Ruth Madoff Hangs On To Palm Beach Estate

By
Photo: Getty Images

Ruth Madoff has declared her $9.4 million Palm Beach estate her primary residence, not because she plans on heading south for a little R&R in the wake of her husband finally going to jail, but because the Florida constitution protects people who, like Ruth, apply for and receive "homestead exemptions" to prevent their property from being seized by mean creditors. “The two big drawing cards to Florida were sunshine and affordability,” a local lawyer told Bloomberg. “Now it’s for sunshine and the protection of your primary mansion.” [Bloomberg]