Legal Question in Wills and Trusts in Florida

Protecting a parent's asset

I just took a call from my father. He's concerned that he's going to get sued by his ex-girlfriend after a rather hostile split. They lived in separate homes and have been dating less than two years. He resides in the state of Florida. He wants to know the best way to protect his assets and if he can put his assets in his children's names to shield them from being lost to his ex-girlfriend or anyone else.


Asked on 3/31/08, 6:29 pm

1 Answer from Attorneys
Alan Wagner Wagner, McLaughlin & Whittemore P.A.

Re: Protecting a parent's asset

This is difficult to answer and your dad shoud probably see a lawyer. There are significant risks to transferring assets to thers and it might trigger a gift tax. It is not unheard of for family members -- regardless of how good things look -- to run off with others' assets. Your e-mail does not indicate what he thinks he will be sued for and that would be a necessary piece of information to know before any meaningful advice can be offerred.

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Answered on 3/31/08, 8:08 pm


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