The Asset Protection Law Center

"What Are Your Lawsuit Risks?" - MDNetGuide March 2010 - The specific structure of the asset protection plan which is developed for you must involve a consideration of the details particular to your situation. The type of plan that works well..

"How the Financial Pros are Protecting Their Assets" - MDNetGuide January 2010 During the past year of financial turmoil we have seen a clear refocusing of attention on strategies to minimize financial and liability risks. In almost every area, real estate prices are down, financing is difficult or impossible and beyond merely losing a substantial investment..

"More and Better Patient Information" - MDNetGuide - A recent lawsuit against the major pharmacy chains highlights the liability risks of having too much information about a patient. Essentially, the more information you have at your desktop computer, the more you know or really should know about your patient..

Asset Protection for Hard Times" - MDNetGuide - The turmoil in the financial markets together with a steep recession is hitting most of my clients pretty hard. Some have lost more than half of their retirement savings by the plunge in both stocks and real estate values. And with business down almost everywhere many are concerned about.

Cases Give Direction to FLP Planning
Important legal issues have been raised in recent cases. Although Family Limited Partnerships may provide excellent protection, most FLP agreements should be amended or revised now to account for recent law changes concerning ownership and control. Structuring correct ownership of FLP interests is essential to protect against "charging orders" or foreclosure from a successful plaintiff.

Danger with Single Member LLC
A claimant is not limited to a charging order against an interest in a single member LLC. Although it is convenient for tax purposes- it may not provide the protection you desire. In those cases where a single member LLC is necessary for tax considerations, full protection can be maintained with "Grantor" type trusts.

Significant New Estate Taxes
The U.S. Estate Tax is scheduled to phase out until 2010 then come back in full in 2011 and thereafter. Maybe Congress will change this absurd result. Estate tax planning should be appropriate for the existing uncertainty. Don't bet everything on the wrong side.

Use Caution with FLP for Tax Savings
Your FLP can create significant estate tax reduction but new cases illustrate the need for careful planning.

New Trusts for High Quality Asset Protection
Changes in the law and advances in technique create the opportunity to achieve full protection and excellent privacy. A trust can be created with special protection for each of your assets - with minimal maintenance and maximum flexibility. This is a convenient and sophisticated technique providing equal or greater protection than many more elaborate plans.