Exciting new series on “Voice, Body and Movement for Lawyers – How to connect with the jury and find Justice Through Dramatic Technique!”
Click here to find out moreIf your practice involves wealth planning, this program applies not only to your clients, but to you and your own practice as well. You should at least have a general familiarity with concepts involving protecting individually-held assets (referred to as “Level I” Planning) and with concepts involving protecting the assets of a business or professional practice (referred to as “Level II” Planning), and in this program, Barry Engel discusses how you can borrow planning concepts from Level I Planning and apply them in the context of Level II Planning. You and your clients will be able to benefit from this process by reducing your, and their, annual malpractice, D&O or E&O premium outlay as well as by providing a safety net in case professional or business indemnity coverage is ever denied by the carrier or is otherwise lost. Some of the Level II Planning strategies covered include: 1) a business or professional practice as the settlor of its own 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; and 5) “liquefying” the equity of a business or professional practice and contributing the proceeds to an integrated estate planning trust.
