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By Howard Rosen

CONTEMPT OF COURT – PART 2: Self-Created Impossibility Defense

CONTEMPT OF COURT – PART 2: Self-Created Impossibility Defense

This newsletter discusses contempt of court, and a new case that reaffirms the right to establish offshore trusts without fear of incarceration.

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FRACKING: The Coming Litigation Storm…

FRACKING: The Coming Litigation Storm…

Volume XXII • Number 1 • March/April 2014 INTRODUCTION. Fracking (hydraulic fracturing) is a drilling process that was first commercially used in 1949, and one whose use has exploded in recent years. Fracking involves forcing fluid at high pressure into a geologic formation containing oil or gas. The fluid fractures the formation, allowing oil and […]

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Discussing asset protection with your clients: a guide for attorneys, CPAs, and financial planners

Discussing asset protection with your clients: a guide for attorneys, CPAs, and financial planners

According to the Wall Street Journal (July 15 – 16, 2006), asset protection planning has become “mainstream” planning.  And just as planning professionals are obligated to advise clients on estate planning and financial planning matters, many feel that the same professionals are now ethically obligated to advise clients on asset protection matters. To determine if […]

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Spousal Transfers: We Told You So

Spousal Transfers: We Told You So

We are often asked by potential clients, “Can’t I just transfer my assets to my spouse to protect them?” We have always recommended against that “strategy” for a number of reasons, not the least of which, we tell our clients: “What if she/he decides to divorce you? You could lose it all forever.” Another significant reason is that the transfer could be easily “undone” by a court if a fraudulent transfer is found to have occurred. Thus, no asset protection.

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A Review and Critique of the 2013 Ohio Legacy Trust Act

A Review and Critique of the 2013 Ohio Legacy Trust Act

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).

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Ohio Legacy Trusts: A New “Protective” Trust Law?

Ohio Legacy Trusts: A New “Protective” Trust Law?

Ohio has joined the growing list of states which have enacted asset protection trust legislation. Chapter 5816, Revised Code of Ohio, enacts the Ohio Legacy Trust Act, which, on and after March 27, 2013, permits the creation of self-settled spendthrift trusts called “Legacy Trusts”.

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