Asset Protection Trusts: Current U.S. Tax Reporting Requirements

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Volume XXIII • Number 3 • November - December 2015 © 2015 Donlevy-Rosen & Rosen, P.A.    INTRODUCTION.  U.S. tax law imposes varied reporting requirements on trusts. The nature of these  requirements depends upon whether the trust is a foreign trust or a U.S. trust for U.S. income tax purposes. Note the use of the [...]

FRACKING: The Coming Litigation Storm…

Volume XXII • Number 1 • March/April 2014 © Donlevy-Rosen & Rosen, P.A. INTRODUCTION. Fracking (hydraulic fracturing) is a drilling process that was first commercially used in 1949, and one whose use has exploded in recent years. Fracking involves forcing fluid at high pressure into a geologic formation containing oil or gas. The fluid fractures [...]

Asset Protection: A Necessary Response to “Out of Control” Litigation

In today’s society litigation is often used a means for the accumulation of wealth — not only for greedy plaintiffs, but for their unscrupulous lawyers as well. The proliferation of all types of liability claims and new theories of liability, coupled with ever-increasing insurance premiums and defense costs have stunned the business and professional community in the United States.