Authors

Married Couples Face Major Setback in Shielding Assets from Creditors

Howard Rosen, Esq. • December 13, 1996

Juan E. Planas, a recent Florida bankruptcy case, changed the rules of the game for married individuals hoping to save their assets if one spouse declared bankruptcy. Before that case was decided, if you owned properties with your mate in what is termed “tenants by the entirety”, you could be reasonably comfortable that those properties would be safe from your spouse’s creditors if he or she ever declared bankruptcy.

New Cook Islands Legislation: Fine Tuning the Law

Howard Rosen, Esq. • November 15, 1996

The new law abolishes the common law “rule against perpetuities”. This means that a “dynasty” trust can now be established in the Cook Islands. Thus, you can establish a trust in the Cook Islands which will continue indefinitely.

Offshore Trusts Can Create Legal Obstacle Course for Claimants

Howard Rosen, Esq. • October 17, 1996

Consider the thought processes of your claimant’s attorney contemplating an action to recover assets from a trust in a foreign country. He knows nothing of the country’s geography, laws, procedures, costs, or even its currency. These factors become immediate hurdles in a legal obstacle course upon which he is about to embark.

Tenancy by the Entireties: Protection No More!

Howard Rosen, Esq. • September 1, 1996

This issue was scheduled to be a review of Barbados. However, a decision in a recent case which may put at risk certain “do-it-yourself” protection techniques was handed down, and is discussed in this issue.

Review of Offshore Jurisdictions (Part 2)

Howard Rosen, Esq. • July 1, 1996

With this issue we continue our review of selected offshore jurisdictions. As indicated by the above subtitle, in this issue we will review Anguilla.

The How’s and Why’s of Offshore Trusts in Asset Protection Planning

Howard Rosen, Esq. • May 17, 1996

This article will focus on just what the title indicates: how and why offshore trusts are used in asset protection planning. The article will review certain aspects of domestic law which limit the ability of a domestic trust to provide meaningful asset protection, and will compare those laws with the laws of certain offshore jurisdictions which address the same issues in a different way, with vastly different results. In addition, the article will highlight selected trust clauses which can enhance the protection afforded by careful selection of a situs jurisdiction.