Your home is your castle, right? And Florida estate lawyers know that homestead
is a serious probate issue. Or, better put, Florida homestead is a valuable property with valuable inheritance rights which go “outside” of Florida probate.
But a recent Florida homestead case also shows that there is creditor protection for home owners in Florida. Florida homestead is one of those very valuable property rights which you get just for being a Florida domicile or permanent resident.
New Florida Homestead Case
- Often, there are Palm Beach probate proceedings to determine whether a piece of real estate, like a home, is or is not Florida homestead
- Why?
- Well, there are Florida probate rules for descent and distribution of property if it’s homestead.
- Question: Who inherits homestead?
- There are special rules if you have a spouse or minor children.
- Many times, Palm Beach estate law firms will file a “Petition to Determine Homestead” and have a full blow trial on whether a house is homestead or not.
- Why?
- Well, in addition to determining who inherits the Palm Beach homestead, a Palm Beach probate may tell you if the homestead is protected from your creditors
- Question: what if you sell the homestead?
- Well, the sale proceeds $$ may be protected.
- You may want to read more in the July 9, 2014 homestead opinion of Florida’s 3rd District Court of Appeal. This is not a probate lawsuit but it is a Homestead Lawsuit. The name of the case is Sepulveda v. Westport Recovery Corp. You can access a free online copy of the homestead decision by going to the appellate court’s website. Or… 39 Fla. L. Weekly D 1433.