If you are concerned about asset protection and live in Florida, you are doubly fortunate. First, you have accumulated assets worthy of protection. Secondly, Florida has some of the best laws in the U.S. when it comes to protecting your assets from creditors. For example, Florida law provides unlimited homestead protection, head of household wages, retirement accounts, annuities, life insurance, disability insurance, and more.
Florida laws protect assets both in the Florida statutes and those derived from Florida’s judicial precedence. Florida actually has an entire statutory chapter, Chapter 222, that lists all the assets that are statutorily protected from creditors here in the Sunshine State. Assets are also protected in the Florida Constitution.
Even though, asset protection is legally complex and should be addressed in concert with a legal authority like Edward Reyes of The Reyes Law Firm to make sure your assets are properly protected. We can guide you on what Florida asset protection laws apply to both permanent residents and those who own property in Florida but live outside of Florida for part of the year.