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Course Details

Course Information
  • smart_display Format

    On-Demand

  • signal_cellular_alt Difficulty Level

  • work Practice Area

    Estate Planning

Date & Time
  • event Date

    Tuesday, May 19, 2020

  • schedule Time

    1:00 p.m. ET./10:00 a.m. PT

  • timer Program Length

    90 minutes

Credit Information

  • This 90-minute webinar is eligible in most states for 1.5 CLE credits.

$297.00
CLE
ALL

This CLE course will provide estates and trusts attorneys an in-depth analysis of available methods of building asset protection into estate plans under current tax law. The panel will discuss pitfalls to avoid in accord with current tax rules, approaches to guard assets, fraudulent transfers, and using LLCs and limited partnerships. The panel will also discuss maximizing exempt assets, effectively using powers of appointment, and beneficiary asset protection considerations.

Faculty

K. Eli Akhavan
Partner
Grant Herrmann Schwartz & Klinger, LLP

Mr. Akhavan focuses his practice on tax and estate planning for high-net-worth US and non-US clients. He advises domestic and international individuals and families with respect to tax and estate planning for their US assets and beneficiaries. Mr. Akhavan also advises cross-border clients on all aspects of international estate matters, including foreign trusts, pre-immigration and expatriation planning, and on planning for the purchase of US residential and investment real property. He has considerable knowledge of the reporting requirements applicable with respect to foreign financial accounts and assets and with respect to FATCA and its global equivalent, the Common Reporting Standards (CRS). Mr. Akhavan's practice includes advising clients on the formation of private trust companies for purposes of wealth management and privacy.

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Howard Neiswender
Shareholder
Sirote & Permutt, PC

As a member of our Private Clients, Trusts and Estates Practice Group, Mr. Neiswender provides comprehensive wealth planning for individuals and business owners. His representative work includes the use of innovative tax planning strategies and working with business owners to coordinate their business planning and their personal planning. Mr. Neiswender also works with United States and foreign individuals and businesses in all areas of international planning.

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Description

The implementation of asset protection techniques for estate planners under current tax law could have significant repercussions if not carefully structured. Trusts and estates counsel must have a complete understanding of the potential tax ramifications and critical legal considerations regarding asset protection methods.

Typically, building asset protection into estate plans focuses on guarding clients and their estates against creditors; however, a variety of opportunities are available under the current tax regime. Trusts and estates counsel must recognize the applicability of essential tax rules in developing methods to guard assets and pitfalls to avoid in the use of trusts, LLCs, and partnerships. Also, identifying exempt assets, carefully crafting powers of appointment, and recognizing issues regarding asset protection for beneficiaries must be considered.

Listen as our panel discusses essential techniques for building asset protection into estate plans under current tax law, key provisions in structuring trusts, and state law considerations.

Outline

  1. Tax rules impacting asset protection planning
  2. Methods for guarding assets
    1. Use of trusts and critical provisions
    2. Use of LLCs and partnerships
    3. Maximizing exempt assets
  3. Avoiding fraudulent transfers
  4. State law developments and considerations for trusts and estates counsel

Benefits

The panel will review these and other key issues:

  • What tax law rules have a significant impact on building asset protection in estate plans?
  • What are the most effective techniques for guarding assets?
  • What transactions are subject to the fraudulent transfer rules and methods to avoid them?
  • What are the state law considerations?