Category Archives: Asset Protection
Late Marlin Jose Fernandez’ Estate Battles Provide an Important Planning Lesson
Another tragic death is resulting in an almost equally sad dispute over assets and distribution of an estate. The family of Former Florida Marlins ace Jose Fernandez, who died in a boating accident last year, is currently embroiled in an estate dispute, which is another reminder of how important it is to plan ahead… Read More »
Judgments Don’t Go Away Even After Significant Time Has Passed
Often, people who have what they perceive as no assets, or who for whatever reason opt not to defend a claim against them or their business, make the decision to allow a judgment to be entered against them if they are sued. They often perceive themselves as being “uncollectable,” or worse, they may have… Read More »
All About the Blind Trust
During a presidential election cycle, interesting legal issues concerning criminal law, civil rights and social issues often arise. Rarely do estate planning topics enter the national debate, other than the occasional discussion of tax policy. But recently, the candidates and the media have been raising the issue of blind trusts. These trusts have long… Read More »
IRS Looks to End Popular Estate Planning Tool
Tax laws are very complex, as are IRS regulations. The tax code is often criticized as being overly complex, and every election year there are calls to simplify it. But sometimes, tax laws and proposed tax changes can be explained in normal real world terms. Such is the case with a proposed new IRS… Read More »
Benefits and Income That May Be Creditor Exempt
When we think of property or income that can’t be touched by most creditors, we tend to think of the more common ones, such as homestead property or an IRA. But there are many sources of income and assets that federal law protects from creditors (who aren’t collecting tax debts). Knowing about them can… Read More »
Don’t Make These Asset Protection Mistakes
Asset protection is not only a viable and recognized legal strategy to protect assets from creditors, but it’s also a very smart thing to do. Even if you aren’t a millionaire, you still may have assets that creditors could reach if a judgment were ever entered against you. That said, there’s good asset protection… Read More »
Muhammad Ali Estate Could Become Contested
As another world famous and world changing superstar passes away, this time Muhammad Ali, yet again come the reports surfacing of estate disputes, what the deceased intended, relatives coming seemingly out of nowhere to make claims, and reminders of how important it is to have an estate plan in place—even if you don’t have… Read More »
Lessons From Prince’s Estate Litigation
As anybody who follows the news knows, the estate of the rock icon Prince continues to be litigated in court, as issues and questions seem to arise regularly. In large part this is because Prince did not have a will nor any estate documents that anybody knows of. The publication Kiplinger recently ran an… Read More »
Florida’s Homestead Protections Affirmed in Recent Case
By now it should be clear that in Florida, a homestead is protected by creditors. But what happens when money from the sale of a homestead is placed in a bank account? The issue of whether these funds get the same protection as the homestead itself was the subject of a recent court decision…. Read More »
Prince’s Family Engaged in Difficult Estate Fight
We have often written about the importance of putting a will and other estate documents in writing, and about how doing so not only solidifies your wishes, but can avoid costly and contentious litigation between family members. It just so happens that the unfortunate passing of the music icon Prince is now revealing that… Read More »
