In April of 2018, the Georgia legislature presented to Governor Nathan Deal HB 441 for signature, which permitted the use of DAPTs in Georgia. The statute contained many of the similar flavors of other DAPT statutes, with a few notable
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Schneider Smeltz Spieth Bell LLP is a Cleveland, Ohio-based law firm with a history dating back to 1867. The firm provides legal services in areas including business law, litigation and appeals, real estate, and trusts and estates. Their publications often analyze recent case law and legislative developments, particularly focusing on asset protection, creditor-debtor relationships, and estate matters. The firm’s blog content includes detailed reviews of court decisions and legislative actions relevant to these practice areas, offering insights into legal strategies and implications for clients and practitioners.
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2018 Year-End Review: Part Three: Embassy Healthcare v. Bell
Our last case law discussion comes to us from the Ohio Supreme Court in Embassy Healthcare v. Bell. This case provides a great illustration of facts that many may one day encounter: a nursing home sought payment from a surviving…
2018 Year-End Review: Part Two: Toni 1 v. Wacker
Our second decision comes from the Supreme Court of Alaska. This decision is a core illustration of the potential problems with establishing a domestic asset protection trust (DAPT) for a resident of a state that does not allow DAPTs.…
2018 Year-End Review: Part One: In re Olson
Part One: In re Olson
Part one of our 2018 asset protection year-end review begins with the case of In re Olson. This case is yet another reminder that it is critically important to engage in asset protection planning before…
2018 Year-End Review
2018 saw a number of interesting cases and developments in asset protection law. I would like to discuss and summarize many of these key developments in a 2018 asset protection law year-end review. To prevent posting one very lengthy and…
Ohio Ranked in the Top 5 For Asset Protection Trust Laws
A recent release by a well-known Nevada asset protection lawyer ranks states by their domestic asset protection trust laws. Ohio was ranked in the top 5 nationwide, at number 4 (behind only Nevada – in which the ranking lawyer lives…
Asset Protection Beyond the Grave: Claims Against a Deceased Person’s Assets
In 2017 there have been a variety of discussions among leading estate planning attorneys about the extent to which Ohio law now protects a deceased person’s assets from the claims of a creditor. For many years it has been clear…
Reflections on 2016 Ohio Asset Protection Developments
By Ken Laino
During 2016, Ohio continued to stand out as one of the best asset protection jurisdictions in the country. I have noticed that more people are becoming aware of the significant opportunities offered by Ohio’s Legacy Trust statute. As I have…
Ohio Statute Specifically Covers Single Member LLCs
By Ken Laino
Ohio amended its limited liability company statute earlier this year. As I explained in prior posts on June 16 and July 15, 2016, the amendments strengthened the asset protection provisions of the statute.
One of the most important changes…
Settlor Can Retain a Lot of Control Over an Ohio Legacy Trust
By Ken Laino
As I previously noted in a post back in 2013, you can establish an Ohio Legacy Trust without giving up complete control of your assets. Your Trust must be irrevocable and you cannot serve as your own Trustee. But…