Part Two: Using an Onshore Versus Offshore Asset Protection Trust

Part Two: Using an Onshore Versus Offshore Asset Protection Trust

In the last blog post, I mentioned that moving your assets out of the U.S. (for a U.S. citizen) to a trust under Cooks Islands law gives you enormous leverage.   So how do you get over the hurdle that most people don’t want to send their assets to a strange trust...
Risk of Using Domestic Asset Protection Trusts

Risk of Using Domestic Asset Protection Trusts

The Full Faith and Credit Clause is found at Article IV, Section 1 of the U.S. Constitution. It states: Full Faith and Credit shall be given in each State to the public Acts, Records, and judicial Proceedings of every other State. And the Congress may by general Laws...
Part One: Using an Onshore Versus Offshore Asset Protection Trust

Part One: Using an Onshore Versus Offshore Asset Protection Trust

I’ve been doing asset production planning since 2004. (What is asset protection? It is the combination of various legal strategies to help shield a client from predator creditors, nuisance lawsuits, and generally losing one’s life savings as a result of an angry...
Reconsidering What’s Important

Reconsidering What’s Important

I’m 50 years old, but I think I’m turning into a millennial. Keep reading and you’ll see what I mean. My family is in the process of downsizing from a house to an apartment that’s half the size. (This is an update from a previous blog in which I said we were going to...
Just Because I Think It’s a Good Idea Doesn’t Make It So

Just Because I Think It’s a Good Idea Doesn’t Make It So

After five years, I’ve finally come to a realization. I need to change the name of my law firm. In 2013 when I started practicing law again, I came up with the name “Magellan Law.” I liked that name for two reasons. First, I like the ocean and water and ships. Second,...