Asset Protection

They say a man's home is his castle and, apparently, in Florida they mean it (without the drawbridges, alligators and moats). Those features are unnecessary given Florida's near judgement-proof laws against seizing home and property. more »

Estate planning is an important concern for many people. Because doing it right means navigating complex IRS rules, most find it very beneficial to hire a professional estate planner or attorney when creating an irrevocable trust. Though an irrevocable trust is more complicated and more expensive to create than a revocable trust, it... more »

An irrevocable trust is one that cannot be revoked or amended by the person who creates the trust, or the grantor. These trusts are taxed as separate entities and at a fairly high rate, so it's common for them to disburse all or most income to the beneficiaries annually. For tax purposes, the IRS might consider some irrevocable trusts... more »

History has been saturated with financial scandals such as the Enron collapse in 2001. AOL, Tyco, and Qwest have also been involved in financial scandals over the years. Questionable accounting practices are almost always the problem. The field of forensic accounting has become part of the front line of defense in assuring that... more »

Individuals and families often seek out asset protection to reduce their expenses from taxes, aggressive debtors, lawsuit damage-seekers, divorce and more. In some cases, the attempts at asset protection can actually have the reverse effect, as concealing assets from creditors and criminal investigators is in many cases considered a... more »