Estate Planning Asset Protection Strategies

Leveraging LLCs and Trusts to Protect Assets and Preserve Wealth

Recording of a 90-minute CLE webinar with Q&A


Conducted on Tuesday, March 15, 2011

Recorded event now available

or call 1-800-926-7926
Program Materials

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.

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Outline

  1. Maximizing exempt asset planning
    1. Homestead exemption
    2. IRAs
    3. Insurance
    4. Annuities
    5. Tenancy-by-entirety
  2. Using LLCs to protect nonexempt assets
    1. Statutory review
    2. Charging orders
    3. Impact of recent case law on single-member LLCs
    4. Sample LLC planning structures
    5. International v. domestic LLCs
  3. Using asset protection trusts to protect nonexempt assets
    1. Protective trust provisions
    2. Jurisdiction selection – international v. domestic
    3. Impact of recent case law
    4. Sample APT planning structures
  4. International compliance
    1. FBARs
    2. Impact of FACTA
    3. 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?

Following the speaker presentations, you'll have an opportunity to get answers to your specific questions during the interactive Q&A.

Faculty

James M. Duggan
James M. Duggan

Principal
Duggan Bertsch

Mr. Duggan's practice has concentrated principally on business and corporate law, and estate and wealth planning,...  |  Read More

Gregory J. Bertsch
Gregory J. Bertsch

Principal
Duggan Bertsch

His primary focus is on business and corporate planning, federal taxation, and estate planning for private clients. His...  |  Read More

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