It’s one of the key decisions you have to make when you buy property with another person (e.g. your spouse) – to hold as joint tenants versus tenants in common – but many people don’t really know the difference! The decision to hold a property as joint tenants versus tenants in common can have a […]
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Transferring assets to achieve asset protection? Don’t forget about the Bankruptcy Act clawback rules!
Are you thinking about transferring assets with the aim of improving asset protection? Don’t forget about the Bankruptcy Act clawback periods which can permit the trustee in bankruptcy to unwind the transaction after it occurs, which could undermine the effectiveness of the transaction. A word of advice – don’t let the clawback periods deter you […]
Asset protection 101: the domino theory When it comes to asset protection principles, the number one thing you need to know is actually a simple well-known theory that we were all probably taught as children; don’t put all your eggs in one basket. In the asset protection space, this concept is often described as […]
Helping out the kids – loan or gift? This issue came up in a recent client meeting, and it was a great reminder about the importance of getting the structure right when dealing with financial assistance between family members, given the prevalence of parents assisting their children with purchasing a first home. A number of […]