Category Archives: Asset Protection
Ask an Estate Planning Lawyer: Who Will Inherit Your Airline Miles?
If you have been working with an estate planning lawyer, you might think that all of your assets are accounted for in your estate plan. Maybe you have placed some of your assets in a trust, so that they will not have to go through probate. Perhaps some of your accounts are transferable on… Read More »
What is an Intentionally Defective Grantor Trust, and Could it Be Right for You?
An Intentionally Defective Grantor Trust (IDGT) is a type of irrevocable trust, generally created for the benefit of the grantor’s spouse, children, and/or grandchildren. This type of trust exploits a tiny loophole between estate law and income tax law that allows the trust to be a fully irrevocable grantor trust for estate law purposes,… Read More »
Are You Making These Common Asset Protection Mistakes?
In our society it is easy to become the target of someone attempting to get a judgment for money against you personally. Owning exposed assets makes you an exceptionally inviting target for a lawsuit. Thanks to the internet, it is now very easy for people to find all of your assets, such as real… Read More »
Do You Have an Asset Protection Plan in Place?
People in Florida work hard to earn the things that they have. If you own significant assets or property, it is important that you be sure to protect them from a potential lawsuit or creditors. Many people have worked with an attorney to initiate an asset protection plan, but if you don’t have one,… Read More »
Which Assets are Protected from Creditors Under Florida Law?
One of the goals of an estate planning attorney is to make sure his clients’ assets are protected. And, to be sure, one of the most important assets a person has is their retirement account. Unfortunately, these accounts are often the target of creditors, but luckily, many types of retirement accounts are protected by… Read More »
Lawsuit Challenges Legality of Online Property Value Website
The value of your home means a lot. Whether you are trying to sell it, use it to show assets, use it to take out an equity line of credit, or to demonstrate net worth, you generally want the value of your home to be as high as possible. Who Values Property? Property is… Read More »
What OJ Simpson Can Teach Us About Asset Protection
OJ Simpson was granted parole recently, and will be leaving prison in October. But while he will be free for the sake of having his rights restored and the ability to come and go, there’s one thing that the parole board can’t free him from: the obligation to pay back the multimillion dollar verdicts… Read More »
Can a Domestic Trust in Another State Protect Your Assets?
In the movies and in the news we see millionaires hiding their money in offshore accounts, in foreign countries under strange names, or in accounts with only numbers on them. The underlying strategy is to take advantage of laws of a different country to obtain greater asset protection benefits than what could be obtained… Read More »
Estate Planning Issues with Bitcoin
In case you hadn’t noticed, the value of virtual currency Bitcoin is going through the roof. This is just one fluctuation in the value of the currency, which has, during its short lifetime, both dropped in value dramatically and seen its value skyrocket in short periods of time. The operative word for Bitcoin thus… Read More »
What Happens When You Inherit Property That’s Being Foreclosed Upon?
When a loved one passes away, often what is left to inherit is the loved one’s home. That home may have extraordinary sentimental value. Or, it may be where you are currently living, or where other family members are living. But what happens when that property has a mortgage on it? And what happens… Read More »