure by modifying their mortgages. Successful modifications are becoming more common, but still, the vast majority of…

• Nevada Law Helps Asset Protection Planning With Some Partnerships And LLCs

  The 2009 Nevada legislature passed an interesting estate planning statute designed to increase the effectiveness of family limited partnership (FLP) and family limited liability companies (FLLC) for estate tax planning. The bill, SB 350, went…