Asset Protection Strategies
Date: Dec 13, 2022 9:00 a.m. – 12:00 p.m.
Location: Online
Areas of Law: Real Property, Trust, & Estate
Earn up to 4.5 credits, including 1.0 in Ethics! (More Information)
Keynote
Moderator
Presenters
Why You Need to Attend:
Clients often ask how to protect themselves and their assets from creditors. Asset protection planning involves ways to legally structure one's asset holdings so as to protect them from the future claims of creditors. A variety of approaches and the legal framework for "doing it right," will be discussed.
About the Program:
Topics to be covered include Self-Settled Trusts, Spendthrift Trusts, Tenancies by the Entirety, and LLC's. Trust taxation will be addressed as well.
TOPICS INCLUDE:
- Domestic Asset Protection Trusts
- Nineteen states have enacted legislation providing for self-settled asset protection trusts. New Jersey has not yet adopted such legislation. This seminar will make you aware of this growing trend and whether you should consider recommending an asset protection trust to your clients. These trusts not only can provide protection from creditors, but can be used to avoid paying state income taxes.
- Limited Liability Companies
- You'll learn the differing asset protection treatment given by bankruptcy courts and other courts to single member vs multiple member LLCs. The seminar will analyze the protection provided by the LLC charging order and how this protection can be lost when LC is not properly administered.
- Other Asset Planning Techniques
- We will explore the best strategies for holding assets from an asset protection standpoint including IRAs, 529 Plans, tenancies by the entirety, and other forms of joint ownership. We also will discuss what advice should be given to clients who have investment real estate holdings.
- Reexamining Trusts in Which the Grantor is Not a Beneficiary
- When your client wishes to establish a trust for the benefit of family members and other third parties who may themselves have spending and /or creditor problems, including how to protect government entitlements including Medicaid. What are the effective methods of protecting beneficiaries from themselves and their creditors, and what impact does the recently enacted Uniform Trust Act have on asset protection?
- Fraudulent Conveyances and Ethics
- You'll learn the legal framework governing this important area of the law, what not to do and what to do when a business or individual is purchasing assets or incurring debt.
- Trust Decanting and Trust Mergers
- Find out the most effective ways to amend existing irrevocable trusts to ensure protection from the claims of creditors.
Important Information About Our Events, Meetings, and More:
To secure your spot and receive important updates about our events, meetings, and other gatherings, such as schedule changes, remember to register in advance.
Cancellation and Refund Policy:
If you need to cancel your registration and are not transferring to another program or date, please submit a written request to us at least three business days before the event, meeting, or gathering. You will receive a refund minus a $20.00 cancellation fee. No refunds or registration changes will be issued within three business days of the event, meeting, or gathering.
Stay Informed:
Registered participants will be notified of any schedule changes. For updates regarding inclement weather, please check your email or visit NJSBA.com.
Media Consent:
By participating in our events, meetings, or other gatherings, you agree to be photographed and/or recorded. Additionally, all media content captured during these gatherings will become the property of NJSBA. This content, including your image and name, may be used in our future promotional materials without additional consent or compensation.
Scholarship & Financial Assistance Policy:
Read our Scholarship & Financial Assistance Policy and submit an Application here: https://njsba.com/njicle/cle-programs/scholarship/