In April of 2018, the Georgia legislature presented to Governor Nathan Deal HB 441 for signature, which permitted the use of DAPTs in Georgia. The statute contained many of the similar flavors of other DAPT statutes, with a few notable exceptions like allowing tort creditors to reach assets in the DAPT. A few days after being presented with HB 441, Governor Deal vetoed the bill.

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Our last case law discussion comes to us from the Ohio Supreme Court in Embassy Healthcare v. Bell. This case provides a great illustration of facts that many may one day encounter: a nursing home sought payment from a surviving spouse of a decedent spouse’s outstanding bill. But where this case is particularly interesting is the method by which the nursing home sought payment.

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Part One: In re Olson

Part one of our 2018 asset protection year-end review begins with the case of In re Olson. This case is yet another reminder that it is critically important to engage in asset protection planning before you have a creditor problem.

The decision comes to us from a U.S. District Bankruptcy Court in California. Olson was married to a NASA engineer who formed a startup company that sought to specialize in surveying for oil using an airplane and other specialized technology. The startup received hundreds of millions of dollars in investor capital, but when the price of oil collapsed, so too did the company. As a result of the collapse, Olson was served with a lawsuit from a creditor. After being served, she transferred $4.6 million in assets into a Cook Islands trust.


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