Discovery of Personal Financial Information During Lawsuit

Jon Alper Creditor Rights

Parties involved in litigation some times request financial information about the opposing parties. The requests may be expressed broadly to include proprietary or personal financials. My clients have often asked whether they can be compelled to reveal financial information to opposing parties. The answer depends upon the nature of litigation. Prior to judgment, the scope of financial discovery is limited. …

Can Foreigner File Bankruptcy in Florida?

Jon Alper Bankruptcy

Florida residency is significant if bankruptcy is more than one way. A person may not claim Florida bankruptcy exemptions unless he has resided in Florida for two years. Prior to two year residency, the debtor is eligible for exemptions in the state where he most recently lived for two years. If he did not qualify for his prior state’s exemptions …

Homestead Protection From Alimony and Support Judgment

Jon Alper Homestead Exemption

A Florida  judgment was entered against a client for alimony and support in October 2017. The client had purchased a Florida home in 2013, but he was not a legal U.S. resident at the time having moved from Canada. He got a green card in August, 2017. He resided in the Florida home since its purchase in 2013. The client …

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 …

Transfer Of Zero Value Stock Cannot Be Challenged As Fraudulent

Jon Alper Fraudulent Transfers

Often, a debtor will own an interest in real estate or business corporation/LLC that has no present value, but which the debtor anticipates will some day be worth significant money. Examples are upside down real estate or a start up business. These assets may be transferred to protect the anticipated future value from creditors even if there is presently a …

When Your Bank Does Not Offer Tenants By Entireties Accounts

Jon Alper Tenants By Entireties

Florida law protecting tenants by entireties bank accounts from garnishment against one spouse is based mostly on the Florida Supreme Court decision in the Beal Bank case. Most attorneys, on the debtor and creditor sides, believe that case established the rule that marital joint accounts with rights of survivorship are presumed to be owned as tenants by entireties, and that …

Enforcing a Florida Judgment in Canada

Jon Alper Creditor Rights

One of my clients had a judgment entered against him from a business transaction in Florida during a time when he was living in Florida. After the business relationship ended, and after the lawsuit and judgment, my client moved to Canada where he established a new residence. He asked whether the Florida judgment could be enforced in Canada and whether …

SEC Disgorgement Order Enforceable Against Exempt Assets

Jon Alper Creditor Rights, Florida Exemptions

The U.S. Securities and Exchange Commission may impose equitable remedies to recover money earned through illegal insider trading and other violations of federal seccurities laws. The SEC’s equitable remedies include “disgorgement” of all money obtained illegally. A federal court may order the defendant to pay back illegally obtained funds or to post a bond secured by the defendant’s assets. Florida’s …

What Happens To IRS Lien on Entireties Asset After Death?

Jon Alper Tenants By Entireties

Tenants by entireties assets are not protected from either spouse’s IRS debts. If the IRS acquires an income tax lien on one spouse who had filed separately the IRS lien attaches to the delinquent spouse’s interest in tenants by entireties property. The U.S. Supreme Court held that tenants by entireties property may not be immune from IRS liens regardless of …

Garnishment of Life Insurance Death Benefit Payable to Debtor

Jon Alper Writ Of Garnishment

Our client is the beneficiary of a life insurance policy on her husband’s life. The husband owns the policy. The client has a large civil judgment. The husband died, and the wife filed a claim with the life insurance company. The insurance company delivered a check for the insurance proceeds to our client, and the client deposited the proceeds in …