Asset Protection Loopholes: Revisiting Fraudulent Transfers
In a recent conversation with a potential client, something became apparent: Many people think they can "game" the asset protection system. In some cases, that might be true. But when your hard-earned assets are on the line, do you really want to risk it? If you gamble on being able…
Asset Protection and Medical Malpractice
If you're a doctor, you almost certainly carry medical malpractice insurance and know that costs seem to escalate year after year with no end in sight. One alternative to carrying malpractice insurance is to set in place a comprehensive asset protection plan and then go without medical malpractice insurance. Where…
Asset Protection and ERISA
The Employee Retirement Security Act (“ERISA”) has an asset protection fail-safe mechanism built into it that ensures employees receive the benefits promised to them. ERISA qualified plans include pensions, 401(k) plans, profit sharing plans, and defined benefit plans. Non-ERISA plans like IRA accounts are only protected from the claims of…
Strategic Default – When More Than One Mortgage Is In Play
You don't have look far in mainstream media to find stories about strategic default. We've written about how strategic default is a morally defensible choice and about how we arrived in the current strategic default environment. This is an entirely different discussion that is aimed at people with two mortgages…
Absurd Distinctions in Asset Protection Law
We recently published an article about a California court ordering a Florida widow to sell her homestead and how the order was upheld in a Florida court. With respect to California asset protection laws as they relate to and are enforced in Florida, that's "how the cookie crumbles." A distinct…
Limitation of Asset Exemptions: Activist Judges
It's important to make sure that your wealth is locked up in exempt assets and that it can be exported to an offshore trust in the event of judicial intervention, so that it lays beyond the reach of unpredictable judges and very bendable court rules. An example of an exempt…
Asset Protection and the IRS
In speaking with a potential asset protection client last week, two separate questions came up. This post is intended to answer those questions, in case anyone else is facing the same issues. Part of what we do as asset protection attorneys at Lodmell & Lodmell is to answer your questions,…
Asset Protection Business Entities
Our site contains a lot of information on business entities created for the purposes of asset protection. Among those entities are limited liability companies, family limited partnerships, and offshore asset protection trusts. These are powerful tools, to say the least. When used properly and in conjunction with one another, they…