The formation of the family limited partnership: fraudulent transfer liability and other family problems
Article Abstract:
Laws governing the usage of and protection provided by family limited partnerships should balance creditors' rights and the legitimate interest of families in preserving the wealth that they have created. Efforts to use family limited partnerships as asset protection vehicles have been criticized based on the claim that partnerships must be formed for a specific business purpose. Asset protection is a legitimate purpose, and family limited partnerships should be allowed as long as fraudulent transfers are avoided and partnership creditors retain their rights.
Publication Name: Commercial Law Journal
Subject: Law
ISSN: 0010-3055
Year: 1996
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Future creditors and fraudulent transfers: when a claimant doesn't have a claim, when a transfer isn't a transfer, when fraud doesn't stay fradulent, and other important limits to fraudulent transfers law for the asset protection planner
Article Abstract:
Asset protection planning in some forms can coexist with the Uniform Fraudulent Transfers Act (UFTA). Lawyers specializing in protecting clients' assets from future attack by creditors can legitimately continue such planning where facts do not fall under UFTA 'claims' or 'creditors' language. UFTA is also limited by its allowance of planning for reasonably foreseeable creditor claims and time passage defenses.
Publication Name: Delaware Journal of Corporate Law
Subject: Law
ISSN: 0364-9490
Year: 1997
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Gutting the rule against self-settled trusts: how the new Delaware trust law competes with offshore trusts
Article Abstract:
The 1997 Delaware Qualified Dispositions in Trust Act limits the access creditors may have to self-settled trusts. Creditors are limited to those who have access by contract, are personal injury victims, are bound by domestic relations agreement or proved to have fraudulent conveyance of assets. Alaska is the only other state with such benefits, and the Act provides protection almost equal to off-shore trusts.
Publication Name: Delaware Journal of Corporate Law
Subject: Law
ISSN: 0364-9490
Year: 1998
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