Page 15 - Stuart Exposure - January '20

Stuart Exposure, Page 15

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Asset Protection In Florida – assets as a “tenancy by the entireties ownership.” controlling all assets that pass to them upon the other
One of the most powerful of these is ownership of
spouse’s death or to alter the eventual disposition of assets
For ‘Free’ This states that so long as assets of a Florida resident upon the surviving spouse’s subsequent death.
are jointly owned by spouses, a judgment creditor of one If both spouses intend for all jointly owned assets to
By Ryan Abernathy spouse can’t attach or otherwise gain ownership assets pass to the surviving spouse under the surviving spouse’s
We’re frequently asked owned by the married couple as tenants by the entireties, full control, joint “TBE” ownership of assets provides a
how to best protect assets so long as the assets remain in that form of ownership. simple way to establish basic asset protection.
from future judgments. The This form of protection isn’t perfect. For example, it Generally, Florida fully exempts one’s homestead
best way is to terminate all wouldn’t protect against a judgment entered against both property from a creditor’s reach, protecting 100 percent
contact with potential creditors spouses. of the homesteaded property’s value up to one-half acre
– no business dealings, Additionally, it is only available while assets remain located within a municipality and up to 160 contiguous
no borrowing or credit in this form of ownership. In Florida, a judgment can acres outside of a municipality.
transactions, and no driving remain valid for years. If, during that period, tenancy by Florida law also provides protection to assets held
or ownership of any vehicle. entireties assets were no longer jointly owned – due to in qualified retirement plan accounts (such as IRA and
Obviously, something death of a spouse or divorce – the outstanding judgment 401(k) accounts) and to annuity contracts.
that extreme is impossible. would then instantly attach to the unprotected asset. These opportunities can provide important asset
There are advanced “wealth preservation” strategies that can Additionally, joint ownership is not always appropriate. protection when used appropriately. It is crucial to meet
be designed and implemented to increase protection from In second marriages or “blended families” where each with a qualified attorney or financial advisor to ensure that
“litigation risk” (our office frequently develops such protection spouse has children from prior relationships, their your assets are “owned” or “invested” to take appropriate
plans for clients); however, Florida law provides several “free” planning goal may include “control” provisions in their advantage of the protections offered by the State of
asset protection opportunities. estate planning to prevent a surviving spouse from fully Florida.

ClevelAnd ClInIC mArTIn HeAlTH news

Knowing What You’re Up of classes for newly-diagnosed patients. Certified diabetes reports that 55 participants living with Type 2 diabetes, who
Carolynn Strom, diabetes education program coordinator
educators cover a wide range of topics, including:
Against • Diabetes and its complications attended the education classes, significantly improved control
• Effectively monitoring glucose of their blood glucose. She says they experienced on average,
Ann Bartholomew says she became angry when she was • Diabetes and heart disease a 1.8 point drop in HbA1C over the last year. The blood’s
diagnosed with Type 2 diabetes in 2019. She credits her • Exercise and medications HbA1C level is reflective of how well diabetes is controlled.
primary care physician, Lindsey Patterson, M.D., with helping At age 66, Bartholomew found guidance on nutrition Strom encourages patients to educate themselves. “These
her to channel those emotions toward improving her health. particularly helpful. She now eats smaller portions and classes are important because they help individuals prevent
Nine months after being diagnosed, Bartholomew is embraces well balanced meals. She has also learned to set acute and chronic complications from diabetes.”
21 pounds lighter and living a healthier life style. She says realistic goals for herself, “I’m not so hard on myself anymore Diabetic cooking classes are also offered at a reduced cost
understanding the disease made all the difference. She gained and know it is okay to slip up, if my blood count primarily for newly diagnosed patients and Strom says it’s an enjoyable
insight by attending a diabetes self-management program stays in range.” way to get healthy cooking tips and understand the nutritional
offered by the Center for Diabetes and Nutrition at Cleveland Her efforts have paid off. Bartholomew has transitioned value of meals.
Clinic Martin Health. “It gives you a clearer understanding of from Type 2 diabetes to being pre-diabetic. “The classes To sign up for a cooking class or the diabetic self-
what you’re dealing with and how to deal with it,” she says. definitely helped. I would not have known what to do. You management program at the Center for Diabetes and
Most insurance companies and Medicare cover the cost hear people have diabetes, but you don’t know why.” Nutrition, visit martinhealth.org/diabetes-education.
Pet Matters

by Pat Deshong, President of Furry Friends
Adoption, Clinic & Ranch

"For the Love of Animals" features real stories happening at
Furry Friends in Jupiter. We are The Humane Society of Greater
Jupiter/Tequesta and the only no-kill shelter open to the public in
northern Palm Beach County. We’ve been rescuing, rehabilitating,
and re-homing the homeless animals in our community for more
than 30 years. Our not for profit 501c3 organization consists of
our Jupiter based Adoption Center, Veterinary Clinic (open to the
public), Thrift Boutique, and Palm City Ranch.

When considering adding a furry family member to your family,
please visit our Palm City Ranch at 4841 S.W. Zarrella Street.
All of our adoptable dogs and cats are now at our ranch but by
the time you are reading this article, we may very well have furry
residents in our new Jupiter home at 100 Capital Street in the Jupiter
Commerce Park! Call us at 561-747-5311 ext. 2 for information!
Blessings to you for your support and faith in us… all for the
LOVE of animals!

Patricia Deshong, President

Progress with
our new building.
Please help us
get to the finish
line by donating This is what Furry Friends is all about…rescuing, rehabilitating,
today! Our clinic and giving homeless companion animals their best future… no
is now open at 100 matter how long it takes to find it. We invite you to come visit us!
Capital Street. Our website is www.furryfriendsadoption.org.
Our Adoption Furry Friends depends on the generous support from donors
Center will be like you. Without Furry Friends, the future of the many animals
finished soon!! we save would be uncertain. Thank you for donating and helping
us continue our animal saving mission.
If you would like to be a part of our new beginning, please Ways to donate (tax ID #59-2111273):
contact us. Like each nail, block, & tile, every donation, no matter 1. Mail a check made payable to Furry Friends to 100 Capital
how small, will help make our dream come true… All for the Love Street, Jupiter, FL 33458.
of Animals. 2. Visit www.furryfriendsadoption.org
Please visit www.furryfriendsadoption.org or call 3. Call us with your credit card information at 561.747.5311 ext. 3
561.747.5311 ext. 1 for more information. Ask for Pat Deshong, “Your donation creates the possibilities to make miracles
President, or Curry Krasulak, Director of Development. happen for our Furry Friends”
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