Asset Protection Blog
Posted on Aug 13, 2018
It's not necessarily too late to protect your assets if you have already been sued or have financial troubles. An Asset Protection attorney will have limited tools to work with. Of course, as we ...
Continue reading "Is it too late to protect my assets if I have already been sued or have financial troubles?" »
Posted on Aug 6, 2018
While staying tax compliant and cooperating with the IRS are obvious, there are other Asset Protection strategies to avoid the potential loss of assets to the IRS. We would give these important ...
Continue reading "How can the potential loss of assets to the IRS be avoided?" »
Posted on Jul 30, 2018
While it’s true that there are some really good companies with fill-in-the-blank templates online, more often than not a DIY Estate Plan can be riddled with error. Instructions for ...
Continue reading "The Dangers of DIY Estate Planning" »
Posted on Jul 23, 2018
Involve an Asset Protection Attorney in your planning. The interplay between Asset Protection and bankruptcy law can be extremely complex, and the new bankruptcy laws raise many unanswered questions. ...
Continue reading "What are some precautions for debtors planning bankruptcy?" »
Posted on Jul 16, 2018
The safest strategy to protect non-exempt assets is to convert unprotected assets into exempt assets. But you must then wait forty months before you file bankruptcy. A well-drafted limited partnership ...
Continue reading "How can I protect my non-exempt assets in a bankruptcy?" »
Posted on Jul 9, 2018
Bankruptcy automatically stops creditor lawsuits, collections or repossessions. The automatic stay under bankruptcy further transfers pending or future collection and debtor-creditor cases from other ...
Continue reading "Can bankruptcy stop foreclosure of my property or seizure of other assets by a judgment creditor?" »
Posted on Jun 25, 2018
A Last Will and Testament is a document that states how your probate assets will be distributed at your death, who will act as the personal representative (executor) and who will be guardians of your ...
Continue reading "What can happen if my Will is not created properly?" »
Posted on Jun 18, 2018
Bankruptcy won’t extinguish every debt. Debts usually not dischargeable in bankruptcy include: Federal taxes less than three years old and state and local taxes Child support and alimony Student ...
Continue reading "What debts are not dischargeable in bankruptcy?" »
Posted on Jun 11, 2018
Bankruptcy timing is critical. Debtors frequently file too soon or too late. In either instance, they lose possible benefits from their bankruptcy. Some tips: 1) Collect your tax refunds before you ...
Continue reading "Five timing factors to consider when filing bankruptcy" »
Posted on Jun 4, 2018
There are several forms of bankruptcy. Each is designed for individuals and businesses in different financial situations. Chapter 7 Chapter 7 Bankruptcy, also known as straight or liquidating ...
Continue reading "What are the different types of bankruptcy?" »
Posted on May 29, 2018
An Estate Plan should be reviewed after any life change. Marriage, divorce, the birth of a child, illness, a change of financial situation, and moving to another state all constitute life changes. Any ...
Continue reading "When should I have my Estate Plan reviewed?" »
Posted on May 21, 2018
Bankruptcy may be your best option if you are convinced you can’t win and can’t settle, or if you have few assets to lose in bankruptcy. The mere threat of bankruptcy may be enough to ...
Continue reading "If I am sued, wouldn't it make sense to simply file bankruptcy rather than defend against the claim?" »
Posted on May 14, 2018
Any debtor with serious financial problems should consider bankruptcy. However, bankruptcy isn’t always the right answer. Bankruptcy is the answer only when you have too many debts to pay from ...
Continue reading "When should you consider bankruptcy?" »
Posted on May 7, 2018
Bankruptcy is increasingly necessary for the financially-troubled individual and company. More than two million individuals and companies file bankruptcy annually; not a surprising statistic once you ...
Continue reading "The role of bankruptcy in Asset Protection planning" »
Posted on Apr 30, 2018
When a person passes without a will, they are said to die intestate. In these instances, their probate assets will be distributed to their heirs in accordance with the state’s intestacy laws. ...
Continue reading "What does it mean to 'die intestate'?" »
Posted on Apr 23, 2018
Divorce lawyers can consume one-third or more of a divorcing couple’s assets. In a sense, you may need as much protection against huge legal fees as against spousal claims. Why fight to keep ...
Continue reading "Five ways to lower huge legal fees when divorcing" »
Posted on Apr 16, 2018
This is a growing legal concern because many more couples now live together without marrying. Some want to test their relationship. Older folks may live together because marriage would disqualify them ...
Continue reading "How can a cohabitating couple avoid legal claims and property disputes?" »
Posted on Apr 9, 2018
Spouses who are most often cheated out of marital assets in divorce are usually those spouses who know too little about the family finances. Divorcing spouses can be dishonest. Asset searches by ...
Continue reading "How can I protect my assets from a spouse who may dissipate or conceal marital assets before the divorce?" »
Posted on Apr 2, 2018
Divorce courts divide property either as equitable distributions or as community property. Courts in equitable distribution states have the discretion to divide whatever property is owned by both ...
Continue reading "How do divorce courts divide assets?" »
Posted on Mar 26, 2018
The first consideration in Estate Planning for couples is marriage. In the following article, we’ll define what a “couple” is, as well as the two marriage options. What constitutes a ...
Continue reading "Estate Planning Considerations for Couples: Religious vs. Civil Marriages" »
Posted on Mar 19, 2018
A common, simple asset protection strategy is to title marital assets with the less-vulnerable spouse. This spouse then controls the assets and can sell, encumber or conceal the entrusted assets. ...
Continue reading "If the family assets are titled to a spouse who is likely to incur liability, are these assets lost to that spouse in divorce?" »
Posted on Mar 12, 2018
Sometimes spouses planning divorce do shelter their assets in international asset protection trusts. Although they must disclose these trust assets to the divorce court, the court generally cannot ...
Continue reading "Can assets be divorce-proofed by transferring them internationally?" »
Posted on Mar 5, 2018
Sometimes it’s a good idea for spouses to negotiate post-nuptial agreements. Though married couples can legally contract, they cannot bargain away the same rights that they could under a ...
Continue reading "Are post-nuptial agreements for spouses helpful?" »
Posted on Feb 26, 2018
That is a great question! Many people face this issue and don’t know what to do. It is extremely important to contact a knowledgeable Estate Planning Attorney if you happen to experience this ...
Continue reading "What do I do if I can't find my Original Revocable Living Trust Agreement but I still have the Copy?" »
Posted on Feb 19, 2018
Family limited partnerships (FLPs), limited liability companies (LLCs) and corporations might be useful to help you control certain assets if you divorce. If you set up the entity and transfer your ...
Continue reading "Can a limited partnership or LLC effectively 'divorce-proof' my assets?" »
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