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Tag: Domestic Planning

Domestic Asset Protection Trusts: Do They Work?

Domestic Asset Protection Trusts: Do They Work?

Many seminars and articles of late have introduced and discussed the concept of domestic asset protection trusts. This is primarily a result of “protective” trust legislation enacted in 1997 by Alaska and Delaware (Missouri has also enacted such legislation, but has not promoted it as have Alaska and Delaware). But is this domestic planning effective?

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Domestic Asset Protection Trusts: How Do They Compare With Offshore?

Domestic Asset Protection Trusts: How Do They Compare With Offshore?

In this issue we will examine the importance of proper design of the asset protection trust, and, integrally related to proper trust design, the importance of competent, experienced counsel. We’re sure you have all heard the expression, “bad facts make bad law”. That is the unfortunate circumstance of Mr. and Mrs. Anderson. Adding insult to injury, incompetent or inexperienced counsel can make matters even worse.

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Limited Liability Companies: Ready for Prime Time?

Limited Liability Companies: Ready for Prime Time?

Limited liability companies are being utilized more and more as one state after another adopts a version of a limited liability company statute. A Uniform Limited Liability Company Act was proposed in August, 1994, but as of this writing, no state has adopted it.

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Limited Partnerships: A Closer Look

Limited Partnerships: A Closer Look

The use of limited partnerships in asset protection planning was generally discussed in Volume I, Numbers 3 & 4. In this issue we will take a more detailed look at how and why limited partnerships are used in asset protection planning, and the limitations of the limited partnership technique.

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Traps and Pitfalls of Do-It-Yourself Asset Protection

Traps and Pitfalls of Do-It-Yourself Asset Protection

A client recently said, “My property is protected; my wife and I own everything as joint tenants with right of survivorship”. WRONG!

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