Homestead Protection is right given under the Florida Constitution.  In Florida, there are two types of Florida homesteads.  The first and most common is the tax credit Florida Residents receive for declaring a home to be their homestead.  This is a tax credit and does not provide creditor protection.  The second type of homestead does not provide any tax credits but allows a home on 1/2 acre in the city or up to 160 acres in a rural area to be free from claims of creditors.

There has been much debate over the past few years over whether this creditor protection continued if the home was transfered into a Florida Revocable Living Trust.  The matter seems settled now, that the protection is maintained whether in the names of an individual or in a Florida Revocable Trust.

Individuals can waive their rights to this protection in limited circumstances but generally only in regards to a spouse and not a creditor.  To find out more about homestead protections in Florida CONTACT A FLORIDA HOMESTEAD PROTECTION LAWYER

To read more on Florida Homestead Rights you can find additional information on the Florida Estate Planning Lawyer's Blog