In case you needed yet another reason for asset protection planning…
An increasing problem with jurors is the unauthorized use of social media during trial. A recent front page article in the Cleveland Plain Dealer by Alison Grant on August 29, 2012 has some shocking examples. One juror tried to “friend” a witness. Jurors in
As I mentioned in a post about a year ago, estate planning and asset protection planning are not the same. They are related. It is often advisable to focus on them at the same time. But they involve different considerations.
Here is one example. A general rule for estate planning is to divide assets
Credit card companies certainly have the right to collect legitimate debts. But a recent New York Times article by Jessica Silver Greenberg reports that many of the recent lawsuits being filed by credit card companies rely on erroneous documents, incomplete records and generic testimony.
I recently represented a third-generation business owner who lost his business
A number of states have enacted Domestic Asset Protection Trust (DAPT) legislation. Ohio may soon join those states. These statutes authorize what are known as "self settled" trusts. This essentially means that the person setting up the trust is also one of its beneficiaries. Thus, the person setting up the trust is attempting
A so-called umbrella policy can provide substantial insurance coverage at a modest cost.
There are many reasons you need to protect your assets. We often focus on business and professional risks, economic problems, divorce and other catastrophic events. But disaster frequently strikes from much more routine events — like an auto accident.
Let’s say you
As I mentioned in a post last March most of us now have multiple on-line accounts; and very few people consider what happens if they die and no one can access those accounts.
One of my associates, David M. Lenz, recently published an excellent article on this topic titled "Afterlife on the Cloud". As
Last month, the Ohio House of Representatives passed House Bill 479, which I have discussed in posts on May 1, 2012 and May 23, 2012.
If the Ohio Senate goes along with the House, there will be a new Section 5816 of the Ohio Revised Code that provides for the Ohio Legacy Trust Act.
In my post of May 1, 2012, I reported that there was pending legislation in Ohio (House Bill 479) that would essentially provide an unlimited homestead exemption, similar to that in Florida, Texas and several other states.
On May 22, 2012 the Ohio House of Representatives passed House Bill 479, but it had significant
Asset protection statutes and case law vary significantly from state to state.
