Judgment Creditor Can Take Over Debtor’s Lawsuits and Claims

Jon Alper Creditor Rights

A civil judgment is entered against you. At the same time, you are a plaintiff in an unrelated lawsuit where you are pursuing damages against an unrelated third party. Can your judgment creditor take over your lawsuit and apply a recovery to satisfy the judgment? Yes. By first opening a proceedings supplementary under Section 56.29 of the Florida Statutes your …

Amendment of Trust May Be A Fraudulent Conveyance

Jon Alper Uncategorized

I received a call from someone who said they had money and stocks in a financial account titled in the name of a revocable living trust created by the caller as part of her estate planning. The caller and her spouse were named as the trust beneficiaries. The caller expected to be sued by a bank for her default on …

Present Value Defense To Fraudulent Transfer Allegations

Jon Alper Fraudulent Transfers

A profitable business corporation faced imminent civil judgment. The principal owner of the company owned additional corporations engaged in a related business. The owner hired an attorney to represent the primary business and the related business. The owner hired the attorney to do legal work for the other, related business that were not involved in civil litigation. The owner paid …

LLC Charging Liens Applicability To Withdrawal of Capital Contributions

Jon Alper Uncategorized

LLCs are useful asset protection tools because Florida law limits a creditor’s  remedy to a charging lien on distributions to LLC members. One of my clients was relocating to Ohio and asked if he would get the same LLC asset protection after he became an Ohio resident owning a Florida LLC. I explained that the collection and asset protection laws …

Florida Court’s Garnishment of Account At Extraterritorial Bank

Jon Alper Writ Of Garnishment

Judgment debtors may want to open bank accounts at banks located exclusively outside of Florida in order to deter garnishment of their bank accounts after a judgment is entered. It is more expensive and time consuming for a creditor to transfer its Florida judgment to another state so that the foreign state’s court issue a writ of garnishment against accounts …

Fraudulent Transfer Statute Of Limitations Extended In Bankruptcy If Debtor Has IRS Debt

Jon Alper Fraudulent Transfers

A recent decision  by Bankruptcy Judge Robert A. Mark of the US Bankruptcy Court for the Southern District of Florida has created a potential nightmare and morass for those who seek to use asset protection vehicles as part of an overall estate plan or independently, and, at the same time, has created a new opportunity for creditors seeking to recover …

Business Owner’s Personal Liability For Business’s Violation of Import and Custom Rules

Jon Alper Florida Asset Protection Planning

U.S. government creditors is more difficult because there are several federal laws that provide the government stronger collection remedies or laws that make it easier for the government to hold business owners liable for debts or transgressions of their business entities. An example is a client this month who was facing personal liability for customs duties owed by his importing …

Change Financial Firms To Cure Defective Tenants by Entireties Registration

Jon Alper Fraudulent Transfers

One this week’s clients made a mistake when he opened a financial account. On the account application he checked the ownership title box labeled “jtwros” ( joint tenants with rights of survivorship) when two below there was another box labeled “tenants by the entireties”. Florida law presumes a jtwros account is a T by E account and that the property …