Tenancy In Common: How Not To Own Property
Copyright © 2018 by Robert M. Kramer
Here is a typical estate scenario. Father and Mother own their $1,000,000 homestead jointly with right of survivorship. They have three children- Sam, Stan, and Dora, all in their 50s. Father dies and the Mother becomes the owner. Mother dies a few years later intestate.
Posted June 11, 2015 in , Asset Protection
NEW CASE MAY ADVERSELY AFFECT ASSET PROTECTION PLANS
Copyright © Robert M. Kramer, 2015
Asset protection attorneys are concerned about a new Florida case which increases the Statute of Limitation on certain asset protection-motivated transfers from 4 years to 20 years.
Posted November 4, 2014 in , Asset Protection
OWNING A VESSEL INDIVIDUALLY- NOT SUCH A GOOD IDEA
Recently, one of our physician clients asked our advice as to proper ownership of a vessel that she was purchasing.
We explained that there were two aspects to this. First, we need to be concerned about the possible loss of the equity in the vessel to a creditor, should she be sued for medical malpractice or for any other reason. Second, unlike a safe asset- such as stocks and bonds- a vessel is a potential source of liability, should someone be injured.