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!