It is highly advisable to focus on asset protection and estate planning at the same time. Keep in mind, however, that you will likely need separate documents for each type of planning. Most people who set up an asset protection trust
Asset Protection Law Journal
Helping individuals and businesses take advantage of asset protection laws
The Asset Protection Law Journal, published by Schneider Smeltz Spieth Bell LLP, focuses on legal issues surrounding asset protection strategies, including domestic and offshore trusts, fraudulent transfer litigation, and creditor-debtor disputes. It covers case law developments related to domestic asset protection trusts (DAPTs), bankruptcy implications of asset transfers, and legislative changes affecting asset protection planning. The journal also discusses practical considerations for attorneys and clients in structuring asset protection arrangements, timing of transfers, and the interplay between state and federal jurisdiction in trust-related litigation. It provides analysis of court decisions impacting creditor claims, estate liabilities, and the enforcement of financial obligations within the context of asset protection.
Latest from Asset Protection Law Journal - Page 4
Keep Bankruptcy Code §548(e) in Mind if You Have a DAPT
By Ken Laino
About 16 states now have laws that allow a Domestic Asset Protection Trust (DAPT). These trusts can be very useful to protect assets in many situations. But keep in mind that a DAPT (like other asset protection strategies) is designed…
Thorough Estate Planning Can Help Protect Assets – and Provide More Privacy
By Ken Laino
Much of my work is centered on helping clients protect their assets during their lifetimes. But most people also want to make sure that their assets are protected after their deaths.
Correcting Your Credit Report May Be Harder Than You Think
By Ken Laino
Many people assume it is relatively easy to correct an error in their credit report. That is simply not the case. In one of my recent blog posts I explain that debtors often face an uphill battle when they try…
Nursing Homes Use Guardianship Law as a Collection Tool
By Ken Laino
An amazing article on the front page of today’s New York Times reports that nursing homes in New York are increasingly seeking guardianship over certain residents simply to gain control of their finances. The author, Nina Bernstein, acknowledges that in…
Insurance Should Be Part of Your Asset Protection Plan
By Ken Laino
Articles that seemingly have nothing to do with asset protection might still provide valuable asset protection reminders. A recent article by Teresa Dixon Murray in the Cleveland Plain Dealer is a good example. The article discusses an individual who keeps…
Debtors Are Often Easily Victimized By Bogus Collection Agencies
By Ken Laino
Anyone who is deeply in debt knows the terrible stress and fear that often results from being in that situation. So it is no surprise that many debtors are easily victimized by phony collection agencies.
Two or More APTs May Be Advisable In Some Situations
By Ken Laino
In Ohio (as in other states that have enacted a Domestic Asset Protection Trust Statute), it may be advisable to have two or more trusts as part of an overall asset protection plan.
For example, a husband and wife may…
Social Media Explosion Creates Even Greater Urgency for Asset Protection Planning
By Ken Laino
An interesting article by Cindy Krischer Goodman in the Miami Herald provides some excellent examples of how fortunes today can change in an instant — due to social media. For example, racist comments in a private phone conversation between the…
Ohio Legacy Trust Not Likely To Affect Your Income Taxes
By Ken Laino
Clients frequently ask about potential income tax aspects of an Ohio Legacy Trust.
An Ohio Legacy Trust will likely have no effect at all on your income tax situation. The trust will be structured so that it is a grantor…