That judgement was many years ago
and they never collected anything from the guy. First of all they guy would have to have that amount of assets, the EIPC lawyer or investigator would have to locate the assets and the assets themselves would have to be able to be seized. Below are all the protected items in Florida. Also non-exempt assets could easily have been transferred to his wife, who in FL is NOT liable for her husband's debts, or simply hidden. It's pretty easy to avoid payment, there's even people who specialize in advising people how to do it.
The key assets that are protected from creditors in Florida include:
Homestead, with some acreage limitations.
The wages of someone who qualifies as head of household.
Annuities.
Life Insurance.
Retirement Accounts. For example: an IRA or 401k.
Tenants by entireties property when the judgment is separate.
Interest in a multi-member LLC with a properly written LLC operating agreement (but still subject to a charging lien).
Disability income.
$1,000 of value in a vehicle.
$1,000 of personal property (or $4,000 if you do not own a home).
Prepaid collect plans.
Various generic exemptions, such as health aids, medical savings accounts, and unemployment benefits.
Social security.
Some properly-drafted estate planning trusts protect the beneficiaries’ interest and inheritance from their creditors
AI
