Featured Articles

Too Many Lawyers?

Ken Laino
July 07, 2011 19:43

Given the poor state of our economy in recent years, one would expect that the number of lawyers in the United States would be declining. There has been significant downsizing at larger law firms. Many businesses have been deferring some discretionary legal services. So one would...

Recent Articles

Medical Malpractice Suit can be Emotionally Devastating to a Physician

Ken Laino
February 08, 2012 16:43

Being named as a defendant in a medical malpractice case can be emotionally devastating to a physician -- even if the physician is only peripherally involved in the case. Very few people fully appreciate how troubling it can be for a doctor who is named in such a lawsuit. An...

Another Debt Collection Firm Agrees to Change its Collection Practices

Ken Laino
February 07, 2012 14:21

Debt Collector NCO Financial Systems will pay $1.5 million and change some of its collection practices to end an investigation by 19 states, including Ohio.  That is according to an article today in the Cleveland Plain Dealer, by its Consumer Affairs Reporter, Sheryl Harris.  The...

Mitt Romney Keeps Funds in Cayman Islands and Switzerland

Ken Laino
February 03, 2012 13:36

As I have mentioned in many other posts, there is nothing wrong with using Swiss bank accounts or offshore entities.  A recent front page article in the New York Times noted that Mitt Romney and his wife hold millions of dollars in a Swiss bank account and millions more in partnerships in the...

Asset Protection Planning Should Have a Multi-Generational Focus

Ken Laino
January 26, 2012 20:11

It is generally estimated that more than half of all Americans have absolutely no estate planning documents.  This can potentially create a lot of hassles for your loved ones. But even those Americans with very good estate planning documents often fail to focus on asset protection for their...

IRS Form 8938 -- Another Reporting Requirement for Offshore Assets

Ken Laino
January 24, 2012 18:55

The IRS is continuing its efforts to identify sources of offshore taxable income of U.S. taxpayers.  This has lead to a new reporting requirement.  Many U.S. taxpayers with foreign assets must now file IRS Form 8938 - Statement of Specified Foreign Financial Assets.  This new...

Even Libraries Are Using Debt Collection Agencies

Ken Laino
December 27, 2011 20:08

According to a recent article in The Cleveland Plain Dealer, the Cleveland Public Library has hired a national collection firm to recover fines and overdue items.  Director Felton Thomas reported that the agency had collected $550,000 in fines and $2.6 million worth of outstanding...

Debt Collectors Sometimes Go Too Far

Ken Laino
December 26, 2011 19:38

The Ohio Attorney General's office recently settled a lawsuit filed against Allied Interstate, one of the country's largest debt collectors.  According to the Columbus Dispatch, Allied Interstate agreed to pay $150,000 and make changes in its practices.  Allied faced two dozen allegations...

Ohio Court of Appeals Provides Guidance About "Piercing the Corporate Veil"

Ken Laino
November 22, 2011 19:38

The Ohio Court of Appeals (10th District, Franklin County) recently provided some very specific guidance about "piercing the corproate veil" in Ohio.  The case is Lind Stoneworks, Ltd. v. Top Surface, Inc., 194 Ohio App.3d 98 (10th District 2011). The trial court held a corporation...

Mortensen Case Highlights Fraudulent Conveyance Issues

Ken Laino
November 21, 2011 19:06

A recent decision by the United States Bankruptcy Court for the District of Alaska (In Re: Thomas Mortensen, Case No. A09-00565-DMD) is clearly worth reading -- for a discussion of fraudulent conveyances, Alaska asset protection trusts, applicable statutes of limitations, and a variety of...