Family Law Prof Blog

Editor: Margaret Ryznar
Indiana University
Robert H. McKinney School of Law

Friday, August 12, 2016

Shielding Assets

From Patricia Cohen, writing for the New York Times:

Steven J. Oshins, a Nevada lawyer who specializes in estate planning, has never met the wealthy software entrepreneur Dan Kloiber, but he is nonetheless intensely interested in Mr. Kloiber’s contentious divorce.

“I have had a Google news alert on that for a couple years,” Mr. Oshins said as he discussed the case from his office in a squat pink complex about a 20-minute drive from the Las Vegas Strip. What animates Mr. Oshins is not the juicy marital feud, but the legal arcana governing a trust in Delaware where the Kloiber family parked assets worth hundreds of million of dollars, sheltered from estate taxes.

Mr. Oshins, with a gleeful grin spreading across his face, relished the thought of the no-longer-beloved Mrs. Kloiber busting through the trust and exposing a potential chink in the formidable trust protection armor promised by Delaware — which just happens to fiercely compete with Nevada for the lucrative business of shielding assets owned by the superrich.

Read more here.

https://lawprofessors.typepad.com/family_law/2016/08/shielding-assets.html

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