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Category Archives: Asset Protection

Don’t Lose Those Homestead Protections

By David Toback |

Florida’ constitution provides broad protection for a homestead. Your homestead is generally protected from creditors, and protected even from bankruptcy courts. A homestead is generally considered a great asset protection mechanism, and there are also very significant breaks on taxes for homestead properties. A family only gets to declare one homestead (other than those… Read More »

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Plan Now to Avoid Medicaid Problems

By David Toback |

For many with moderate to lower incomes, Medicaid can be the difference between life and death, and the difference between being able to get into a good long term care facility, or being left in the cold. Many people don’t realize it, but many financial decisions that they may make throughout their younger years… Read More »

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Get the Most From Large Settlements

By David Toback |

If you are expecting a personal injury settlement, or any kind of settlement that could wield a significant sum of money all at one time, the last thing on your mind may be taxation of those funds, or how to invest them. But knowing some ins and outs of planning for a lawsuit settlement… Read More »

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Are You Personally Liable for the Debts of Someone Who Passes Away?

By David Toback |

There is often nothing more catastrophic than the passing of a loved one. However, that trauma is often exacerbated by debt, and what happens when creditors of the deceased come looking to you to collect debts. Often, collectors will blindly look to the survivors to pay the decedent’s debts. Knowing your rights can help… Read More »

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Some Estate Planning Tools to Consider When Planning for Minors

By David Toback |

Its pretty common—and in fact pretty normal—for someone to want to provide for their children when the kids grow up. Surely, you can stuff money in a savings account or a mutual fund or some other investment vehicle. But the problem is that if you keep the funds in your name, they could be… Read More »

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Don’t Ignore Intellectual Property When Planning an Estate

By David Toback |

What does the 1980s classic movie “Back to the Future” have anything to do with estate planning? A recent lawsuit involving an icon in the famous movie is a good reminder about planning for assets you may not think about right away. Lawsuit Involves Iconic Movie Car The case involves a lawsuit by John… Read More »

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Your Homestead Status Could Be at Risk in a Divorce

By David Toback |

Most of us have heard of Florida’s strong homestead protections—specifically, that homestead property is exempt from creditors, both those that may appear during your life, and those that may make claims on your estate after you pass. The protection is in the Florida constitution and is one of the strongest protections that Florida residents… Read More »

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Could Getting Married Cost You Government Benefits?

By David Toback |

Now that the right to marry has been extended to all people, it’s tempting and understandable for many couples to rush to tie the knot. We’ve previously discussed how many standard estate planning documents may need to be altered or created when a couple gets married. But planning for marriage goes beyond just altering… Read More »

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Using an Irrevocable Trust as an Asset Protection Tool

By David Toback |

If you have assets that you want to make sure are enjoyed by your family for years to come, even after you’re gone, you may have heard what a valuable tool a trust can be. As the name implies, a trust holds property in trust for the use and enjoyment of the people you… Read More »

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Careless Language Can Expose Exempt Assets to Creditors

By David Toback |

In the world of estate planning, there’s good planning, no planning, and bad planning. In many cases, the third can lead to assets and property being taken by creditors, instead of being passed to your intended beneficiaries. Life Insurance Exemptions Florida provides for certain assets to be exempt from claims of creditors when you… Read More »

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