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,...
Who Can You Trust with Your Trust?

Who Can You Trust with Your Trust?

The issue of trust is a biggie for me. I suspect it is for most people. That’s especially the case when it comes to your money, and who will be in charge if you get dementia or if you pass away. (Don’t know what a “trust” is? You can read a short description here.)...