Certain life insurance products (as well as certain arrangements like an irrevocable life insurance trust) can provide asset protection advantages. For example, if you have a significant amount of cash that is not otherwise needed, and you also have the need for life insurance, a single premium whole life policy might be appropriate. Cash that
August 2011
Debt Collectors: What They Can and Cannot Do
A July 31, 2011 article in The Sacramento Bee had a good summary of what a debt collector can and cannot do. The article was written by Claudia Buck (McClatchy Newspapers). It included excerpts from an interview with Robert Tavelli, former president of a private California debt collection firm.
Debt collectors are subject to a…
Statute of Limitations for Fraudulent Transfers
The statute of limitations relating to a fraudulent transfer can vary significantly from jurisdiction to jurisdiction. In Ohio, Section 1336.09 of the Ohio Uniform Fraudulent Transfer Act provides that a claim for relief must generally be brought within four years after a transfer was made. But even if that period has expired, a claim may…
The Delaware Chancery Court
The Court of Chancery in Delaware is well respected by business lawyers from coast to coast. A recent New York Times article (which I discussed in another recent post) explains that the Delaware Chancery Court has a reputation for quick and knowledgeable business decisions. This is one of several reasons that so many businesses are…
Delaware Law Provides Stability and Certainy for Businesses and Their Owners
Approximately 900,000 businesses are incorporated in Delaware, including 63% of all fortune 500 companies. This is according to Rita K. Farrell in a recent New York Times article.
In various other posts, I have explained how Delaware’s LLC statute provides better asset protection for LLC owners than the law in many other states. The…