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Asset Protection Planning: Fundamentals and New Approaches

Understand key strategies for approaching domestic and offshore asset protection trusts for your clients.

We live in a litigious society that seems to be victim oriented. Clients with assets are continuously subject to potential claims of liability. Understanding the key strategies for approaching, designing and structuring Domestic and Offshore Asset Protection for your clients is critical. This material will focus on the fundamentals involved in Asset Protection Planning and more importantly on the various strategies, uses, benefits, requirements and differences among the various Asset Protection strategies. There will also be a discussion on the most recent application with respect to Asset Protection Planning. The concepts of inside and outside creditors will be specifically explained and the setup of various structures designed to protect against both types of creditors would be thoroughly discussed. Finally, there will be case studies that will help pull everything together and make the learning experience extremely valuable. Appendix materials will also be supplied that will greatly enhance your practice.

Runtime: 127 minutes
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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Introduction and Overview

  • What Is Asset Protection Planning?
  • Why Is It so Important?
  • Inside and Outside Creditors
  • Discovery and Remedies of Creditors

The Limitations

  • Fraudulent Transfers
  • Bankruptcy
  • Money Laundering and Other Criminal Statutes

The Operating Business Entity

  • Shield of Liability
  • Selecting the Proper Entity
  • Compliance

Protecting Real Estate and Investment Assets

  • The Limited Liability Company (LLC)
  • Multi-Tier Strategy
  • Protective Shields: Inside and Outside Creditors
  • The Charging Order
  • Forum Shopping
  • Series LLCs

Domestic Asset Protection Trust

  • Estate Planning and Living Trusts
  • What Is a Domestic Asset Protection Trust (the DAPT)?
  • Setting up and Maintaining the DAPT
  • Protection of the DAPT
  • The Modular Structure Utilizing LLCs
  • Complete or Incomplete Gift
  • The Trust Protector

Offshore Asset Protection Planning

  • Offshore Entities
  • Foreign Asset Protection Trusts (the FAPT)
  • Selecting the Proper Offshore Jurisdiction
  • Tax Considerations
  • Issues of Contempt
  • Offshore Modular Planning
  • The Trust Protector

Advanced Techniques

  • Irrevocable Life Insurance Trusts
  • Family LLCs
  • Charitable Planning
  • Qualified Personal Residence Trusts (QPRT)
  • ERISA and State Specific Retirement Plans

Putting It All Together

  • Case Example #1
  • Case Example #2
  • Physicians Case: Example #3

Appendix:

  • Business Entity Checklist
  • LLC Explanation
  • Post Incorporation Memorandum
  • Post Organization Memorandum for LLC
  • Bullet Proofing Your Corporation
  • Protecting the Personal Residence
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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

Applications have not yet been submitted for Delaware, Idaho, Kentucky, Ohio, Oklahoma, South Carolina, and Wyoming CLE for this course. However, if you are interested in obtaining CLE for any of the listed states or have any additional credit questions please email us at [email protected] or call us at 866-352-9540.

This course was last revised on November 29, 2018.

Call 1-866-352-9540 for further credit information.

  • AK CLE 2.0
     
  • Alaska attorneys may receive 2.0 hours of continuing legal education for completing this program. Please contact the Alaska Bar Association or go to www.alaskabar.org for details regarding reciprocity with other states.
     
  • AL CLE 2.1
     
  • This course or a portion thereof has been approved by the Alabama State Mandatory Continuing Legal Education Commission for a maximum of 2.1 hours credit.
     
  • Arizona CLE 2.0
     
  • The Arizona State Bar does not pre-approve or pre-certify MCLE programs. However, records of this program and attendance will be maintained by Lorman Education Services for auditing purposes. This activity may qualify for up to 2.0 hours toward your annual CLE requirement for the State Bar of Arizona.
     
  • CA MCLE 2.0
     
  • Lorman Business Center, Inc. is a State Bar of California approved MCLE sponsor and this course qualifies for 2.0 CLE hours of participatory credit.
     
  • CT CLE 2.0
     
  • Neither the Connecticut Judicial Branch nor the Commission on Minimum Continuing Legal Education approve or accredit CLE providers or activities. This course has been approved for CLE credit in jurisdictions aside from CT and therefore it automatically meets the content and delivery requirements in Connecticut. Credit is based on a 60 minute credit hour and shall be awarded as follows: 2.0 CLE credit(s).
     
