Wages, earnings or compensation of the head of household which are due for personal labor or services, including wages deposited into a bank account (provided they are traceable and identified as such) are exempt from garnishment or attachment under Florida Statute Section 222.11. A debtor is head of household if he financially supports someone for whom he has a legal or moral support obligation, such as a spouse, child, or parent. The dependent does not have to reside in the debtor’s primary residence. Exempt means that such wages cannot be reached by a creditor, except for alimony and child support payments, or except when the right to garnish wages is given to a creditor (such as in loan documents, in connection with a bank loan).
In Florida, the law provides for the protection of 100% of the head of household’s wages from garnishment even if the wages are commingled with other funds, as long as you can clearly trace and identify the wages deposited into the account. Advantages: The Asset Protection advantage is obvious in this instance, creditors cannot reach your wages for a certain period of time – at which you can construct and finalize your Asset Protection strategy, which may include these wages.
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