By Sam Phillips

“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 […]

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.

Madoff Claw-back Case Reveals Flawed Asset Protection

Howard Rosen, Esq. • August 8, 2013

Attorneys of Donlevy-Rosen & Rosen analyze how a former Madoff client lost everything to a shaky asset protection plan

BNA Publishes Partners’ Article on Ohio Asset Protection Law

Howard Rosen, Esq. • July 11, 2013

This month’s publication of BNA Tax Management’s Estates, Gifts and Trusts Journal includes a new article by Howard Rosen, Esq. and Patricia Donlevy-Rosen, Esq. titled “A Review and Critique of the Asset Protection Aspects of The 2013 Ohio Legacy Trust Act.”

6 Lessons from Report on Foreign Trust Abuse

Howard Rosen, Esq. • April 9, 2013

A recent ICIJ report details the abuse of offshore trusts and accounts for tax evasion and money laundering. The report serves as a reminder that there are significant risks associated with improper planning and dealing with inexperienced planners. We have identified six lessons that the report provides on dealing with offshore trusts and accounts.

Ohio Asset Protection: Loopholes and Limitations

Howard Rosen, Esq. • February 27, 2013

The Ohio Legacy Trust Act goes into effect on March 27, 2013. The act purports to be a domestic asset protection trust solution. The reality is that Ohio is merely the latest state to enact law that protects assets from creditors “sometimes.”