Estate Planning Asset Protection Strategies
Leveraging LLCs and Trusts to Protect Assets and Preserve Wealth
Recording of a 90-minute CLE teleconference with Q&A
Conducted on Tuesday, March 15, 2011
Recorded event now available
This teleconference will examine the use of LLCs, foreign trusts and domestic asset protection trusts to protect the assets of small or family businesses as well as individual investors. The panel will discuss the advantages and disadvantages of each entity and outline strategies to avoid pitfalls in using these entities.
Description
LLCs offer superior asset protection over many other entity forms because judgments against members result in charging orders against distributions made to members, not the LLC assets. Recent case law developments impact the ability of multiple- and single-member LLCs to provide asset protection.
Foreign asset trusts can offer reliable methods of shielding assets from creditors in jurisdictions such as Nevis and the Cook Islands. With the IRS tightening its FBAR reporting requirements, however, offshore trusts and entities carry with them important tax reporting burdens.
Domestic asset protection trusts may provide a viable alternative to foreign trusts and are available in about 12 states. Estate planning practitioners must weigh the pros and cons of the various statutes as they consider domestic APT planning strategies.
Listen as our authoritative panel of estate planning practitioners discusses techniques to protect assets and preserve wealth for small and family businesses and well as individual investors.
Outline
- Maximizing exempt asset planning
- Homestead exemption
- IRAs
- Insurance
- Annuities
- Tenancy-by-entirety
- Using LLCs to protect nonexempt assets
- Statutory review
- Charging orders
- Impact of recent case law on single-member LLCs
- Sample LLC planning structures
- International v. domestic LLCs
- Using asset protection trusts to protect nonexempt assets
- Protective trust provisions
- Jurisdiction selection – international v. domestic
- Impact of recent case law
- Sample APT planning structures
- International compliance
- FBARs
- Impact of FACTA
- Other disclosure and reporting requirements
Benefits
The panel will review these and other key questions:
- What makes an LLC preferable to an S corporation or a trust for estate planning and asset protection purposes?
- Is the Olmstead case indicative of a trend toward disregarding single-member LLCs for asset protection, or is it an outlier?
- How do asset protection trusts work, and which state statutory trusts provide the most protection?
- How have more restrictive FBAR rules impacted the choice to use foreign trusts?
Upon completing this seminar, an attendee will have learned strategies for using LLCs, foreign trusts and domestic asset protection trusts to protect the assets of small or family businesses as well as individual investors.
Faculty
James M. Duggan,
Principal
Duggan Bertsch, Chicago
His practice has concentrated principally on business and corporate law, and estate and wealth planning, primarily as they relate to closely held business interests and high net worth families. His experience in the structuring and implementation of Family Offices, sophisticated tax planning, and asset protection planning strategies is nationally recognized.
Gregory J. Bertsch,
Principal
Duggan Bertsch, Chicago
His primary focus is on business and corporate planning, federal taxation, and estate planning for private clients. His experience includes advising clients on sophisticated taxation issues designed to minimize income and estate taxes, protect assets and preserve wealth. He also has expertise with international tax planning concepts for multinational companies and captive insurance arrangements.
Ordering
Online CLE - Audio Recording
Includes audio streaming of full program plus handouts (available 24 hours after live seminar).
CLE:
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(*Indicates that Strafford must report attendance.)
Online CLE Audio $127.00
Available 24 hours after the live event
Recorded Event
Includes full event recording plus handouts (available after live seminar).
CLE: Pre-approved for self-study credit in: AK, AZ, CA, CT, FL, GA, HI, ME, MO, MT, NY, TX*, VT, WA, WV. Upon request, self-study credit is also available in: CO, ID, KY, ND, NE, NH, NM, NV, OR, UT, WI, WY. If you are applying for self-study credit in one of these states, contact Strafford CLE at 1-800-926-7926 ext. 35 or CLE@straffordpub.com. (*Indicates that Strafford needs to process the CLE — see below to purchase this option.)
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Available three business days after the live event
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plus $9.45 S&H
Available ten business days after the live event
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Available 24 hours after the live event
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plus $9.45 S&H
Available ten business days after the live event
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Customer Reviews
The webinar offered excellent insight into some specific areas.
Beth Ann R. Lawson
Virginia Beach Law Group
The seminar was very informative and easy to understand.
Amy Allison
Anderson Hunter Law Firm
The program was well organized and discussed the major issues.
Roxy Hammett
Wolff & Samson PC
The speakers were well versed and kept my attention throughout the program.
Natalie Kossak
Independent Fiduciary Services
The speakers were very clear, engaging and thorough.
Eric LaMons
Wilk Auslander LLP
Estate Planning Advisory Board
Partner
Annino & Ligon
Partner
McArthur Franklin
Partner and Practice Group Leader - Tax
Waller Lansden Dortch & Davis
Partner
Fitzgerald Abbott & Beardsley
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