Below you'll find a list of all posts that have been categorized as “International Asset Protection Planning”
by Vera Felber, Director, Lighthouse TrustandStephen E. Speiser, Attorney at Law, The Speiser Law Firm P.A. (Palm Beach, Florida) We are pleased to republish the following article from our colleagues at Lighthouse Trust and The Speiser Law Firm, P.A. Lighthouse Trust is the leader in asset protection trust services globally, boasting a groundbreaking court victory for U.S. persons engaged in …
Within the past several days, the Wyoming legislature has implemented important legislation designed to uphold the integrity of Wyoming as a leading jurisdiction for estate, business, and asset protection planning. Wyoming House Bill 22 requires registered agents to maintain a list of designated communications contacts for the entities they represent. The designated communications contact needs to be a natural person who …
Back in 2014, members of our firm reported on a significant legal victory for a trust settlor who had shifted his substantial net worth into a foreign asset protection trust in order to stave off guarantor liability on a commercial loan with Branch Banking & Trust Company (BB&T). As one of the most recent cases to touch on the “impossibility …
Editor’s Note: References herein are to the Uniform Voidable Transactions Act (final version) (“UVTA”) promulgated by the Uniform Law Committee, which is based on the predecessor Uniform Fraudulent Transfer Act (“UFTA”). Section 4 of the UVTA, based on its corresponding predecessor Section 4 of the UFTA, is the most frequently-cited rule for defining voidable transactions (aka, fraudulent transfers). Paragraph (a) …
A recent case in Alabama is bringing to light a difficult choice of law issue affecting the use of LLCs throughout the United States. The critical question raised is: Which state’s law determines the remedies a creditor has against a member’s interest in an out-of-state LLC? The assumption most lawyers make is that the law of the jurisdiction in which the LLC was formed should govern the …
Several months ago, news broke that a significant EB-5 investor project to develop a ski resort in Vermont had been revealed as a hopelessly insolvent Ponzi scheme. Worse, many international investors – who had participated in the EB-5 program in order to obtain U.S. citizenship – learned for the first time that not only was their investment gone, but they would be …
The volume of litigation in the United States is on an endlessly upward trajectory. Yet, most Americans are unaffected by this statistic: Either they have no savings to lose, or they are so wealthy as to be able to withstand the impact of a large lawsuit. Caught in the middle are those who have accumulated significant wealth, but …
On May 16, 2016, the United States Supreme Court issued a slip opinion in the case of Husky International Electronics, Inc. v. Ritz, 578 U.S. __, Case No. 15-145 (2016). Sifting through the history of fraudulent transfer law, the Supreme Court concluded that the term “actual fraud” – for purposes of denying a discharge in bankruptcy – includes “fraudulent conveyance schemes,” …
The Seventh Circuit recently issued a ruling in a bankruptcy proceeding that has important implications for asset protection planners. In In re: Great Lakes Quick Lube LP, No. 15-2093 (7th Cir. March 11, 2016), the Seventh Circuit concluded that a lease termination in anticipation of a tenant’s bankruptcy constituted a fraudulent transfer, entitling the creditors in bankruptcy to reach the unamortized …
On March 22, 2016, the United States Court of Appeals for the Seventh Circuit issued its ruling in the case of Continental Casualty Company v. Alan Symons et al., Nos. 14-2665, 14-2671 & 15-1061 (7th Cir. 2016). The case is particularly novel for its use of the alter ego doctrine to pierce the veil of limited liability, holding shareholders and officers …
