Fraudulent Transfers

A debtor expects to inherit a significant amount of assets from a parent while he is already subject to a civil judgment. The debtor is concerned that the inherited assets will be exposed to his judgment creditor. The debtor is considering executing a formal “disclaimer” of the inheritance so the assets will not be titled …

Can Creditor Challenge Disclaimer of Inheritance As A Fraudulent Transfer?Read More

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 …

Court Finds Fraudulent Conveyance in Spouses’ Property Exchange To EntiretiesRead More

I received a call from someone who said they had money and stocks in a financial account titled in the name of a revocable living trust created by the caller as part of her estate planning. The caller and her spouse were named as the trust beneficiaries. The caller expected to be sued by a …

Amendment of Trust May Be A Fraudulent ConveyanceRead More

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 …

Present Value Defense To Fraudulent Transfer AllegationsRead More

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 …

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

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 …

Change Financial Firms To Cure Defective Tenants by Entireties RegistrationRead More

A business owner wants to protect the business’s assets, mostly cash, from a creditor that is suing the business. He wants to transfer the business’s cash to himself, the owner, but is concerned that the transfer may look like a fraudulent conveyance from the business to himself. So, he has the business loan him the …

Unreasonably Liberal Loan To Owner May Be A Fraudulent TransferRead More

An attorney called with a question about whether placing a mortgage on a homestead property could be a fraudulent transfer when the owner rented part of the property to a third party tenant. The mortgage was made to the owner’s own attorney ostensible to secure legal fee obligation. The homeowner owned a large property in …

Mortgage Placed On Homestead Used Partially As Rental: Fraudulent Transfer IssuesRead More

Creditor actions for fraudulent transfers must be brought within four years of the transfer pursuant to Florida Statute 726.110. There is a “savings clause” that gives creditors no less than one year to file an action after they discover the transfer regardless of whether the transfer occurred more than four years ago. There is a …

Statute of Limitations After Discovery of A Fraudulent TransferRead More