Welcome to Rack & Olansen
We are pleased to welcome you to our new website, which was redesigned to reflect the restructuring of our Firm with the addition of Nathan R. Olansen, Esq. as a shareholder. The announcement of the formation of Rack & Olansen, P.C. was the perfect opportunity to develop a completely new website, with updated approaches to the delivery of key information to visitors to the site. We have also worked diligently to enable more intuitive search capabilities within the site, and to feature printer-friendly formats for attorney profiles and legal topical articles from our “Law Library” for use by both new and loyal clients and their financial advisors. We hope your online experience with the Firm will be as rewarding as it was for us to bring it to you.
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Featured Posts
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An Overview of Battley v. Mortensen: The End of Domestic Asset Protection Trusts?
Read more...In early 2011, a landmark federal bankruptcy case shed doubt on the asset protection powers of the previously lauded domestic asset protection trust (DAPT), alarming many attorneys and distressing certain of those trust-wielding clients. In a decision filed by the United States Bankruptcy Court for the District of Alaska on May 26, 2011, Judge MacDonald set aside Thomas Mortensen’s transfer of real property to an Alaska asset protection trust as a fraudulent conveyance.
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Account Held on Behalf of Disabled Family Member Not a Countable Asset for Medicaid
Read more...An appeals court in New Jersey ruled that a bank account held by a Medicaid recipient would not be considered a countable resource because the funds were being held on behalf of the applicant’s disabled grandson and not for the recipient’s personal use.
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The Importance of Beneficiary Designation Planning
Read more...Most people spend a lifetime accumulating retirement assets in qualified plans, IRAs and other tax deferred retirement accounts. Often times, these accounts constitute a significant portion of a person’s wealth. While most of the time the account owner will diligently plan for the withdrawal of assets during retirement, very little time is spent on planning for the distribution or transfer of the account after the owner has passed.