Asset Protection and Security Interests
A lot of people wonder about the legality of asset protection strategies, and rightfully so. There are many, many people who market and sell asset protection plans that either won't work, are unlawful, or both. All of our plans are 100% legal and 100% effective. Yes, even the offshore trust…
Expanding the Definition of Malpractice (and the need for Asset Protection)
Recently the Texas Supreme Court ruled that a death caused by a spider bite is the proper subject of a medical malpractice lawsuit. It seems that courts are getting carried away (even more than usual), which is why any complete asset protection plan includes an offshore trust component. This is…
Charging Order Plus: Another Layer of Asset Protection
In some states, limited liability companies ("LLCs") and family limited partnerships are protected by charging order statutes. A charging order is a judicial remedy that can be used by a creditor to collect from a debtor who owns an interest in certain types of business entities. Charging order statutes limit…
Asset Protection Planning Trumps “Playing it by Ear”
Setting up systems to handle known problems or issues that repetitively present themselves is generally a very good idea. It reduces the time required to asses the issue, develop a solution, and implement the plan. In essence, having systems reduces stress, because you know how certain issues will be tackled. …
Asset Protection for Wages
One of your greatest assets is the ability to produce an income--the ability to earn money by working. The judicial system recognizes that our capacity to earn is quite valuable. It also recognizes that most people have to work just to survive. In other words, our earning capacity is a…
Spendthrift versus Grantor Trusts
Asset protection trusts come in at least two varieties: Grantor trusts and spendthrift trusts. A grantor trust is a trust established by a person (the "settlor" or "grantor") for the benefit of the settlor. An example of a grantor trust would be Bugs Bunny setting up a trust and naming…
Southpac Offshore Invites Douglass Lodmell to Annual Conference
Join Douglass Lodmell at Southpac Offshore Planning annual conference on October 27-28 in the Bahamas. This two-day events will feature several of the nation's foremost authorities on asset protection, offshore banking, life insurance and annuities. Topics to be addressed include foreign asset protection trusts, creditor challenges to asset protection, life insurance and…
Secrecy, Asset Protection, and Entity Formation
Some states make limited liability companies disclose the names of owners and managers. Other states don't require such disclosure. Charlatans running asset protection scams will do their best to convince you that secrecy is the key to protecting your wealth. The truth is that secrecy (e.g. lying under oath) could…