The Orlando bankruptcy court is preparing to adopt a rule providing for mandatory mediation between homeowners and their mortgage companies to facilitate mortgage modification.
Read this article:
Orlando Bankruptcy Court May Empower Chapter 13 Debtors To Force Mediation With Their Mortgage Lenders: This Rule Could Avoid Many Foreclosures And…
The state of Massachusetts is serious about collecting corporate income taxes.
Effective asset protection planning requires anticipation of what creditors’ attorneys may and will do to collect their judgments.
The Orlando Sentinel ran a front page article in this Sunday’s paper about short sales and foreclosures.
Often, a high-risk professional will title all assets in the name of their non-professional spouse as an asset protection plan. The professional thinks they are a lawsuit target, but in the event they are sued, they could tell their adversary that they “have nothing in my name.” It’s a simple plan, but it sometimes backfires
Florida debtors who are head of household can exempt from creditor garnishment unlimited earnings. Questions frequently arise concerning what types of compensation are included in the statute’s definition of “earnings.” For example, commissions earned by an independent contractor are not exempt under the Florida statute. Florida courts have held that wage garnishment protection applies to regular compensation dictated by the terms of an arms’s length employment agreement to perform services that are in the nature of a job
I just returned from a conference in San Antonio sponsored by the American Bar Association’s Section on Taxation. I attended this conference to learn more about plans the Department of Justice (DOJ) and the IRS have going forward in their anti-offshore vendetta, and how the financial institutions and nations affected by it are likely to react.
Husband and wife open a joint bank account at a Florida bank, and on the signature card, they pencil in the words “tenants by entireties” to express their intent that the account be an exempt entireties account. Subsequently, the deposit in the account money from another joint bank account and a joint income tax refund. These facts support clearly the conclusion that all money in the account is owned tenants by entireties, and assuming no fraudulent transfers, the money is protected from the individual creditors of either spouse
Questions from other attorneys are usually the most interesting; here’s an example. A Florida attorney called me about one of his clients who was concerned about a bank garnishment. The client and his wife had a permanent residence in Florida.
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