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…
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. …
Florida asset protection law was in flux for a while with respect to inherited IRA accounts. A number of Florida courts had decided that an IRA inherited by anyone other than a spouse constituted inheritance rather than retirement savings. The…
We have written pretty extensively on the Olmstead decision handed down by the Florida Supreme Court. It seems that many people, in addition to asset protection attorneys, are considering the potential long-term impact of that opinion, the Florida Legislature included. …
New Jersey is another state from which many people call with questions about asset protection. Rightly so, because New Jersey does not offer any homestead exemption, which means that anyone with unprotected assets is completely at risk of losing EVERYTHING,…
Some states are more favorable to asset protection than others. One way to tell whether a state is favorable to asset protection is to look at whether it has a charging order statute in place. Some state statutes specify that…
We wrote previously about Olmstead v. FTC and its possible effect on asset protection plans. This article is an in depth look at the Olmstead decision itself, the reasoning employed by the Justices of the Florida Supreme Court, and the…
The Family Liability Partnership can be a good strategy for asset protection when an individual's worth is equal to or below $250,000. However, there may be ways through which a creditor or plaintiff may try to get access to the…
Does Jurisdiction Matter? There is no doubt that jurisdiction matters a great deal. This is particularly true for common estate and asset protection planning tools such as Limited Partnerships and Limited Liability Companies. The reason jurisdiction matters so much is…
On June 24, 2010 the Asset Protection world got news of yet another significant case that makes us look again at how strong domestic asset protection really is. Once again the FTC is at the masthead (Remember FTC vs. Affordable…