Boca Raton Estate Planning FAQs
No. Only spouses can own property as Tenants by the Entirety. Additionally, upon the death of one of the owners in each of a Tenancy by the Entirety and Tenancy with Right of Survivorship, the property passes to the remaining owner; in a Tenancy in Common, the deceased owner’s share generally passes as designated in the deed or by such tenant’s estate planning documents.
Which assets, in general, as long as they are not acquired by fraud are exempt from creditor process in Florida?
In general, there are six assets that statutorily protected which are homestead (up ½ acre in a city or municipality and 160 outside); qualified retirement plans and IRA’s, life insurance, annuities and wages (with a number of caveats). Property owned as Tenants by the Entirety is also generally exempt from creditor attachment in Florida.