Asset Protection

Illinois Ruling Strikes a Blow at Asset Protection Trusts

Posted on: October 1st, 2012
In Rush University v. Sessions, et al, the Illinois Supreme Court ruled that a transfer to a Cook Islands trust was per se fraudulent. ...

NC Dept. of Revenue issues Directive on $50k Business Income Deduction

Posted on: June 11th, 2012
North Carolina has a new law, G.S. 105-134.6(b)(22), that grants business owners a deduction of up to $50,000 of their net business income from NC taxable income....

New Hawaii Law to Help Protect Assets of Married Couples – NC Law is Not Quite as Helpful

Posted on: May 31st, 2012
Hawaii is on the verge of a step forward in the field of asset protection, with pending legislation awaiting the Governor’s signature that, if signed, would extend the shield of creditor protection available to married couples. ...

The Seven Levels of Asset Protection

Posted on: October 18th, 2011
Today I participated in a teleconference on Asset Protection Planning. Although the program was a bit basic for me, speaker Carl Waldman. Esq. included a helpful chart of the Levels of Asset Protection, which I have expanded on here:...

Nevada Asset Protection Trust Laws Improved

Posted on: October 3rd, 2011
Nevada’s new Domestic Asset Protection Trust (DAPT) laws became effective October 1, 2011. One new feature is the ability to move a DAPT that was established in another state to Nevada without having to start the statute of limitations period over....

President of Building Company Liable for Negligence Despite Acting on Behalf of Company

Posted on: August 26th, 2011
The January 2011 North Carolina Court of Appeals case of White v. Collins Bldg., Inc. involved purchasers of beach house who filed a negligence claim against several defendants, including the building company’s president and sole shareholder, Edwin E. Collins, Jr., alleging that he failed to properly supervise the construction of their home, leading to sustained water, window, and plumbing damage....
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