Articles Posted in Asset Protection

By Phillip B. Rarick, Miami Asset Protection Attorney On occasion, I am invited to speak to small business groups regarding tips on how best to protect your business and investments from rogue lawsuits – or any lawsuit. Those who have heard my presentation know about the basketball that I bring to each presentation. I coached…

By Phillip B. Rarick, Miami Asset Protection Attorney If you filed your annual report for your Florida corporate entities by May 1 this reminder is not for you. Read no further. However, if you did not file by May 1, and pay the annual registration fee for your corporate entity, you should know that all…

By: Ruzy Behnejad and Phillip B. Rarick, J.D. Executive Summary In Florida, creditors have a two year statute of limitations period to file claims against the estate or trust of a decedent. However, upon opening a probate estate, a Personal Representative (“PR”) or Executor, can take action to shorten this claim window. First, the PR…

Real estate attorneys and professionals are without a doubt familiar with the FIRPTA withholding rules on U.S. property sales and rental income for foreign investors. The technical term for such investors is “non-resident alien”; this is an investor who does not hold a green card and meets other requirements. Taxes that are often over-looked before…

By: Phillip B. Rarick, Miami Asset Protection Attorney The Family Limited Partnership, (the full legal name is family limited liability limited partnership (FLLLP) is designed to accomplish asset protection, tax and non-tax goals. First, it provides protection from claims of creditors for the partnership assets. Creditors of a partner can only obtain a charging order…

By Phillip B. Rarick, Miami Asset Protection Attorney An increasingly popular off-shore asset protection jurisdiction is Nevis Island. Nevis has enacted modern, strong trust and limited liability company (LLC ) laws exceptionally difficult to penetrate by any creditor. For example, to attack an interest in a Nevis Island LLC, a Florida creditor has to go…

By: Ruzy Behnejad Executive Summary In recent years, because of an increase in estate tax exemption amounts, the legal field of estate planning has seen a significant trend towards the drafting of irrevocable Spousal Lifetime Access Trusts (“SLAT”). These trusts are designed to preserve and pass on family wealth to younger family members, while also…

By: Phillip B. Rarick, Miami Probate Attorney Note: This is a first in a series of short reports on the subject of avoiding elder abuse scams – a subject of considerable importance in south Florida. However, these reports are for persons of all ages. Example From Real Life: An attorney I know exceptionally well was…

By Phillip B. Rarick, Esq., Miami Trust Attorney Executive Summary A Domestic Asset Protection Trust or DAPT is an exceptionally strong structure for protecting family assets. However, a Hybrid DAPT, developed by Nevada attorney Steve Oshins, can add another layer of protection that will make the DAPT even more imposing and difficult to attack by…

By Phillip B. Rarick, Esq., Miami Trust Attorney A common question we receive for persons who have prepared revocable living trusts is what do I do about title or registration for my cars. Unless your car is a Maserati or you have a collection of valuable old cars, here are three rules to follow if…