For years, the Department of the Treasury was concerned that all-cash residential real estate transactions offered an opportunity to launder illicit funds. Bank-financed purchases already fall under lender Anti-Money Laundering (“AML”) obligations, but transfers that bypass institutional financing historically received far less scrutiny. Financial Crimes Enforcement Network (“FinCEN”)’s new residential real estate reporting requirement closes […]
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Does a Revocable Trust Protect Your Assets From Lawsuits and Creditors?
One of the most common misconceptions we hear about revocable living trusts is that placing a home, bank account, or...
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