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CONTEMPT OF COURT – PART 2: Self-Created Impossibility Defense

Howard Rosen, Esq. • May 27, 2014

This newsletter discusses contempt of court, and a new case that reaffirms the right to establish offshore trusts without fear of incarceration.

FRACKING: The Coming Litigation Storm…

Howard Rosen, Esq. • March 10, 2014

Volume XXII • Number 1 • March/April 2014 INTRODUCTION. Fracking (hydraulic fracturing) is a drilling process that was first commercially used in 1949, and one whose use has exploded in recent years. Fracking involves forcing fluid at high pressure into a geologic formation containing oil or gas. The fluid fractures the formation, allowing oil and […]

“Domestic Asset Protection Trusts Can Fail” says Estate Planning Expert

Howard Rosen, Esq. • January 27, 2014

A battle is raging between US-based attorneys over the use of Domestic Asset Protection Trusts (DAPTs) or their offshore counterparts (Foreign Asset Protection Trusts or FAPTs). Fifteen states (and counting) have enacted some form of asset protection trust legislation, but the efficacy of these DAPTs has been called into question since inception. At the 48th […]

Discussing asset protection with your clients: a guide for attorneys, CPAs, and financial planners

Howard Rosen, Esq. • October 2, 2013

According to the Wall Street Journal (July 15 – 16, 2006), asset protection planning has become “mainstream” planning. And just as planning professionals are obligated to advise clients on estate planning and financial planning matters, many feel that the same professionals are now ethically obligated to advise clients on asset protection matters. To determine if […]

E-Filing Requirement for FBAR

Howard Rosen, Esq. • August 10, 2013

Effective July 1, 2013, those required to file FBARs (Report of Foreign Bank and Financial Accounts) must do so online through an e-filing portal on the Department of the Treasury’s website.

Spousal Transfers: We Told You So

Howard Rosen, Esq. • August 8, 2013

We are often asked by potential clients, “Can’t I just transfer my assets to my spouse to protect them?” We have always recommended against that “strategy” for a number of reasons, not the least of which, we tell our clients: “What if she/he decides to divorce you? You could lose it all forever.” Another significant reason is that the transfer could be easily “undone” by a court if a fraudulent transfer is found to have occurred. Thus, no asset protection.