Florida’s “sacred” homestead creditor exemption recently came under attack in Havoco of America, Ltd. v. Hill. In that case, a debtor acquired a Florida homestead using funds which were not previously exempt from creditor claims (if the funds had been exempt, there would have been no case).
Mar
01
Domestic Asset Protection Trusts
Many seminars and articles of late have introduced the concept of domestic asset protection trusts (APT’s). This is primarily a result of the 1997 enactment of “protective” trust legislation by Alaska and Delaware. In this issue we will examine how effective these domestic asset protection trust laws are in protecting assets.
May
01
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.
Jan
01
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.
Jul
01
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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