By Edward D. Brown, JD, LLM, CPA; Andrew Bechel, JD, LLM; and Eric Kaplan, JD

Much has been written about asset protection strategies, such as offshore trusts, limited liability companies (LLCs), insurance, and exemption planning. The focus of this article is to identify which of those strategies are best suited to high-risk professionals, whose risk exposure derives from the provision of professional services (as opposed to risky investments or predators who target the megawealthy). Some of the strategies discussed below reflect ways to reduce a professional’s financial profile and accordingly, the size of the targets on their backs.

From a new final rule on nonfinanced real estate transfers to the suspension of an attorney whose actions left a client ineligible for Medicaid and a nationwide injunction on the enforcement of the Federal Trade Commission’s Non-Compete Rule, we have recently seen significant legal developments.

To ensure that you stay abreast of these changes, we have highlighted some noteworthy developments and analyzed how they may impact your estate planning, elder and special needs law, and business law practices.

By Jennifer L. Villier, JD

Newly available generative artificial intelligence (AI) tools have the potential to dramatically ease some of the more tedious and time-consuming aspects of practicing law. However, these tools can also cause trouble for the lawyers who use them. How will AI and the law co-evolve? It is a question that members of the legal profession are now grappling with as federal and state courts and state bars around the country (indeed, around the globe) race to formulate rules and guidelines for using AI in the practice of law.