Court Finds Fraudulent Conveyance in Spouses’ Property Exchange To Entireties

Jon Alper Fraudulent Transfers

When a husband and wife own separate individual assets and one of the spouses is a defendant in litigation a common asset protection planning strategy is to title all the respectively owned separate assets in to tenants by entireties. Tenants by entireties (TE) assets are exempt from claims against either of the individual spouses. This asset protection technique would enable …

Present Value Defense To Fraudulent Transfer Allegations

Jon Alper Fraudulent Transfers

A profitable business corporation faced imminent civil judgment. The principal owner of the company owned additional corporations engaged in a related business. The owner hired an attorney to represent the primary business and the related business. The owner hired the attorney to do legal work for the other, related business that were not involved in civil litigation. The owner paid …

Fraudulent Transfer Statute Of Limitations Extended In Bankruptcy If Debtor Has IRS Debt

Jon Alper Fraudulent Transfers

A recent decision  by Bankruptcy Judge Robert A. Mark of the US Bankruptcy Court for the Southern District of Florida has created a potential nightmare and morass for those who seek to use asset protection vehicles as part of an overall estate plan or independently, and, at the same time, has created a new opportunity for creditors seeking to recover …

Change Financial Firms To Cure Defective Tenants by Entireties Registration

Jon Alper Fraudulent Transfers

One this week’s clients made a mistake when he opened a financial account. On the account application he checked the ownership title box labeled “jtwros” ( joint tenants with rights of survivorship) when two below there was another box labeled “tenants by the entireties”. Florida law presumes a jtwros account is a T by E account and that the property …

Conveyances By Non-Debtor Co-Owner May Be Fraudulent Transfers

Jon Alper Fraudulent Transfers

Consider a debtor who jointly owns a non-exempt asset with a non-debtor. The non-debtor is not his spouse so there is no tenants by entireties exemption. The non-debtor owner is able to transfer the asset without the debtor’s signature. The debtor suggest that he would not be making a fraudulent transfer if the non-debtor co-owner transferred title to 100% of …