In order to fully answer this question, more facts are necessary.

  • Did you receive a cash inheritance and pay off the mortgage on your home?
  • Do you currently have creditors or are there any in the foreseeable future (i.e., possible lawsuits that you know may be filed against you)?

That being said, a Florida homestead, by virtue of the fact that it is your homestead, is exempt from creditors (other than the mortgage company, those who have done repairs to your home, and liens by an HOA for failure to pay dues/assessments). The Florida constitution protects the homesteads of Florida residents. That exemption goes to your heirs at your death (spouse, children, bloodline).