Tag: asset protection

Group Trusts – Special Planning Technique Examined

Howard Rosen, Esq. • May 1, 2007

A group trust is a trust settled (created) by four or more individuals (for this purpose, a married couple counts as one individual). This technique was developed by Donlevy-Rosen & Rosen, P.A. in 2004 in response to a common problem faced by clients: often a client expressed concern not only about his/her own financial well-being, but also about others participating with the client in a business venture or other common pursuit.

Entity Trusts: Special Planning Technique Examined

Howard Rosen, Esq. • November 1, 2006

An entity trust is a trust settled (created) by an entity, such as a corporation, limited liability company, trust, or partnership. An entity trust might also be settled by an appropriate group of entities, such as a related or commonly owned group of corporations, limited liability companies, trusts, or partnerships.

Homestead Exemptions

Howard Rosen, Esq. • May 1, 2006

On April 20, 2005, the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 was enacted into law. The stated purpose of the Act is to “improve bankruptcy law and practice by restoring personal responsibility and integrity in the bankruptcy system and ensure that the system is fair for both debtors and creditors.”

IRA Exemptions: Supreme Court Settled the Matter?

Howard Rosen, Esq. • April 1, 2005

On April 4, 2005, the United States Supreme Court handed down its decision in Rousey v. Jacoway, a case addressing the issue of exempting individual retirement accounts (IRAs) from federal bankruptcy proceedings. The decision was widely hailed in the financial press, with such headlines as “High Court Rules IRAs Untouchable – Unanimous Decision Means Retirement Savings Are Protected From Creditors”.

In Asset Protection Legislation, Alaska Takes a Leap Ahead of Other States, But It’s Still a State

Howard Rosen, Esq. • March 17, 2004

On July 10, 2003, Alaska amended its 1997 Alaska Trust Act (the “2003 Bill”) in an effort to stay in the forefront of the growing list of states seeking to generate trust business by providing settlors with creditor protection and estate freeze legislation. This type of legislation attempts to rival that offered by certain offshore jurisdictions. The 2003 Bill makes Alaska more attractive as an domestic asset protection situs. As a state in the United States, however, Alaska falls short of providing the ultimate protection offered by certain offshore jurisdictions – lack of U.S. court power to upset asset protection planning.

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.