So many Americans today are facing debt collection efforts that the system often appears to be overwhelmed. Mistakes seem to be getting more and more common.
A recent article by Teresa Dixon Murray in the Cleveland Plain Dealer described how
Schneider Smeltz Spieth Bell LLP
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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Majority of the World’s Companies are Family Businesses
By Ken Laino
The majority of the world’s enterprises today are family firms. That is according to David S. Landes, Professor Emeritus of History and Economics at Harvard and author of Dynasties – – Fortunes and Misfortunes of the World’s Great Family Businesses. …
Ohio is Currently One of the Best States for Asset Protection
By Ken Laino
Some states offer better asset protection alternatives than others. There are numerous factors to consider in deciding how good (or bad) a state is from an asset protection standpoint. These factors include:
Whether or not the state has a Domestic…
Mississippi is Latest State to Enact DAPT Statute
By Ken Laino
The Mississippi “Qualified Disposition in Trust Act” takes effect today. Mississippi has now become one of about fifteen states that have a domestic asset protection trust statute. Each of these state statutes is different. But they all offer (with certain…
Ohio and Several Other States Protect Inherited IRAs
By Ken Laino
As I noted in a blog post a couple days ago – – On June 12, 2014, the U.S. Supreme Court unanimously ruled that inherited IRAs are not exempt from creditor claims in bankruptcy. So in general, inherited IRAs…
Inherited IRAs Not Protected In Bankruptcy
By Ken Laino
Last week, the U.S. Supreme Court (in the case of Clark v. Rameker) decided that an inherited IRA is not protected from your creditors in bankruptcy.
Until yesterday’s ruling, courts had been split on this issue. In the…
Lawyers Can Face Severe Consequences For Helping a Client With a Fraudulent Conveyance
By Ken Laino
Courts in a number of states have specifically held that lawyers can violate applicable disciplinary rules by facilitating fraudulent conveyances. This can result in an attorney being suspended or even disbarred.
This is one of the reasons that an attorney…
Another Blow to Swiss Bank Secrecy
By Ken Laino
As highlighted yesterday on the front pages of the Wall Street Journal, the New York Times and other newspapers across the country- – Credit Suisse has pled guilty to conspiracy to aid tax evasion (by helping U.S. citizens unlawfully evade…
Second Annual Ohio Asset Protection and Legacy Trust Institute
By Ken Laino
Yesterday I attended the Second Annual Ohio Asset Protection and Legacy Trust Institute. The Institute was a full day continuing legal education program of the Ohio State Bar Association. It was sponsored by a trust company and several major banks,…
Asset Protection Strategies Can Have Significant Tax Consequences
By Ken Laino
Asset protection requires expertise in many different areas of law. One key area is litigation, since the ultimate test of any asset protection plan is how well it will hold up in court. Asset protection attorneys must also have expertise…