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., …

Newsweek Cover Story on Asset Protection

Jon Alper Uncategorized

In December, 2003, Newsweek Magazine ran a cover story on the lawsuit epidemic in the United States. The fear of lawsuits demonstrated in this article underlines the need for asset protection planning. The following is a quote from the introduction in this article.

Offshore trusts

Jon Alper Offshore Planning

Offshore trust planning is a highly-publicized method of asset protection. Offshore planning involves establishing legal entities in favorable foreign jurisdictions under the control of trustees who are neither United States citizens nor persons having a business presence in the United States.

Asset Protection Through LLC

Jon Alper Limited Partnerships and LLC

Florida limited liability companies (LLC) are a popular tool in business planning. Many lawyers use the LLC as an alternative to the Subchapter S corporation as the preferred legal entity for new businesses.

Does Asset Protection Work

Jon Alper Florida Asset Protection Planning

Many people question whether even the most complicated and sophisticated asset protection plan actually defeats creditor’s claims, especially where the asset protection plan is designed and implemented close to a judgment being entered or a lawsuit being filed.

Homestead Protection

Jon Alper Homestead Exemption

In Florida, our home is truly our castle, a castle that is impenetrable by creditors. The Florida Constitution exempts homestead property from levy and execution by judgment creditors. Florida courts have liberally expanded definitions of homestead property which includes more than just a single family house. Condominiums, manufactured homes, and mobile homes are also afforded homestead protection. The Constitution defines …

Pay on Death Accounts

Jon Alper Florida Exemptions

Received an interesting question from a litigation attorney today about fraudulent transfers and conversions. His client had a parent in the hospital with a short life expectancy.  The parent owns a 50% interest in a homestead property in Florida, and he has a $100,000 in a bank account designated pay on death to child. Question posed was whether parent should …

Tenants by Entireties

Jon Alper Tenants By Entireties

In March, 2001, the Florida Supreme Court decided the case of Beal Bank v. Almand where the Court adopted the presumption of tenants by entireties ownership for bank accounts owned jointly by husband and wife.