Asset Protection ON DEMAND

Overview

The current litigation explosion has created tremendous Interest in asset protection. Not only does this area have financial and estate aspects, but it also directly impacts tax planning. This mini course is designed to survey opportunities for asset protection that can arise during tax planning and to determine how to properly report such transactions.

Highlights

Basic protection concepts and fraudulent transfers. Insurance. Individual titles and sole proprietorship. Corporations. Trusts. Co-tenancies. Partnerships. Limited liability companies. Marital property and separate property. Premarital and post-nuptial agreements.

Prerequisites

None.

Designed For

CPAs, financial professionals, enrolled agents, and attorneys.

Objectives

Identify misconceptions about and the reasons for asset protection and determine fraudulent transfers such as transactions intended hinder the collection of debt. Recognize how the various types of entities relate to asset protection and how the various types of joint ownership of property and various trusts directly impact asset protection and tax liability. Determine the concepts of common law property, community property, and equitable ownership, specify asset division principles, and recognize premarital and post-nuptial agreements and how they can be used to advise clients in individual asset protection.

Preparation

None.

Notice

None.