AttorneysEd Center

Estate planning dramatically changed as a result of the enactment of the American Taxpayer Relief Act of 2012 (“ATRA”). Join Ed Brown and John Garland as they discuss why the focus of planning must now shift to take into account the ancillary, sometimes not-readily-apparent consequences of ATRA. Topics covered include: • estate plans that place greater emphasis on income tax issues, gaining a step-up in basis, taking care of one’s family as opposed to having estate taxes drive the planning strategies, and exploring greater opportunities for more effective asset protection; • the increased significance of state estate and inheritance taxes, changes to marital deduction formulas, gifting strategies, the use of disclaimers, and whether to rely on portability; and • the effects of ATRA on traditional estate planning vehicles such as irrevocable life insurance trusts, intentionally defective irrevocable trusts, and family limited partnerships.

Barry Engel covers important developments in asset protection and estate planning during the period July 2012-November 2013. Topics include an update on relevant federal gift and estate tax developments, domestic and foreign statutory and case law issues specific to self-settled spendthrift trusts and to legal entities used in asset protection, and applicable developments involving the Foreign Account Tax Compliance Act (FATCA) under the HIRE Act.

Because of the importance to the client of his or her estate, regardless of size, estate planning attorneys should consider some degree of asset protection as part of the client’s overall estate planning. Join Barry Engel and Ed Brown as they provide appropriate asset protection planning strategies tailored to those individuals with small to medium-sized estates. Topics include: 1) the use of exemptions, which are valuable in that they provide categories of assets that are free from legal process as a judgment creditor attempts to collect a judgment; 2) joint ownership of property, which, based upon the state in which the individual lives, may render property either unavailable to a judgment creditor, more difficult to levy against, or less attractive to a creditor as an asset to pursue; 3) spousal gifting; 4) insurance; 5) annuities; 6) the use of family limited partnerships and family limited liability companies, due to the protection provided by charging order

As in other areas of the law, asset protection attorneys can learn important lessons and sharpen their planning skills by knowing and understanding the results of prior cases. Join Barry Engel as he provides an in-depth review and discussion of: the more important reported cases involving litigation challenges to asset protection trusts (as well as some unreported cases and settled cases); and the process of “protective measures” or “emergency measures” available to trustees of asset protection trusts when trust assets are faced with a threat.

Too often the asset protection planning process stops at protecting individually held assets; the assets of the client’s operating business, professional practice and/or real estate holdings are left unattended. Join Barry Engel as he discusses various principles, concepts and strategies designed to address these areas of need, including: 1) a business or professional practice settling a trust; 2) a business or professional practice undergoing a divisive reorganization to accomplish asset protection goals; 3) a business or professional practice forming and funding one or more related entities to which assets are contributed; 4) a business or professional practice selling its assets to a separately owned company and then leasing the assets back from the purchasing company; 5) “liquefying” the equity of a business or professional practice and contributing the proceeds to an integrated estate planning trust; and 6) asset protection planning structures owning real estate and the special considerations required by this immovable asset class.

Lawyers advising clients on asset protection planning and integrated estate planning matters are not only subject to ethics claims, but also risk potential exposure for civil and criminal liability as the result of ethical violations. Join Barry Engel for this important analysis of ethical considerations for asset protection and estate planning attorneys. Specific ethical rules to be discussed include: (a) the diligent representation of a client (Model Rule of Professional Conduct 1.3); (b) the potential conflict of interest involving current and former clients (Model Rules 1.7, 1.8, and 1.9); (c) the ethical duty of confidentiality (Model Rule 1.6); and (d) withdrawing and/or terminating the representation (Model Rule 1.16). Specific ethical issues to be covered include: (a) who is actually the client (including when to represent the individual client, when to represent the husband and wife, and when to represent the integrated estate planning trust); (b) the attorney-client privilege, and why your files are not as

Join Barry Engel as he covers the latest developments in asset protection and integrated estate planning. Topics include federal tax law, trust planning, conveyancing, debtor-creditor rights, bankruptcy law, contempt law, international law, and litigation developments that have taken place during the period July 2011-October 2012. NOTE: This course has been approved for Minimum Continuing Legal Education credit by the State Bar of Texas Committee on MCLE in the amount of 1.0 credit hours, of which 0 credit hours will apply to legal ethics/professional responsibility credit.

Asset protection and bankruptcy lawyers need to stay current with respect to relevant reported legal decisions in each other’s areas of practice in order to best serve their clients. In this program, Barry Engel (asset protection) and Rob Shilliday (bankruptcy) combine their areas of expertise to provide an informative legal review and a comparative analysis of their carefully selected top ten reported asset protection cases in the bankruptcy setting. Cases discussed involve: • both domestic and foreign asset protection trusts and other trusts with important principles concerning contempt of court, fraudulent transfers and preferences in bankruptcy, bankruptcy crimes, and alter ego, • when and if an interest in a trust should be included in a debtor’s bankruptcy estate, and • practical considerations from asset protection and bankruptcy perspectives when considering whether to voluntarily file for bankruptcy protection when an interest in a trust is involved.

In this program for asset protection and integrated estate planning lawyers, Barry Engel analyzes choice of law decisions and how they may lead to conflict of law issues. Topics include: • a review of applicable reported cases with respect to choice of law and conflict of law principles, • a comparative analysis of the law in select domestic and offshore asset protection-oriented jurisdictions, i.e., given choice of law principles, what is there from which to choose, and once selected, what are the legal principles that would either support or interfere with the selected law, • an analysis of the foregoing jurisdictions’ statutory provisions and a discussion of some of the more interesting nuances from jurisdiction to jurisdiction that make them attractive or at least interesting, and • a comparative analysis of offshore trust planning versus domestic trust planning in the asset protection setting.

Assisting clients in the areas of asset protection and pre-bankruptcy planning is fraught with danger and may expose an attorney to professional discipline, civil damages, and even criminal liability. In this ethics program, Rob Shilliday explores the Rules of Professional Responsibility applicable to representing clients in asset protection and pre-bankruptcy planning and provides practical guidance in avoiding potential liability and disciplinary actions. Note: This course has been approved for Minimum Continuing Legal Education credit by the State Bar of Texas Committee on MCLE in the amount of 1.0 credit hours, of which 1.0 credit hours will apply to legal ethics/professional responsibility credit.