Asset protection news by experts, with latest information on the laws, cases and application of trusts and legal entities
We wrote about the asset protection legislation being considered by the Florida Senate and House of Representatives. Well, both houses passed the bill, and it is now just awaiting the Governor's signature. Here's what the new law means for Florida…
Asset protection is now more popular than ever, as a buzz phrase at least. It's very easy for estate planning or even corporate or small business attorneys to bill themselves as asset protection lawyers and tack on "asset protection" as…
Many classes of assets are considered exempt assets. Exempt assets are simply those assets that a creditor cannot to "look to" in satisfaction of a judgment. For example, if Tom wins a lawsuit against Jerry, Tom is now a judgment…
The beauty of the asset protection strategies that we implement at Lodmell & Lodmell is that they allow easy access to money that is otherwise unavailable to creditors and plaintiffs. The way we do this is through a particular type…
Any good asset protection lawyer knows that bullet proof planning requires a number of layers. We use tools ranging from limited liability companies to family limited partnerships and offshore asset protection trusts. One strategy that we've discussed a lot is…
Asset protection lawyers have been taking advantage of limited partnerships for hundreds of years. Limited partnerships originated from a time when European shipping businesses began to operate globally. The goal in creating limited partnerships was to allow multiple individuals or…
The typical offshore trusts that we create for our clients are tax neutral. That simply means our asset protection structures do one thing very, very well . . . they protect your assets . . . but they are not…
A client posed an interesting California asset protection question the other day: "If my business gets sued, why can't I just shut it down and open an new business doing the same thing?" This client is really thinking about asset…
In part I of Florida Homestead and Asset Protection, we concluded the discussion with a broad statement that Florida homestead exemptions are available only to individuals or "natural persons." Availability of Homestead for Asset Protection While it is true that…
Many people confuse asset protection with hiding assets. At Lodmell & Lodmell, we help our clients develop asset protection strategies and put put asset protection mechanisms in place so that assets don't need to be hidden. What we do is…