Alaska Supreme Court Takes a Wack at their Domestic Asset Protection Trust Statutes

The Alaska Supreme Court ruled that Alaska does not have exclusive jurisdiction to hear claims of whether conveyances to an Alaska domestic asset protection trust (“DAPT”) were fraudulent transfers. In Toni 1 Trust v. Wacker, 2018 WL 1125033 (Alaska, Mar. 2, 2018), as judgments were being entered against them, Bertran and Barbara Tangwall transferred Montana…
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Equity, Equity, Debt! No wait, BAD DEBT!

Yet again, a taxpayer loses for not properly and contemporaneously documenting his intentions. Here is  another lesson on the importance of properly documenting loans (i.e. don’t just “book” as loans but have written loan documents contemporaneous with the advance). Mr. Burke made a number of advances to a business operated by his friend.  Although the…
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