Florida Exemptions and Federal Civil Restitution Judgments

Jon Alper Florida Exemptions

One of my new clients had been sued by the Federal Trade Commission for a violation of their statutes pertaining to telephone sales including alleged common law fraud against the victims. A federal court entered a judgment against my client for several millions of dollars damages including an award of over $1 million dollars of “restitution.”The client wanted to know …

Creditor May Enforce Debtor’s Written Waiver Of Exemptions

Jon Alper Florida Exemptions

An attorney called me for help collecting several judgments against the same individual debtor. The debtor’s principal asset was his retirement account. Retirement accounts are exempt in Florida pursuant to Florida statutes. The attorney wanted to know if a the debtor’s signature to loan documents which included a general waiver of exemptions from judgment execution was enforceable to the extent …

Employee Stock Purchase Plans Are Not Exempt Assets

Jon Alper Audio, Florida Exemptions, Gallery, Image, Link, Quote, Standard

A client asked me during a consultation whether his employee stock purchase plan was an exempt (“ESSP”)  asset.  The client’s ESSP was provided by his employer. The employer is a publically traded company. The ESSP plans provides employees the opportunity to purchase employer stock at a ten percent discount to current market value.  The employee pays tax on the benefit …

United States May Garnish Wages of Head of Household To Collect Criminal Restitution

Jon Alper Florida Exemptions

A client entered into a criminal plea agreement three years ago stemming from his violation of federal securities laws. The plea agreement included restitution to the victims of his wrongdoing. There is a money judgment against the client for restitution. The client wants to know if the restitution judgment may be enforced against exempt assets, specifically, his wages as head …

Bankruptcy Exemption Of State Crime Victim Compensation

Jon Alper Florida Exemptions

One of my clients disclosed that he was expecting to receive state money to compensate him for his injuries sustained as a result of a criminal attack in his home by an intruder. He had many debts, some of which were related to the crime including medical bills. He is interested in discharging all his debts with a Chapter 7 …

Exemption of ESOP Plan Benefits in Florida

Jon Alper Florida Exemptions

Exemption of a debtor’s interest in ESOP plans depends upon statutory provisions and the terms of the company’s written plan documents. One of my clients asked me to evaluate his interest in an ESOP containing stock from Publix. He had accumulated Publix stock in an ESOP through his employment with Publix. The issue of ESOP exemptions has come up infrequently …

Purchase of Annuities Before Becoming Florida Residents

Jon Alper Florida Exemptions

Two clients had the same question last week about purchasing annuities. Both client were planning to move to Florida from another state where judgments were about to be entered against them. They are interested in buying annuities which are exempt under Florida law. They want to know if their annuities would be exempt in Florida if they are purchased while …

Can IRA Be Sued For As A Recipient of a Fraudulent Transfer?

Jon Alper Florida Exemptions

A new client invested in a ponzi scheme. He withdrew his investment, including a “profit” just before the ponzi scheme collapsed. The SEC appointed a receiver to go after investors who received profits as fraudulent transfers. Many courts have held that ponzi profits are fraudulent transfers that may be recovered to repay other investors. This client wanted to know if …