Asset Protection

News & Analysis as of

How to Protect Your Personal Treasure in a Legal Lockbox

When you are in a high-profile profession—doctor, attorney, business owner—you have a lot to lose. Being in your position, you are a high liability target for lawsuits and claims. No one wants to lose their...more

Asset Finance & Leasing Newsletter

New GAP Insurance Rules - The FCA published new rules in June governing the sale of addon Guaranteed Asset Protection (GAP) insurance. The rules came into force on 1 September 2015 and apply to commercial customers as well...more

Uniform Voidable Transactions Act (UVTA) Threatens Asset Protection Planning

The UVTA has been enacted in several states. The Act is a reworking of fraudulent conveyance law, which allows a creditor to avoid transfers made that attempt to put property beyond the reach of a creditor. A number of...more

Asset protection: Back to basics

Asset protection trusts can be highly effective vehicles for protecting wealth in today’s litigious society. But these trusts can be complex and expensive, so they’re not right for everyone. For those seeking simpler asset...more

The End of the Line – Part I: Year End Tax Planning Strategies

This article is designed to provide an overview of a technique that might allow taxpayers to accomplish significant income tax savings at the end of the 2015 tax year. This planning can be accomplished regardless of whether...more

The Benefit of Establishing an Offshore Asset Protection Trust While the Coast is Clear

Offshore asset protection trusts avoid or diminish a number of creditor exposures that apply to such trusts organized in the U.S. High net worth individuals and persons involved in high liability exposure businesses and...more

Adults with Special Needs May Soon Be Able to Streamline the Process to Establish First Party Special Needs Trusts on Their Own: A...

In 1993, Congress enacted Section 1917(d)(4)(A) of the Social Security Act, authorizing the establishment of special needs trusts (also called first-party trusts and self-settled trusts). First-party special needs trusts...more

New Hampshire Passes Legislation to Regulate the Offering of Guaranteed Asset Protection Waivers

On July 6, Governor Maggie Hassan (D-NH) signed into law Senate Bill 119/Chapter 207 to regulate the offering of GAP waivers. The act also amends the terms of Consumer Guarantee Contracts to limit the consumer’s ability to...more

The Obergefell Decision and Property Considerations for Married Same-Sex Couples

In Obergefell v. Hodges, the United States Supreme Court, in a 5-4 opinion, determined that prohibitions on same-sex marriage are an unconstitutional infringement of Fourteenth Amendment rights. This decision throws the doors...more

Minnesota Passes Legislation to Exclude Guaranteed Asset Protection Waiver Policies from Insurance Definition

On June 13, Governor Mark Dayton (D-MN) signed into law H.F. 3/Chapter 1, which, in part, excludes Guaranteed Asset Protection (GAP) waiver policies from the definition of insurance. Effective August 1, the act specifies that...more

Closing a Facility? Don’t Create Human Capital Problems

In recent years, manufacturers have closed facilities, corporate offices, warehouses, and production plants, for a variety of reasons. All too often, manufacturers overlook important legal requirements or planning steps,...more

Asset Protection Strategies

During the estate planning process a question we are frequently asked relates to the best way to protect assets from creditors. The easy answer, although not the most satisfactory, is to give the assets in question away,...more

South Carolina Passes Legislation to Create the Guaranteed Asset Protection Act, Effective Immediately

On June 1, Governor Nikki Haley (R-SC) signed into law Senate Bill 441, enacting the Guaranteed Asset Protection Act and instituting a framework under which guaranteed asset protection (GAP) waivers may be offered in South...more

Dodd-Frank News: April 2015: Dodd-Frank Wall Street Reform and Consumer Protection Act Update

The Dodd-Frank Wall Street Reform and Consumer Protection Act was enacted as a measure to promote financial stability and protection for consumers through increased regulation of nearly every aspect of the consumer finance...more

Enforcement Challenges For Biotech Patents [Video]

Enforcing intellectual property rights can be a challenging affair, and this is particularly true in the biotech industry. Attorneys Seth Northrop and Matt McFarlane discuss the issues facing biotech patent holders today,...more

International Fraud & Asset Tracing (3rd Edition), France

In this Guide: - Introduction - Managing the Internal Investigation - Disclosure from Third Parties - Steps to Preserve Assets/Documents - Civil Proceedings - Anti-Bribery/Anti-Corruption Legislation -...more

Do We Have the Right to Sell Our Products/Services?!

Intellectual property (IP) due diligence is an assessment of the IP owned or used by a company and third-party IP rights that may impact the company’s business. More often than not, companies do not think about IP due...more

New Year’s Resolution Continued: the Multi-State Non-Compete Agreement

With (most of) 2015 ahead, it is an opportune time to continue with our theme of employee non-compete agreements and resolving to review, assess and update your company’s agreements as a critical component of your ongoing and...more

Get smart when tackling estate planning for intellectual property

How should one account for intellectual property (IP), such as a patent or copyright, in their estate plan? These intangible assets can be highly valuable, and they should be handled according to the owner’s wishes. This...more

Five Intellectual Property Considerations for Startups - Part I

A successful startup provides a solution to a market need. Typically, the solution involves a new or improved device or technique. As a startup defines and develops its solution, intellectual property (IP) becomes a core...more

Are You Taking Care to Create Value for Your Company's "Secret Sauce?"

To develop a successful long-term risk minimization strategy, your company must take time to create and protect valuable intellectual property assets. To be effective, this strategy will involve critically analyzing your...more

Asset Protection for Inherited IRAs

Owners of large retirement accounts may be lulled into complacency concerning the asset protection available to these special assets. The funds which you (and perhaps also your employer through a matching program) have...more

Estate Planning Pitfall: Watch out for IRA traps

An IRA can be a valuable estate planning tool, offering tax-deferred growth (tax-free in the case of a Roth IRA) and asset protection. But two recent developments create traps for the unwary: the “one-rollover-per-year” rule...more

Protecting Financial Stakeholders: Using Rule and Statutory Interpleader (Part 2)

In my last blog post on interpleader actions, we explored the benefits a financial services firm can obtain from filing an interpleader action. An interpleader action protects the holder of assets (such as a bank account,...more

Protecting your real estate assets

When preparing an estate plan, asset protection for real estate is particularly challenging, because it’s the only asset that can’t be moved. Gifting it is one option, but this leaves the property exposed to creditors. This...more

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