Florida Asset Protection Summary 

Homestead Exemption

Like Texas and Oklahoma, Florida’s homestead exemption is unlimited as long as it is less than ½ acre within a municipality and less than 160 acres outside of any municipality.  This exemption extends to the surviving spouse and the heirs of the residence owners.  This exemption is listed in the Florida State Constitution; to view this, please click here.

Life Insurance and Annuities

Cash surrender value of life insurance policies and annuities are exempt if created to benefit someone other than the insured.  To see this statute, please click here.

Unless the policy says otherwise, the proceeds of any life insurance policy are exempt so long as the proceeds are not payable to the insured, or the insured’s estate.  To see this statute, please click here.

 

IRA

ERISA qualified plans and Roth IRAs under §408A of IRC of 1986.  For an explanation, please click here (for 408A) and here (FL statute).

Disability

Disability income benefits are exempt unless the policy was created for the benefit of the creditor.  To see this statute, please click here.

Corporate Protections

Charging Orders

A creditor is entitled to a charging order against a debtor-partner; once this charging order is secured the creditor has only the rights of an assignee of the partnership interest.  To view this section of the Florida Limited Partnership Act, please click here.

Florida’s Limited Liability Company Act discusses what happens with assignees of an interest.  So, if a charging order is granted the creditor will receive only the rights of an assignee of the interest.  To view this section, please click here.

Business Acts

1.      Florida Corporations Act

a.       To view this Act, click here.

2.      Florida Limited Liability Companies Act

a.       To view this Act, click here.

3.      Florida Revised Uniform Limited Partnership Act (2005)

a.       To view this Act, click here.

4.      Florida Revised Uniform Partnership Act

a.       To view this Act, click here.

The Asset Protection Society makes every attempt to keep the material on its web-pages up to date and accurate. Having said that, The APS does not warrant the material on this site and you should ALWAYS seek out the advice of a local advisor in your state who can give you individual advice for your particular situation and confirm the status of your state laws.