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Married Couples Face Major Setback in Shielding Assets from Creditors

Married Couples Face Major Setback in Shielding Assets from Creditors

Juan E. Planas, a recent Florida bankruptcy case, changed the rules of the game for married individuals hoping to save their assets if one spouse declared bankruptcy. Before that case was decided, if you owned properties with your mate in what is termed “tenants by the entirety”, you could be reasonably comfortable that those properties would be safe from your spouse’s creditors if he or she ever declared bankruptcy.

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