In December of 2009, the Florida Court of Appeals concluded in Robertson v. Deeb, 16 So. 3d 936 (Fla. 2d DCA 2009), that the beneficial interest that a person owns in an inherited IRA may be subject to garnishment. In other words, an IRA that you inherit may be taken by your creditors. This is […]
Occasionally, people who are interested in asset protection ask me what is more appropriate, a trust or some sort of FLC or FLP. Here is my response: An Asset Protection Trust An asset protection trust is more secure than an FLC, but it is also more costly to maintain (high annual fees for an independent […]
There are many different types of irrevocable trusts. The most popular irrevocable trusts include: life insurance trusts; asset protection trusts; charitable trusts; trusts created upon death (such as QTIP trusts and bypass trusts); and special needs trusts. Generally, an irrevocable trust is designed to prevent its terms from being modified in the future. As a […]