Tiger Woods Irrevocable Trust #estateplanning #assetprotectionplanning #irrevocabletrust #trusts

13 Mar 2023 · 1 min

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In this video, the speaker explains that Tiger Woods placed his approximately $100 million Jupiter Island residence into a Florida homestead irrevocable trust. The trust allows the property to pass to heirs outside probate while preserving the Florida homestead exemption, which shields the home’s full value from creditors and lawsuits. The speaker notes that Florida residents commonly use such trusts for asset protection. The narrative shifts to a legal dispute: Woods’ former girlfriend has filed a $30 million lawsuit claiming that an oral agreement allowing her to occupy the home rent‑free was breached when she was locked out. The speaker promises to provide further updates after speaking with Woods.

Chapters

Tiger Woods has an irrevocable trust that is being sued by his ex-girlfriend. The Jupiter Island irrevocable trust is a trust in which Tiger put his home. I've read that the home is valued around $100 million. If you've ever been to Jupiter Island, this is a place where corporate titans owned homes in the early 1900s. Many of the lots, one side is the Atlantic Ocean and the other is the bay. Tiger put his home there in a Florida homestead irrevocable trust. There are many reasons why Florida residents do this, some of which are that as with any other trust, you can pass the assets in that trust onto your heirs after death outside of probate. And in Florida, even though you put your home in this type of trust, you can maintain your homestead exemption. Florida homestead exemption is a huge issue. It provides the total value of your residence with protection from lawsuits and creditors, which for someone like Tiger Woods is a big deal, especially in light of the fact that now his ex-girlfriend is suing him for $30 million. She says an oral agreement with her to live rent-free in the home was breached when she was recently locked out of the house. I'll let you know more after I talk to Tiger