Tag Archives: asset protection news

SELLING YOUR BUSINESS? Beware the “Post Sale Price Reduction” – Protect Those Sale Proceeds!

business for sale

This newsletter discusses litigation risks associated with the sale of a business and what a smart seller should do to protect the sale proceeds.

SO YOU THINK YOUR HOMESTEAD IS PROTECTED? Think Again!

protect home

This newsletter discusses some loopholes to the protection of your homestead, and what you can do to close those loopholes and ensure that protection.

ENHANCING CREDITOR PROTECTION OF IRA FUNDS: Inherited and Otherwise

This newsletter discusses protecting an inherited IRA and your own IRA from creditors, particularly in view of the 2014 Supreme Court case of Clark v. Rameker.

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.

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”.

Tenancy by the Entireties Protection Weakened: The Craft Case + Cook Islands / Nevis Update

Tenancy by the entireties (“TBE”) is a form of joint ownership which is created during marriage and which can only exist between spouses. Among the traditional legal characteristics of TBE is that one spouse cannot mortgage, sell or otherwise dispose of any portion of the property without the joinder of the other spouse, as the property is deemed to be owned by the marital unit and not by either spouse individually.

Merrill Scott and the Anderson Case: There’s Good News and More Good News

The APN has repeatedly warned our readers against so called “too good to be true” income tax reduction schemes involving offshore entities. In this issue we’ll see what recently happened in one such case.

Asset Protection Update: Report on Federal & Florida Developments

Volume X, Number 2 - October / November 2001 © Donlevy-Rosen & Rosen, P.A. INTRODUCTION.  This issue was scheduled to discuss certain qualified retirement plan protection techniques. Instead, we want to alert you to interesting recent developments. FEDERAL UPDATE. The new bankruptcy law, which, prior to September 11, was certain to... Read more »

Keeping What’s Yours: Why Pay More In Estate Taxes Than you Have To?

Most issues of the APN dealing with offshore trusts have focused on the use of such trusts for asset protection. Another, very important, use of a certain type of offshore trust is to effect an estate tax savings. This is accomplished by “freezing” the value of trust assets vis-a-vis the settlor’s estate at current values.

The Cook Islands Stand Up to the U.S.

The Andersons established a Cook Islands Trust and funded it with (among other assets) commissions earned in connection with marketing late-night water-filled dumbbells and similar products. The Federal Trade Commission (“FTC”) sought to freeze the Anderson’s assets (along with the assets of others involved in the program) and found, to its dismay, that it could not freeze the Anderson’s assets because they were safely tucked away in a Cook Islands Trust.