The government isn’t the only entity from which clients may wish to shield their assets. Perhaps your client owes money all over town, but would still like to leave something for his kids, or maybe he doesn’t trust his daughter’s husband and wants to ensure that he isn’t enriched at her expense in the event of a split. As we’ve written in the past, trusts are still the best way to ensure that clients’ assets aren’t waylaid by third parties before reaching their destinations. According to Gideon Rothschild, partner at Moses and Singer in New York, “Planners may have to pay as much or more attention to asset protection than tax minimization.” Debtors and divorce are here to stay no matter what Congress does, after all.
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