Subscribe via RSS Feed Connect on LinkedIn View videos on YouTube

Articles

Married Couples Face Major Setback in Shielding Assets from Creditors

Married Couples Face Major Setback in Shielding Assets from Creditors

Juan E. Planas, a recent Florida bankruptcy case, changed the rules of the game for married individuals hoping to save their assets if one spouse declared bankruptcy. Before that case was decided, if you owned properties with your mate in what is termed “tenants by the entirety”, you could be reasonably comfortable that those properties would be safe from your spouse’s creditors if he or she ever declared bankruptcy.

Continue Reading »

Offshore Trusts Can Create Legal Obstacle Course for Claimants

Offshore Trusts Can Create Legal Obstacle Course for Claimants

Consider the thought processes of your claimant’s attorney contemplating an action to recover assets from a trust in a foreign country. He knows nothing of the country’s geography, laws, procedures, costs, or even its currency. These factors become immediate hurdles in a legal obstacle course upon which he is about to embark.

Continue Reading »

The How’s and Why’s of Offshore Trusts in Asset Protection Planning

The How’s and Why’s of Offshore Trusts in Asset Protection Planning

This article will focus on just what the title indicates: how and why offshore trusts are used in asset protection planning. The article will review certain aspects of domestic law which limit the ability of a domestic trust to provide meaningful asset protection, and will compare those laws with the laws of certain offshore jurisdictions which address the same issues in a different way, with vastly different results. In addition, the article will highlight selected trust clauses which can enhance the protection afforded by careful selection of a situs jurisdiction.

Continue Reading »

Asset Protection Planning: Physician – Don’t Heal Thyself!

Asset Protection Planning: Physician – Don’t Heal Thyself!

As busy as physicians are, some attempt to save the time it might take to seek qualified advice concerning asset protection planning, and utilize the following “do-it-yourself” “methods”.

Continue Reading »

The Uses and Abuses of Offshore Trusts

The Uses and Abuses of Offshore Trusts

Trusts have been used since the Crusades to protect assets. The trust concept and case law are deeply embedded in English common law jurisdictions. Domestic trusts — e.g., those trusts established under the laws of a U.S. jurisdiction — provide very limited (if any) asset protection for the settlor if he is also a trust beneficiary or has retained a certain level of control over the trust.

Continue Reading »

Ethical Considerations in Asset Protection Planning

Ethical Considerations in Asset Protection Planning

Much has been written lately about asset protection planning (“APP”): offshore trusts, offshore trust jurisdictions, limited partnerships, and fraudulent transfers. The purpose of this article is to discuss the ethical considerations an attorney must address when rendering services in this expanding sub-specialty.

Continue Reading »