Under the Uniform Fraudulent Transfers Act (UFTA) whether a transfer is considered fraudulent boils down to two basic issues.
1) Actual Intent 2) Insolvency and Transfer for less than full value
The intent of the transfer is whether it was done to avoid payment or reach of a potential creditor that existed at the time the transfer took place. It is possible to have an intent other than to avoid the creditor’s reach that is not fraudulent. Often people want to transfer assets to others for little or not value, this is a problem because of the second issue.
Generally there is a 4 year look back on transfers under the UFTA. A well prepared Florida Estate Planning can deal with many of the issues involved with Florida Asset Protection to help protect you and your families future.