Below you'll find a list of all posts that have been categorized as “Asset Protection”
Stephen Speiser, Esq. September 2024 In the realm of wealth management and asset protection, trusts play a pivotal role in safeguarding assets against potential creditors, legal judgments, and other financial risks. Two prominent types of trusts utilized for these purposes are Foreign Asset Protection Trusts (FAPTs) and Domestic Asset Protection Trusts (DAPTs). Each type offers unique features, legal protections, and …
Stephen Speiser, Esq September 2024 When it comes to protecting assets from potential creditors, lawsuits, or other financial threats, establishing an offshore trust in a jurisdiction with strong asset protection laws can be a strategic move. Among the most popular jurisdictions for foreign asset protection trusts are the Cook Islands, Nevis, and Belize, and to a somewhat lesser degree the …
Stephen Speiser September 2024 Foreign Asset Protection Trusts (FAPTs) are a powerful tool for safeguarding assets from potential creditors and legal disputes. However, when it comes to divorce, the effectiveness of these trusts can be put to the test. Divorce proceedings often involve complex asset division and can lead to intense scrutiny of any trusts established by either spouse. In …
By Stephen Speiser, Esq. Sept 2024 In today’s increasingly litigious society, protecting one’s assets from potential creditors and legal claims has become a priority for many individuals. One effective strategy for safeguarding wealth is the use of Foreign Asset Protection Trusts (FAPTs). Here is an overview of what FAPTs are, their purpose, and how they differ from domestic trusts. What …
By Stephen Speiser, Esq. June 2024 The vehicle of choice for many high-net-worth families engaged in offshore asset protection planning is the international asset protection trust (“IAPT”). The principal reason IAPTs are popular is because the trust can lawfully hold assets outside the jurisdiction of the United States where they are beyond the reach of U.S. creditors. In addition, IAPTs …
By Stephen Speiser, Esq. May 2024 In 2009, the Nevis Island Assembly enacted the Nevis Limited Liability Company Ordinance, which opened the door to the convenient formation of offshore business entities in a tax-friendly and asset-protective Caribbean jurisdiction. A major rewrite of the legislation in 2017 did not make any substantive changes, disappointing many who advocated for the adoption of …
By Stephen Speiser, Esq. May 2024 CPAs are called upon to advise clients on a wide range of financial planning matters, and their good counsel is often essential to the success of their clients’ business and estate planning objectives. One area that most CPAs tend to avoid, however, is asset protection. This is unfortunate, because CPAs are trusted advisors with …
385 Banks Projected to Fail / 1,000’s of Loans Projected to Default / Guarantors Wiped Out By Stephen Speiser, Esq. May 2024 The Coming Storm Approximately $1 trillion of commercial real estate debt is coming due this year, and that number will increase dramatically in 2025. The Mortgage Bankers Association confirms that real growth in CRE debt together with major …
By Stephen Speiser, Esq. May 2024 There is, perhaps, nothing more destructive of personal wealth than a personal guarantee. Of all the parties to a commercial loan transaction, guarantors are the ones who are the most “at risk” following a default. The reasons are several: Simply put, guarantors have few, if any, defenses to a contractual liability that can completely …
By Stephen Speiser, Esq. We need to have a serious conversation about domestic asset protection trusts (DAPTs). By our last count, 20 states now have DAPT laws: Alabama, Alaska, Connecticut, Delaware, Hawaii, Indiana, Michigan, Mississippi, Missouri, Nevada, New Hampshire, Ohio, Oklahoma, Rhode Island, South Dakota, Tennessee, Utah, Virginia, West Virginia, and Wyoming. Yet, the rush to implement DAPT legislation – motivated by state bar …
