Posted by Earl on January 20, 2004 at 20:36:42:
I have a question on state Homestead Exemption laws. I live in Florida, which has a liberal Homestead Exemption. Last year my wife and I had title of our residence placed into our living trust. I recently had a financial advisor say that was a bad idea and we shouldn't have done that. He claimed putting title of a residence into your living trust could invalidate your homestead exemption. My wife and I are the sole members of our living trust.
I've never heard of that before. Is that true? If by chance it is true, what is the rationale for that?
I'm a frequent poster on this board and as always your advice is sincerely appreciated! Thanks!Earl
- As always, thanks! Great help! - nt Earl 07:50:31 01/29/04 (0)
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