Patricia Donlevy-Rosen & Howard Rosen will be among the presenters at the the BFI Inner Circle Forum 2019 to be held at the Green Valley Ranch Resort in Henderson, Nevada, September 26 – 28, 2019. Patricia will discuss the special strategies required to implement asset protection for real estate and Howard will discuss offshore wealth protection trust strategies.
Effective March 27, 2013, Ohio joined the growing list of states that have enacted asset protection trust legislation. This article provides a review and critique of the asset protection aspects of the Ohio Legacy Trust Act (Act).
Years ago asset protection planning was an infrequently discussed topic between CPAs and their clients. Today, however, the topic often arises. Therefore, CPAs must have a basic knowledge of the strategies and techniques available to their clients to be able to intelligently respond to client inquiries.
Amendment 8 prohibits a physician who has been “found to have committed three or more incidents of medical malpractice from being licensed to practice medicine in Florida” (emphasis supplied). How do you protect yourself from that Draconian rule? You implement a comprehensive asset protection strategy.
On July 10, 2003, Alaska amended its 1997 Alaska Trust Act (the “2003 Bill”) in an effort to stay in the forefront of the growing list of states seeking to generate trust business by providing settlors with creditor protection and estate freeze legislation. This type of legislation attempts to rival that offered by certain offshore jurisdictions. The 2003 Bill makes Alaska more attractive as an domestic asset protection situs. As a state in the United States, however, Alaska falls short of providing the ultimate protection offered by certain offshore jurisdictions – lack of U.S. court power to upset asset protection planning.
On March 22, 2003, Utah joined the growing list of states which have enacted asset protection trust legislation. This article provides a review and critique of those provisions of the Utah legislation which pertain to asset protection. Trusts which are subject to the new legislation will be referred to herein as “Utah trusts”.