Asset protection works. If you have assets, it most certainly makes sense that you consider devising an asset protection strategy and implementing an asset protection plan as soon as possible. Why the urgency, you might ask. The answer has everything to do with the way the laws are written, and more fundamentally, with human psychology. …
Let's think about fraudulent transfers in a different way, just for a moment. Consider the example of Doc Holliday, a dentist who has recently lost a malpractice suit (but really it can be any type of person who has lost any type of claim--even a personal injury claim arising from a car accident). Because Doc…
If questions about asset protection in financially unsafe times are on your mind, you're not alone. In addition to wondering "how do I protect my assets from lawsuits?" one primary area of concern has been the preservation of purchasing power in uncertain economic times, because there are additional risks to your assets besides lawsuits. Let's…
Many of our clients have questions about strategic default and the consequences that can follow from defaulting on a mortgage that is "underwater." When the value of the real estate that is security for a loan falls below the amount due on the loan, the mortgage is said to be underwater. Many of the concerns…
Our first article on college 529 plans and asset protection generated a lot of questions that we're going to address in a series of articles. College 529 savings plans were created by an amendment to the Internal Revenue Code in 1996. These plans can be operated by states or by educational institutions, and they are…