Building Asset Protection Into Estate Plans: Critical Tax Law Issues and Methods for Guarding Assets

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, maximizing exempt assets, and other key considerations.

I. Tax rules impacting asset protection planning

II. Methods for guarding assets

A. Use of trusts and critical provisions

B. Use of LLCs and partnerships

C. Maximizing exempt assets

III. Avoiding fraudulent transfers

IV. Key considerations for trusts and estates counsel

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?
• Which transactions are subject to the fraudulent transfer rules, and what are methods to avoid them?