By Patricia Donlevy-Rosen

Legislative Update: Cook Islands – 2003

Howard Rosen, Esq. • August 20, 2003

In 2002 the Cook Islands were removed from the OECD blacklist (See, APN, XI, No. 2), and, on May 7, 2003, the Parliament of the Cook Islands passed a suite of Acts to update its money laundering prevention laws and procedures with the expectation of also being removed from the FATF blacklist.

A Review and Critique of the 2003 Utah Trust Law Amendments

Howard Rosen, Esq. • July 17, 2003

On March 22, 2003, Utah joined the growing list of states which have enacted asset protection trust legislation. This article provides a review and critique of those provisions of the Utah legislation which pertain to asset protection. Trusts which are subject to the new legislation will be referred to herein as “Utah trusts”.

Review of Offshore Jurisdictions: Jurisdiction 6 – Cayman Islands

Howard Rosen, Esq. • April 17, 2003

With this issue we continue our periodic review of selected offshore jurisdictions. These reviews cover such factors as the legal system, the geographic location, communications facilities, availability of professional services, and other items we deem pertinent.

Special Protective Measures Required: For Retirement Plans, Real Estate, and Accounts Receivable

Howard Rosen, Esq. • November 17, 2002

How do we go about protecting real estate, accounts receivable, equipment, and similar immovable assets (in this newsletter, we’ll call these “fixed assets”)? We have to make such assets unattractive to the creditor.

Tenancy by the Entireties Protection Weakened: The Craft Case + Cook Islands / Nevis Update

Howard Rosen, Esq. • May 16, 2002

Tenancy by the entireties (“TBE”) is a form of joint ownership which is created during marriage and which can only exist between spouses. Among the traditional legal characteristics of TBE is that one spouse cannot mortgage, sell or otherwise dispose of any portion of the property without the joinder of the other spouse, as the property is deemed to be owned by the marital unit and not by either spouse individually.

Merrill Scott and the Anderson Case: There’s Good News and More Good News

Howard Rosen, Esq. • February 16, 2002

The APN has repeatedly warned our readers against so called “too good to be true” income tax reduction schemes involving offshore entities. In this issue we’ll see what recently happened in one such case.