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Article Written for : Florida Bar Journal

by Eric Boughman and Gary Forster

An often overlooked, but essential component of asset-protection planning is making a careful assessment of a client’s financial status. Although timing is generally considered the most critical element of asset protection, due consideration must be given to both the value of assets exchanged and the effect of plan implementation on one’s balance sheet.

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Article Written for: Forbes.com
Despite some misconceptions, using bitcoin or other cryptocurrencies for asset protection in connection with offshore planning may be an effective strategy. A crucial facet to using foreign trusts to protect wealth is ensuring that the trustee and trust assets remain outside of any jurisdiction where the grantor might be sued. Some U.S. states may find the concept of self-settled trusts anathema to public policy and thus choose to ignore the trust and treat the grantor/beneficiary as the de facto owner of trust assets.

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Article written for: Forbes.com
The Great Recession of the mid-2000s forced us to view economics, banking, wealth and security in new ways. The concept of asset protection, already a growing area, saw an explosion in popularity, which has given rise to an ever-evolving cat and mouse game between creditors and debtors and their respective advisors. Meanwhile, distrust in banks and governments fueled the creation and rise of Bitcoin, which spurred interest in new digital currencies relying upon similar technologies.

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Article written for: BizJournals.com

Effective asset protection requires the strategic use of several legal components. These include the transfer of assets to protective structures (such as limited liability companies and trusts), proper allocation of legally protected assets, insurance and proper titling of assets to maximize legal exemptions from claims. Proper structuring insulates assets against claims from future, unknown creditors.
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Second Edition

Orlando, FL – Gary A. Forster, Managing Partner of the Orlando-based law firm of Forster Boughman & Lefkowitz (www.fbl-law.com) announced the release of the second edition of his book, Asset Protection for Professionals, Entrepreneurs and Investors. The book, which has sparked international interest, is a highly informative commentary on creditor protection law. Through real life examples and court cases, the book reveals the most effective strategies for safeguarding your wealth. The book offers insight into which states and countries offer the most effective protections and how to take advantage of them.

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Attorney Gary A. Forster’s key amendments make the Nevis LLC a more effective planning tool for financial professionals and their clients

Orlando, FL – On May 27, 2015, the Nevis Island Assembly passed much needed protections to its Nevis LLC Ordinance. Gary A. Forster, Managing Partner at the law firm of Forster Boughman & Lefkowitz (www.fbl-law.com) says that for years his firm has used the legal protections offered by this small Caribbean nation as part of its international practice. Mr. Forster also recognized deficiencies in the prior law (Nevis LLC Ordinance of 1995). Mr. Forster presented his concerns to a contact in Nevis, was asked to draft suggested amendments, and his amendments have been adopted in the new Nevis LLC law. (Nevis Limited Liability Company Ordinance (Amendment), 2015)

Published in Press Releases

Article Written for: AccountingToday.com
Effective asset protection requires the strategic use of several legal components. These include the transfer of assets to protective structures (such as limited liability companies and trusts), proper allocation of legally protected assets, insurance and proper titling of assets to maximize legal exemptions from claims. Proper structuring insulates assets against claims from future, unknown creditors.

Published in Publications

Article Written for : bizjournals.com
As the story goes, John D. Rockefeller was getting his shoes shined when the shoeshine boy, not knowing whose shoes he was shining, started offering stock tips.

That was Rockefeller’s cue to turn bearish on the stock market. "Secret" tips lose their efficacy when no longer secret.

While speaking at a recent seminar, we received several questions from CPAs and financial professionals about the use of Delaware bank accounts to protect cash. The questions reflect a national trend to use Delaware accounts for "asset protection."

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Article written for: Orlando Business Journal 

Limited liability companies have become the entity of choice for small business owners and are commonly used by professionals in asset protection planning. Choosing to form an LLC instead of a corporation may be prudent, but it raises the question of where to form the LLC. There are several factors to consider in deciding where to establish the entity. Picking the right LLC jurisdiction may be as important as the decision to use an LLC.

In 2010, the Florida Supreme Court issued a ruling that eviscerated the effectiveness of the Florida single­member LLC for asset protection purposes.

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We cater to the professional, entrepreneur and investor seeking customized domestic and international asset protection strategies.

Our firm also analyzes potential exposure to individuals and businesses and provides strategies to insulate vulnerable assets.

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