Husband’s Homestead Plan Jeopardizes Wife’s Assets

Jon Alper Fraudulent Transfers

A client was contemplating what seemed to be a safe asset transfer that could have inadvertently subjected his wife to personal liability. The client had sold a company for substantial amounts of cash and then put half of the proceeds in a jointly owned investment account. The wife had substantial assets in her own name. Subsequently, the husband was sued. …

Who Is A Creditor?

Jon Alper Fraudulent Transfers

There is a common misconception that a party has to either have filed a lawsuit against you or has a judgment against you to be considered your creditor for purposes of fraudulent conveyance law. Transfers or conversions of assets to evade creditors can be reversed or the transferee sued for the value of the conveyance.

Supreme Ct: no liability for fraudulent transfer

Jon Alper Fraudulent Transfers

In May, 2003, The Eleventh Circuit Court of Appeals certified to the Florida Supreme Court the question of whether under Florida’s Uniform Fraudulent Transfer Act or FUFTA there is a cause of action for aiding and abetting a fraudulent transfer when the alleged aider-abettor is not a transferee. The Supreme Court’s unanimous answer in Lewis B. Freemen, etc., et al., …

Liability for Fraudulent Transfer

Jon Alper Fraudulent Transfers

Some creditors have tried to sue debtor’s attorneys and financial advisors for assisting the debtor in making fraudulent transfers. Creditors have tried to sue the debtors’ third party advisers for conspiracy to make fraudulent transfers or for aiding and abetting a fraudulent transfer.