Asset Protection Law Journal

Asset Protection Law Journal

Helping individuals and businesses take advantage of asset protection laws

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Ohio Legacy Trust Can Be A Good Prenuptial Tool

Posted in Divorce and Prenuptial Agreements, Ohio law, Ohio Legacy Trusts

Ohio Revised Code §5816.03 (C) provides that certain creditors can defeat the spendthrift provisions of an Ohio Legacy Trust.  This includes claims for child support and alimony.  But the applicable provisions of the Ohio statute only apply to a “spouse or former spouse.” This means that if an Ohio Legacy Trust is formed before you… Continue Reading

Alimony and Child Support Excluded from Protection of Ohio Legacy Trust Act

Posted in Divorce and Prenuptial Agreements, Domestic Asset Protection Trusts

The Ohio Legacy Trust Act, which will become effective in March of 2013, cannot be used to avoid child support or alimony payments.  The new statute (part of Ohio House Bill 479) provides creditor protection under certain circumstances for assets contributed to a legacy trust (also commonly known as a domestic asset protection trust).  But… Continue Reading

Mortensen Case Highlights Fraudulent Conveyance Issues

Posted in Divorce and Prenuptial Agreements, Domestic Asset Protection Trusts, Fraudulent Conveyances

A recent decision by the United States Bankruptcy Court for the District of Alaska (In Re: Thomas Mortensen, Case No. A09-00565-DMD) is clearly worth reading — for a discussion of fraudulent conveyances, Alaska asset protection trusts, applicable statutes of limitations, and a variety of other asset protection topics.  I will likely comment on this recent case in… Continue Reading

Prenuptial Agreements

Posted in Divorce and Prenuptial Agreements

It is probably just a sign of the times, but my law firm seems to assist more and more people each year with prenuptial agreements.  These agreements are important from an asset protection standpoint.  Many of the assets accumulated during your marriage will be subject to claims of your spouse if you get divorced.  A… Continue Reading