Tag Archives: Tampa Asset Protection Attorneys
Gift Tax Exemption Can Be a Great Asset and Tax Protection Vehicle
Do you have money or property that you don’t want to be taxed on? Maybe taxes aren’t the issue, you just genuinely want to do something nice for a friend or family member. How about using a good old fashioned gift? After all, giving away your property saves you from paying income taxes on… Read More »
What OJ Simpson Can Teach Us About Asset Protection
OJ Simpson was granted parole recently, and will be leaving prison in October. But while he will be free for the sake of having his rights restored and the ability to come and go, there’s one thing that the parole board can’t free him from: the obligation to pay back the multimillion dollar verdicts… Read More »
Can a Domestic Trust in Another State Protect Your Assets?
In the movies and in the news we see millionaires hiding their money in offshore accounts, in foreign countries under strange names, or in accounts with only numbers on them. The underlying strategy is to take advantage of laws of a different country to obtain greater asset protection benefits than what could be obtained… Read More »
Should Your Business Know About the FCPA
In the movies, it’s common to see businesses greasing the palms of government officials in secret deals in order to gain favor. Certainly, your business would never do that, and likely wouldn’t be in the position to do that, as it’s unlikely any government official would offer favors in return for cash or other… Read More »
Businesses Should Give Thought to Succession Planning
Many people take time and effort to plan for what will happen to their family and their assets when they are gone. But you would be surprised to learn how many people fail to make arrangements for a certain class of people who also should be accounted for when making these kinds of plans:… Read More »
Property Owned by Married Couples Still Has Strong Protections
The tenants by the entireties (TBE) protection is one of the strongest that the law provides, and one of the clearest and easiest asset protection devices available. TBE is an exemption that protects assets that are owned jointly by a married couple from being taken by creditors. A recent case has not strengthened the… Read More »
Don’t Make These Asset Protection Mistakes
Asset protection is not only a viable and recognized legal strategy to protect assets from creditors, but it’s also a very smart thing to do. Even if you aren’t a millionaire, you still may have assets that creditors could reach if a judgment were ever entered against you. That said, there’s good asset protection… Read More »
Muhammad Ali Estate Could Become Contested
As another world famous and world changing superstar passes away, this time Muhammad Ali, yet again come the reports surfacing of estate disputes, what the deceased intended, relatives coming seemingly out of nowhere to make claims, and reminders of how important it is to have an estate plan in place—even if you don’t have… Read More »
Florida’s Homestead Protections Affirmed in Recent Case
By now it should be clear that in Florida, a homestead is protected by creditors. But what happens when money from the sale of a homestead is placed in a bank account? The issue of whether these funds get the same protection as the homestead itself was the subject of a recent court decision…. Read More »
A Legal Lesson for Businesses is Hidden in Tom Brady Case
An appellate court has upheld the suspension of New England Patriots quarterback Tom Brady. You may be wondering why this matters to you, unless you’re also an NFL quarterback. But hidden in this entire case is an important lesson to business owners. The Brady Case You may recall Brady was suspended by the NFL… Read More »
