Advice CPAs Should Give Clients on Asset Protection – Part I

By Stephen Speiser, Esq. May 2024 CPAs are called upon to advise clients on a wide range of financial planning matters, and their good counsel is often essential to the success of their clients’ business and estate planning objectives. One area that most CPAs tend to avoid, however, is asset protection. This is unfortunate, because CPAs are trusted advisors with …

The Commercial Real Estate Meltdown is Coming – Prepare Your Clients

385 Banks Projected to Fail / 1,000’s of Loans Projected to Default / Guarantors Wiped Out By Stephen Speiser, Esq. May 2024 The Coming Storm Approximately $1 trillion of commercial real estate debt is coming due this year, and that number will increase dramatically in 2025. The Mortgage Bankers Association confirms that real growth in CRE debt together with major …

Asset Protecting Against Loan Guarantees

By Stephen Speiser, Esq. May 2024 There is, perhaps, nothing more destructive of personal wealth than a personal guarantee.  Of all the parties to a commercial loan transaction, guarantors are the ones who are the most “at risk” following a default.  The reasons are several: Simply put, guarantors have few, if any, defenses to a contractual liability that can completely …

The Folly of Domestic Asset Protection Trusts (DAPTs)

By Stephen Speiser, Esq. We need to have a serious conversation about domestic asset protection trusts (DAPTs). By our last count, 20 states now have DAPT laws: Alabama, Alaska, Connecticut, Delaware, Hawaii, Indiana, Michigan, Mississippi, Missouri, Nevada, New Hampshire, Ohio, Oklahoma, Rhode Island, South Dakota, Tennessee, Utah, Virginia, West Virginia, and Wyoming. Yet, the rush to implement DAPT legislation – motivated by state bar …

Corporate Transparency Act Held Unconstitutional

By Stephen Speiser, Esq. In Nat’l Small Bus. United v. Yellen, 2024 U.S. Dist. LEXIS 36205 (March 1, 2024) the U.S. District Court for the Northern District of Alabama ruled that the CTA is unconstitutional in a lawsuit brought by the National Small Business Association (NSBA) and one of its members, Isaac Winkles. The court found that the CTA exceeds …

The Alec Baldwin Saga: A Case Study

Can Asset Protection Save His Fortune from Manslaughter Charges? By: Stephen Speiser, Esq. February 1, 2024 The once bright future of Alec Baldwin is now in serious peril.  On Friday, January 19, 2024, a New Mexico grand jury indicted the Emmy-award winning actor and director on involuntary manslaughter charges stemming from the October 2021 fatal shooting on the film set …

Florida’s Homestead Law

by Stephen Speiser, Esq.The Speiser Law Firm P.A. Florida’s homestead exemption is one of the most powerful asset protection laws available anywhere in the United States.  Moreover, it is not just statutory law:  It is written into the Constitution of the State of Florida.  That makes Florida’s homestead law a constitutional right.   Article 10, Section 4 of the Florida Constitution provides that an unsecured creditor …

The Mireva Invasion

Are Mireva Rulings Coming to the United States? Readers of our website know that we have written extensively about the Mareva ruling, a form of ex parte preliminary injunction increasingly granted by courts outside the USA to freeze debtor assets. A 2021 Florida state court decision has created a great deal of unease among debtors’ representatives concerning the reach of …

When In Rome… How the Location of Assets Affects Asset Protection Planning

The location of particular assets affects the law governing those assets and your ability to protect those assets from unanticipated creditors

Is All Asset Protection Planning Bad Under the UVTA?

A state’s enactment of a DAPT law should be regarded as the state legislature’s expression per se “actual intent” under the UVTA not be imputed in any form of asset protection planning.  While this is an incredibly broad inference, it reflects the reality that DAPTs do not exist in a vacuum.