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Banking Solutions Linhart Seuss Ivsan LLP is pleased to announce its turnkey banking solutions for clients looking to start or acquire a licensed financial institution. Our complete service package includes all the essential elements for transacting in global banking markets: Our financial institution development initiative offers our clients an affordable, efficient method of entry into the European banking system. With …
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 …
A few days ago, the United States Tax Court handed down its long-awaited decision in Avrahami v. Commissioner, 149 T.C. No. 7 (August 21, 2017). The 105-page opinion is not the slam-dunk for the IRS that most commentators anticipated, nor does the Tax Court give the taxpayer anything such as a free pass. Rather, Avrahami reflects a considerable evaluation of the facts …
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 …
On June 8, 2016, the Cayman Islands published a new Limited Liability Companies Law. With this enactment, the Cayman Islands is yet another offshore jurisdiction to offer state-styled LLCs for business planning. Promoters have described the Cayman Islands LLC law as “closely aligned” with Delaware’s popular LLC act. However, careful analysis shows that there is nothing “closely aligned” between the Cayman Islands …
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 …
