Q: Is my annuity I received as a Florida resident still protected from BK, now that I’m a MT resident but having to use FL.
I was a Resident of Florida when I received a annuity 10 years ago. I now moved to Montana and am a Montana resident but have not been here two years. I am filing bankruptcy and have to use for the Florida laws. I knew my annuity was protected in Florida when I was there but is it still protected now that I’m A Montana resident but still having to file under Florida law as I have not been here two years, or can the trustee take it now.
A: It should still be protected by the exemptions, but you need to consult a bankruptcy lawyer to examine all the angles.
A: Exemptions after moving can be tricky. For instance, if Florida's exemptions only apply to "residents" then you cannot use them in Montana, and you can't use Montana's either, unless you wait another few months. You could be having to use the federal exemptions. This could be a very important question to answer correctly, and you need to hire a competent bankruptcy attorney.
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