Law Practice Expansion through Integrated Estate Planning: Learning the Basics of Asset Protection Planning-Part 1
Program Number: 2111
Program Date: 03/01/2011
Description
Asset protection planning should be an integral part of any estate plan, and estate planners who are not incorporating asset protection features into client estate are not only doing a disservice to their clients but to themselves as well. In this first of a two-part series, Barry Engel introduces estate planners to the key concepts involved with integrated estate planning and its asset protection component. Areas of discussion include: what is an integrated estate planning trust (“IEPT”); how it combines with one or more domestic and/or foreign limited partnerships and/or limited liability companies; how the planner should balance protection of assets with day-to-day flexibility for the client; what constitutes a fraudulent transfer and what the downside can be for the client and for the planner; what portion of the client’s overall estate should be protected; what planning techniques are available to the planner and their relative level of efficacy; how domestic trusts compare to foreign situs trusts when asset protection is an important planning goal; and designing planning structures so they avoid the ire of the I.R.S. This discussion is followed by a comparative analysis of the various jurisdictions that are available for asset protection purposes, and a model integrated estate planning structure is then presented and reviewed as a case study.
Available in states
Arizona, California, Colorado Eligible, Florida, Georgia, Missouri, New Jersey Eligible, New York, Texas Self Study
Credit Information
50 minute credit hour - 1 General CLE credit
60 minute credit hour - 1 General CLE credit
State Program Numbers
Program Categories
Asset Protection
Bankruptcy Law & Creditor Rights
Domestic Relations
Estate Planning
International Law
Taxation Law
Presenters
Barry S. Engel, Esq. Engel & Reiman PC |
Barry S. Engel, Esq. is a principal in Engel & Reiman pc, a Denver, Colorado-based law firm with an international client base. Mr. Engel, who has been written about and quoted by The Economist, Business Week, ABA Journal, Wall Street Journal, The New York Times and Forbes, among others, is the author of CCH's Asset Protection Planning Guide (2nd Edition), which contains over 650 pages of text and practice tools for the practitioner. For information on the Guide, click on http://www.engelreiman.com/apguide.html. Mr. Engel was one of three principal co-authors of protective trust legislation as enacted by the Parliament of the Cook Islands in 1989, which has served as a model for many other offshore jurisdictions as well as for a number of states in the U.S., and he has also consulted with a number of other foreign jurisdictions regarding similar legislation. From 1993 to 1998, he was President of The Offshore Institute, an Isle of Man (British Isles) based international, multi-disciplinary professional body committed to education and excellence in international and offshore practice and planning, and under his leadership, the membership of the organization grew from under 100 members to over 600 members in 60+ countries. Mr. Engel is a prolific author and speaker, having been published extensively and having lectured to tens of thousands of professionals worldwide over the past 25+ years. |
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