Adkisson, Charging Order Protection Backfires At Judicial Sale In Preservation Holdings

Adkisson's article describes a Maine court decision "in favor of Preservation Holdings, LLC and against Pamela Gleichman and others. The Maine court entered charging orders against Gleichman's interests in some 51 different limited liability companies (LLCs) and limited partnerships (LPs)." He pinpoints one of the main takeaways from the recent judgement to be the fact … Continue reading Adkisson, Charging Order Protection Backfires At Judicial Sale In Preservation Holdings

Adkisson, Fraudulent Transfers And The Statute of 13 Elizabeth Translated To Contemporary Legal English

Adkisson describes how "modern Anglo-American voidable transactions law traces its roots in some considerable part to the English Fraudulent Conveyances Act of 1571, better known as the Statute of 13 Elizabeth, Chapter 5." However, he notes that most legal commentators have not actually read the Act, partly due to the fact that "finding a translation of the … Continue reading Adkisson, Fraudulent Transfers And The Statute of 13 Elizabeth Translated To Contemporary Legal English

Adkisson, Cortez Rule For California Uniform Voidable Transactions Act Reaffirmed In Potter

Adkisson describes the impact of a recent court case in reaffirming a provision of the California Uniform Voidable Transactions Act (CUVTA). Adkisson outlines the Statute of Extinguishment in the CUVTA Civil Code, explaining that "a Statute of Extinguishment is very much like a Statute of Limitations, but with one key difference: A Statute of Extinguishment … Continue reading Adkisson, Cortez Rule For California Uniform Voidable Transactions Act Reaffirmed In Potter

Supreme Court Petition Filed: BF Hawk v. Commissioner (18-1534) – Fraudulent Conveyance Law and Transferee Tax Liability Decedents Estate

In B.F. Hawk v. Commissioner, the Sixth Circuit held that a decedent’s estate, his widow and two marital trusts were liable as transferees for income taxes owed by the decedent’s business. The Sixth Circuit held that under the Tennessee Uniform Fraudulent Transfer Act, an asset sale followed by the stock sale was a sham transaction … Continue reading Supreme Court Petition Filed: BF Hawk v. Commissioner (18-1534) – Fraudulent Conveyance Law and Transferee Tax Liability Decedents Estate

Bove & Langa, Challenging the Judge: The Massachusetts Appeals Court Continues to Make Its Own Rules of Trust Law

Alexander A. Bove, Jr. and Melissa Langa have made available their article for download their article, "Challenging the Judge: The Massachusetts Appeals Court Continues to Make Its Own Rules of Trust Law," published in the Steve Leimberg Asset Protection Newsletter. The Introduction is as follows: When we as advisors set out to develop an estate … Continue reading Bove & Langa, Challenging the Judge: The Massachusetts Appeals Court Continues to Make Its Own Rules of Trust Law

Adkisson, Annuity Payments Protected From Creditors In Rensin

Adkisson describes the case of Maryland resident Joseph K. Rensin and his established "Joren Trust," which "illustrates the advantages of planning in a state such as Florida that exempts annuity payments either wholly or in substantial part from enforcement of a judgment, which can then provide the debtor with some means to live on while … Continue reading Adkisson, Annuity Payments Protected From Creditors In Rensin

John S. Eory, Appellate Court Permits Invasion of Retirement Accounts to Enforce Child Support Orders

On May 7th, the Appellate Division of the New Jersey Superior Court issued a decision regarding the case of Orlowsky v. Orlowsky. The Court ruled that federally-protected retirement plans can be invaded in order to pay child support, college tuition, and attorney and expert fees. For the full case opinion, click here. Download the full … Continue reading John S. Eory, Appellate Court Permits Invasion of Retirement Accounts to Enforce Child Support Orders