Tag: business

A Court Win for Asset Protection Planning

July 26th, 2011   •   Comments Off on A Court Win for Asset Protection Planning   

In recent years, asset protection planning has become as prevalent and as important as basic estate planning. Retirement funds are a category of assets exempt from execution by creditors, both under Tennessee law (TCA §26-2-105), and under the United States Bankruptcy Code (USC §522(d)(12)). In a recent U. S. District Court case in Texas, the U. S. District Court upheld that exemption. The facts in the case were that Shirley established an IRA account and named her daughter, Janice, as beneficiary. In 2007, Shirley died. Janice was allowed to make a trustee-to-trustee transfer of the inherited amount to another IRA, because the ownership of the new IRA was set up in the same way as the ownership of the old IRA, that being in the name of the decedent (Shirley) for the benefit of the IRA beneficiary (Janice). In 2008, Janice established an IRA account titled “Janice, Beneficiary – Shirley, Decedent,” to receive the funds of her mother’s IRA.

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West Tennessee Business Law Alert – Fall 2008 Issue

December 30th, 2008   •   Comments Off on West Tennessee Business Law Alert – Fall 2008 Issue   
HOW TO PROTECT YOURSELF FROM IDENTITY THEFT

Think that identity theft will never happen to you? Consider the following information.

 

 

View Business Law Alert Fall 2008.

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