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FPC #5: Asset Protection vs. Creditors, Predators & Prodigals




You’ve heard a lot about asset protection in recent years — why so much talk about asset protection?

  • What is asset protection — from whom must assets be protected?
  • Who needs asset protection planning more — the wealthy, or those with precious little to pass on?
  • How is health care related to asset protection?
  • How does asset protection planing relate to the “four D’s”: Debt, Divorce, Disability, and Death?
  • What asset protection concerns arise from holding property in joint tenancy?
  • What is meant by “bloodline protection”?
  • What is meant by “spendthrift protection”?
  • Should California trusts give beneficiaries rights of withdrawal? should they have multiple beneficiaries, or at least have a goal of preserving assets for remaindermen?
  • Is protection from creditors even possible in California? how?
  • What about asset protection trusts in other states? offshore?
  • How does bankruptcy affect asset protection planning?
  • How does insolvency affect asset protection planning?
  • Should trust protectors be included to make necessary changes and move the trust to another state for more asset protection?
  • Should decanting be allowed? and by whom, trustee or trust protector? both?
  • How does the Full Faith and Credit Clause of the US Constitution affect asset protection planning?
  • How does the Uniform Voidable Transactions Act (UVTA) affect asset protection planning?
  • Are outright gifts ever a good idea?
  • Is it ever a good idea to allow a child to serve as trustee of the child’s trust?
  • Is it ever necessary to disinherit a child?
  • Are no-contest clauses effective in California?
  • Are there any asset protection concerns with a beneficiary serving as co-trustee?

This is one of the focus topics we present on a revolving basis at our weekly “guntrust Challenge” competitions — part shooting match, part quiz show.

So come visit our Family Protection Clinic and gain expertise on estate planning and self-defense!

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