While seemingly simple, homestead can be a complex issue, particularly in probate and real estate transactions. Florida law allows your primary residence to be exempt from creditors. Florida law also provides for tax exemptions on homestead property. There are, however, exceptions and caveats. You cannot claim homestead in Florida and in another state at the same time. Your spouse and minor children have rights to your homestead property if you die. Incorrectly conveying homestead property can be costly and time consuming. Speak with your attorney if you have questions regarding homestead property.
-Emily A. Helmick, Esq.