Are Improper Medicaid Transfers A Form of Fraudulent Transfer?

Jon Alper Medicaid

Many  people who realize that their parents  may  need of long term nursing home care will consider whether their parents will qualify for Medicaid assistance. Medicaid benefits are available for people with minimal assets: only applicants with less than approximately $2,000 total assets qualify for Medicaid nursing home assistance. Clients frequently ask me if their parents can transfer their assets …

Medicaid and the Florida Homestead Exemption

Jon Alper Uncategorized

The Florida homestead exemption is Florida’s best known asset protection law. The exemption becomes more complicated, and more limiting, when it interacts with certain provisions of federal law. One example is federal tax law pursuant to which the IRS may place a lien on a taxpayer’s homestead to collect taxes. Another lesser-known change to Florida homestead is the provisions of …

Can Creditor Take My Furniture and Clothing?

Jon Alper Uncategorized

Some debtors are surprised when I tell them that the household furnishings and clothing they used on a daily basis are not exempt from their judgment creditors. Some people think that Florida law permits them to own their basic tools of living such as the clothes they wear, their children’s toys, the beds they and their family sleep in. Some …

Response to Writ of Garnishment

Gideon Alper Creditor Rights

I had a client last week ask about the best responses to a writ of garnishment in Florida against a bank account. I explained that the first step is first to see whether or not the client had any statutory exemptions. We looked at the source of his bank account funds and made a conclusion as to whether or not …

Revocable vs. Irrevocable Trusts in Florida

Gideon Alper Estate Planning

Estate planning clients begin their planning process with the expectation that they will be creating some type of trust for their heirs. Often, clients anticipate conveying their assets in to some form of trust, but they typically do not understand how different types of trust fit in to the estate planning process. Trusts are initially distinguished by whether they are …

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 …

Colorado Supreme Court Decision Supports Forming LLCs Outside Florida

Jon Alper Uncategorized

A limited liability company provides asset protection because a creditor’s remedy is limited to a charging lien against the debtors share of profit distributions from the LLC. An interesting issue arises when the debtor owns a membership interest in an LLC that was organized in a state that is different from the debtor’s residence. Does the creditor have to domesticate …

Income Tax Liability In Bankruptcy For Appreciated Property

Jon Alper Bankruptcy

People avoid filing Chapter 7 bankruptcy if they have non-exempt property with significant equity. Yet, consider a debtor who owns real estate that has appreciated and therefore has a built in liability for capital gain. If that debtor files bankruptcy could the IRS hold him personal liable after bankruptcy for the income tax liability associated with the gain in the …

Non-Consumer Related Civil Judgments Will Not Affect Credit Rating

Jon Alper Creditor Rights

Client frequently are concerned about the effect on their credit rating of a civil judgment for damages when the judgment comes from a business dispute or a business debt. . Civil judgments appear on credit reports. Clients have asked what effect the judgment will have on their credit worthiness. I have always explained the clients that credit scoring is not …

Federal Government Garnishment and Debt Collection

Jon Alper Creditor Rights

One of my clients was sued by the Federal Trade Commission for a violation of their rules. The FTC obtained a large monetary judgment.  There is a federal statute permitting the U.S. government to garnish wages and bank accounts. The federal garnishment statute provides less debtor protections than Florida’s garnishment laws.  For instance, the government may garnish 15% of wages …