Below you'll find a list of all posts that have been categorized as “Creditor Remedies”
Stephen Speiser, Esq September 2024 When it comes to protecting assets from potential creditors, lawsuits, or other financial threats, establishing an offshore trust in a jurisdiction with strong asset protection laws can be a strategic move. Among the most popular jurisdictions for foreign asset protection trusts are the Cook Islands, Nevis, and Belize, and to a somewhat lesser degree the …
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 …
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 …
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 …
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 …
From time to time, we are asked about using foundations as a substitute for asset protection trusts. In our judgment, there is no substitute for a competent, well crafted trust. This does not mean, however, that foundations should not be used in asset protection planning. For clients with charitable goals and objectives, foundations provide an excellent vehicle to satisfy those …
The location of particular assets affects the law governing those assets and your ability to protect those assets from unanticipated creditors
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.
The Court of Appeal of the Eastern Caribbean Supreme Court has recently issued a ruling expanding the power of the courts in the British Virgin Islands to issue injunctions in support of foreign proceedings, including injunctions directed at third parties who are not subject to any substantive claims (known as “Chabra” orders). Notably, this relief may be granted even if …
Charging Orders are an important legal issue that must be navigated by the client and their attorney in order to create a successful asset protection plan. Technically, a charging order is a creditor remedy. It is a court order that allows a creditor to intercept any distributions of income or profits that are paid out by an LLC or a Limited Partnership to a member …
