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.
Individuals should proceed with caution and utilize experienced counsel when titling new assets or transferring title to existing assets. This issue of the APN is the first of two parts addressing the most frequent failings of individuals attempting to implement do-it-yourself asset protection by titling/retitling assets.
All states provide some degree of “asset protection” through their state exemption laws. Such laws shield certain types of assets, such as homestead, wages, annuities, life insurance and retirement funds from creditor claims. This issue of the APN is the second of two parts addressing the most frequent errors people make in attempting to implement asset protection on their own by using (or failing to use) state exemption laws.
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”.
This issue was scheduled to be a review of Barbados. However, a decision in a recent case which may put at risk certain “do-it-yourself” protection techniques was handed down, and is discussed in this issue.
For years now we have stressed the importance of implementing asset protection strategies before any type of claim or threat of litigation arises. Why is advance planning continuously emphasized?
The use of offshore trusts in asset protection planning was briefly discussed in Volume I, Number 4. In this issue we will take a more detailed look at how and why offshore trusts are used in asset protection planning, the tax consequences of utilizing an offshore trust in your planning, and the circumstances under which the technique may not be used.