State Where Collection Takes Place Governs Collection Law and Procedure

Jon Alper Uncategorized

A civil judgment rendered in one state is enforceable in any other state under the concept of “full faith and credit.” The U.S. Constitution provides that each state must give full faith and credit to a civil order issued in another state’s court. For example, a money judgment issued in a Georgia court can be domesticated in Florida and collected …

Fraudulent Transfers Remedy Under Proceedings Supplementary

Jon Alper Fraudulent Transfers, Uncategorized

Collection of money judgments is conducted through proceedings supplementary under Florida Statute 56.29. The proceedings supplementary statutes include procedures to remedy the debtor’s fraudulent transfers of personal property.  (56.29 (3). Fraudulent transfers are also addressed under a separate statute, Section 726.105. Section 726.110 imposes a four year statute of limitations on fraudulent transfer actions brought under Section 726.105 . I’ve …

Moving To Florida With Community Property

Jon Alper Uncategorized

I’ve seen recently several clients who are interested in moving to Florida from community property states including California and Arizona. I recently published a post about the status of a non-debtor spouse’s LLC interest that the couple acquired in Texas before moving to Florida. Other clients have asked about other types of community property assets such as joint marital bank …

Bankruptcy Debtor Denied Exemption For Self-Directed IRA

Jon Alper Uncategorized

A self-directed IRA is a personal IRA plan where the owner can invest IRA funds in assets other than marketable securities, such as real estate. There are companies that provide qualifying IRA plan documentation and who hold title to your customized IRA assets. The self-directed plan provisions require that the owner not use IRA money in a manner contrary to …

Using a Foreign State’s Domestic Asset Protection Trust Law in Florida

Jon Alper Uncategorized

Some states, not Florida, have statutes that encourage asset protection trusts. These states’ statutes provide that if a debtor establishes an irrevocable trusts for their own benefit the assets that the debtor conveys to his trust are protected from his creditors. The trustmaker must reside or have significant assets in the state where the trust is settled. I consulted with …

Is a Green Card Required For Florida Domicile and Exemptions?

Jon Alper Uncategorized

Debtors can claim Florida’s asset exemptions only if they are domiciled in Florida. People sometimes confuse the term “domicile” with the term “residence.” A person is a resident of any place where he resides and keeps property. A person may be a resident of more than one state; some people have second and third homes in several states. A person …

Money Damages Against Recipient of Fraudulent Transfer

Jon Alper Uncategorized

Florida law limits creditor remedies for fraudulent transfers. A court may reverse a transfer but it may not impose additional damages against a debtor simply because the debtor transferred property to avoid the judgment. The law does not prohibit damages against a transferee who is not the debtor. The recipient of a fraudulent conveyance is exposed to damages. In a …

Judgment Against Intermediary of Fraudulent Transfer

Jon Alper Uncategorized

Florida law limits creditor remedies for fraudulent transfers. A court may reverse a transfer but it may not impose additional damages against a debtor simply because the debtor transferred property to avoid the judgment. The law does not prohibit damages against a transferee who is not the debtor. The recipient of a fraudulent conveyance is exposed to damages. In a …

Operating Agreement Can Avoid Probate of Florida LLC Membership Interests.

Jon Alper Uncategorized

From time to time we receive inquiries about using limit liability companies to avoid probate of business interests and real estate. Some people believe that they can write terms and conditions in an LLC operating agreement that control the transfer of a member’s LLC interest after the member’s death. They believe that the deceased member’s interest would immediately transfer to …

Should You Fill Out a Financial Affidavit After a Car Accident?

Gideon Alper Uncategorized

Sometimes clients ask me whether they should fill out a financial affidavit after the injured person in a car accident requests the affidavit from the insurance company. This situation typically comes up when the client’s insurance company makes a settlement offer to the injured person, but the injured person (and their attorney) wants the financial affidavit completed before they decide …