Homestead Exemptions

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On April 20, 2005, the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 was enacted into law. The stated purpose of the Act is to “improve bankruptcy law and practice by restoring personal responsibility and integrity in the bankruptcy system and ensure that the system is fair for both debtors and creditors.”

Asset Protection Update: Report on Federal & Florida Developments

Volume X, Number 2 - October / November 2001 © Donlevy-Rosen & Rosen, P.A. INTRODUCTION.  This issue was scheduled to discuss certain qualified retirement plan protection techniques. Instead, we want to alert you to interesting recent developments. FEDERAL UPDATE. The new bankruptcy law, which, prior to September 11, was certain to have been enacted, is now [...]

Married Couples Face Major Setback in Shielding Assets from Creditors

Juan E. Planas, a recent Florida bankruptcy case, changed the rules of the game for married individuals hoping to save their assets if one spouse declared bankruptcy. Before that case was decided, if you owned properties with your mate in what is termed “tenants by the entirety”, you could be reasonably comfortable that those properties would be safe from your spouse’s creditors if he or she ever declared bankruptcy.