Blog Posts in 2014
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Posted on Dec 29, 2014 By The Presser Law Firm, P.A.
Tenancy by the Entirety "TBE" only applies to married couples and is only available in a portion of the states (by statute). States that don't accept the TBE designation will either see ...
Continue reading "How can I use the Tenancy by the Entireties Designation in my Estate Planning?" »
Posted on Dec 22, 2014 By The Presser Law Firm, P.A.
In many cases we do. For maximum protection, it's best to have your limited partnership interest owned by an international asset protection trust. Under this arrangement, family members can be the ...
Continue reading "Can I have an international trust be the limited partner of my limited partnership?" »
Posted on Dec 15, 2014 By The Presser Law Firm, P.A.
No, but the limited partnership may then not adequately protect you. The reason is that your creditor might ignore the charging order remedy and instead attempt to set aside the transfer of your ...
Continue reading "Is it too late to transfer my investments to a limited partnership once I've been sued?" »
Posted on Dec 8, 2014 By The Presser Law Firm, P.A.
Yes. A correctly structured LP can provide some protection against divorce. For instance, the LP agreement may provide that if divorce forces an involuntary transfer of an LP interest to the spouse, ...
Continue reading "Can the limited partnership also protect against divorce?" »
Posted on Dec 1, 2014 By The Presser Law Firm, P.A.
That's the bottom line question. Surprisingly few creditors apply for charging orders – and for one good reason: The charging order creditor can become liable for federal taxes due on the ...
Continue reading "How frequently do a limited partner's creditors obtain charging orders?" »
Posted on Nov 24, 2014 By The Presser Law Firm, P.A.
Payable on Death Accounts "POD" are bank accounts that are created for the benefit of another. Some jurisdictions call these accounts Totten Trusts, informal trusts, revocable bank account ...
Continue reading "Can you tell me how Payable on Death Accounts work?" »
Posted on Nov 17, 2014 By The Presser Law Firm, P.A.
It's true that you can't as easily frustrate a creditor when you own a minority interest in a limited partnership that has outside investors and an unaffiliated general partner whose interests ...
Continue reading "If I own a limited partnership interest in a limited partnership but do not control the profit distributions, couldn't I then lose those profit distributions?" »
Posted on Nov 10, 2014 By The Presser Law Firm, P.A.
It works in much the same way that an LLC protects assets. A limited partnership is a COPE or charging order protected entity. A limited or general partner's creditor cannot seize the debtor's ...
Continue reading "How does a limited partnership protect investments?" »
Posted on Nov 3, 2014 By The Presser Law Firm, P.A.
There are a number of interesting possibilities. For example, the limited partners can allocate their ownership interests or profit distributions as they elect. This is important for protection. For ...
Continue reading "How can we most defensively structure our limited partnership?" »
Posted on Oct 27, 2014 By The Presser Law Firm, P.A.
The Totten Trust is an arrangement created by a person depositing his or her own money in his or her own name in a bank account for the benefit of another. The Totten Trust originated from the case, ...
Continue reading "What is the Totten Trust?" »
Posted on Oct 20, 2014 By The Presser Law Firm, P.A.
The limited partnership "LP" is an excellent vehicle to safeguard savings, CDs, money market funds, mutual funds, stocks, bonds, REIT interests, C corporation shares, limited liability ...
Continue reading "What assets can the limited partnership own and what assets should it not own?" »
Posted on Oct 13, 2014 By The Presser Law Firm, P.A.
A limited partnership has one or more general partners and one or more limited partners. The general partner(s) have the same rights and liabilities of a partner in a general partnership – they ...
Continue reading "Can you give me an overview on how the limited partnership protects liquid assets?" »
Posted on Oct 6, 2014 By The Presser Law FIrm, P.A.
Here you have several good options. One option is to title your cash, CDs, mutual funds and other liquid investments to one or more limited partnerships (LPs). We most frequently use LPs to protect ...
Continue reading "What is the best way to protectively title investments and other liquid assets?" »
Posted on Sep 29, 2014 By The Presser Law Firm, P.A.
In some states, such as Florida, it is desirable to pass assets outside of the Probate court. There are many tools that you can use to achieve this objective. One such tool is life insurance and ...
Continue reading "Can you tell me about using Life Insurance and Annuities as a Will Substitute?" »
Posted on Sep 22, 2014 By The Presser Law Firm, P.A.
Obviously, it's the most dangerous way to title these important assets. Yet many people who own considerable investments do title their accounts in their individual names. Or the spouses may own ...
Continue reading "How unsafe is it for spouses to own their investments (savings, CDs, stocks, bonds, mutual funds, etc) in their individual names?" »
Posted on Sep 15, 2014 By The Presser Law Firm, P.A.
Property owners are smart to consider this point. While they have no personal liability for the contracts and debts of the LLC; they can nevertheless be personally sued, together with the LLC, for ...
Continue reading "How can I reduce my personal exposure from managing the properties in my LLCs?" »
Posted on Sep 8, 2014 By The Presser Law Firm, P.A.
There are endless strategies. For example, you may try to depress the value of your property so it has less equity susceptible to creditors. For instance, you might give purchase options to ...
Continue reading "What strategies can be used to reduce the equity in investment real estate?" »
Posted on Sep 1, 2014 By The Presser Law Firm, P.A.
Protecting the cash proceeds from borrowing against your properties is far easier than structuring the mortgages. You wouldn't normally equity-strip your properties until you're in crisis mode ...
Continue reading "If I equity-strip or lien my properties; how do I shield the loan proceeds?" »
Posted on Aug 25, 2014 By The Presser Law Firm, P.A
The Probate process can be very long, expensive and stressful on a family. It is always best to avoid probate and you can do so by utilizing one of the following methods: Having beneficiaries listed ...
Continue reading "How can I avoid Probate?" »
Posted on Aug 18, 2014 By The Presser Law Firm, P.A.
Structuring secured liens against investment property requires careful planning and attention to detail. You must also observe the applicable tax and other laws involved over the life of the lien. You ...
Continue reading "How difficult are equity reduction strategies to set up?" »
Posted on Aug 11, 2014 By The Presser Law Firm, P.A.
Yes, provided you don't commit perjury to maintain your secrecy. A more aggressive plan will reduce your visibility as the legal owner of the lending corporation, partnership or LLC. As a minority ...
Continue reading "Isn't it safer to conceal my affiliation if I obtain loans against my properties through affiliated lenders?" »
Posted on Aug 4, 2014 By The Presser Law Firm, P.A.
A debtor's family members – parents, siblings and other relatives − can encumber the debtor's property. Related parties are legally distinct parties. Liens or security interests ...
Continue reading "Can I arrange loans against my properties by borrowing from relatives?" »
Posted on Jul 28, 2014 By The Presser Law Firm, P.A.
Probate is a legal process that takes place after someone dies. It includes administering a deceased person's Will, identifying proper beneficiaries for the deceased person's assets, having ...
Continue reading "What is Probate?" »
Posted on Jul 21, 2014 By The Presser Law Firm, P.A.
Yes. 'Cash' loans most effectively equity-strip property, but they have their drawbacks. Your lender pays taxes on your interest payments, and you may not be able to fully encumber your assets ...
Continue reading "Can a mortgage securing my real estate be based on consideration other than an actual loan?" »
Posted on Jul 14, 2014 By The Presser Law Firm, P.A.
Absolutely. You want to adopt the same equity reduction strategies you'd use with your home. The goal is to fully encumber your real estate. You want that profile of 'poverty' that ...
Continue reading "Once we protectively title each property, should we reduce its exposed equity with debt-shields as you suggest with the family home?" »
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