  • HI CLE 2.0
     
  • This program was approved by the Hawaii State Board of Continuing Legal Education for 2.0 CLE credit hours.
     
  • IL CLE 2.0
     
  • This course was approved for a total of 2.0 hours of MCLE Credit by the Illinois MCLE Board.
     
  • ME CLE 2.0
     
  • This course has been approved by the State of Maine Board of Overseers of the Bar. Lawyers who complete this course shall receive 2.0 hours of CLE credit under M. Bar R. 12.
     
  • MO CLE 2.5
     
  • This course qualifies for self-study CLE credit in Missouri.
     
  • MT CLE 2.0
     
  • This program has been approved by the Montana Commission of Continuing Legal Education for a total of 2.0 CLE credits.
     
  • ND CLE 2.0
     
  • North Dakota CLE policy does not allow for pre-approval of any self-study courses. This course may qualify for up to 2.0 hours of CLE credit.
     
  • NH MCLE 2.1
     
  • NH MCLE does not approve or accredit CLE activities for the NH Minimum CLE requirement. Lorman Education Services believes this course meets the requirement of NH Supreme Court Rule 53 and may qualify for CLE credit(s). Program Length: 125 Minutes.
     
  • NM CLE 2.1
     
  • This program has been approved by the New Mexico Minimum Continuing Legal Education Board for 2.1 hours of credit.
     
  • NV CLE 2.0
     
  • This program has been approved by the Nevada Board of Continuing Legal Education for 2.0 CLE hours.
     
  • NY CLE 2.5 including Areas of Professional Practice 2.5
     
  • This course has been approved in accordance with the requirements of the New York Continuing Legal Education Board for up to a maximum of 2.5 credit hours in the area(s) of Areas of Professional Practice for 2.50 hours. Each hour may be counted only as satisfying one category of credit. Duplicate credit for the same hour of instruction is not permitted. This course qualifies for both established and newly admitted attorneys. Lorman Business Center, Inc. has a financial hardship guideline. Please contact customer service at 1.866.352.9539 for instructions on how to apply.
     
  • PA CLE 2.0
     
  • This Distance Learning program has been approved by the Pennsylvania Continuing Legal Education Board for 2.0 hours of substantive law, practice and procedure CLE credit.
     
  • RI CLE 2.5
     
  • This program has been approved by the Rhode Island Mandatory Continuing Legal Education Commission for 2.5 hours of CLE credit.
     
  • UT CLE 2.0
     
  • This program has been approved by the Utah State Board of Continuing Legal Education for 2.0 CLE hours.
     
  • VA CLE 2.0
     
  • This program has been approved by the Virginia Mandatory Continuing Legal Education Board for 2.0 CLE credit hours.
     
  • VT CLE 2.0
     
  • This program has been approved by the Mandatory Continuing Legal Education Board of Vermont for 2.0 hours of self-study CLE credit.
     
  • WA CLE 2.0
     
  • This program has been approved by the Washington State Board of Continuing Legal Education for 2.0 hours of A/V credit under the Law & Legal Procedure category.
     
  • WV MCLE 2.6
     
  • This program has been approved by the West Virginia State Bar MCLE Commission for 2.6 MCLE hours.
     
The CLE Code is ONLY a requirement when applying for CLE Credit in New York. Other states do not need to supply the CLE Code to apply for CLE credit.

To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.

Virginia MCLE requirements do not allow approval for programs that do not include an audio or audiovisual component.

This program was previously offered as a live webinar. Virginia MCLE requirements do not allow approval for attendance at duplicate programs.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Audio & Reference Manual

  • AK CLE 1.5
     
  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • CT CLE 1.5
     
  • GA CLE 1.5
     
  • HI CLE 1.5
     
  • IL CLE 1.5
     
  • ME CLE 1.5
     
  • MT CLE 1.5
     
  • NJ CLE 1.8
     
  • NM CLE 1.5
     
  • NV CLE 1.5
     
  • NY CLE 1.5
     
  • UT CLE 1.5
     
  • VT CLE 1.5
     
  • WA CLE 1.5
     
  • WV MCLE 1.8
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

MP3 Download

  • AK CLE 1.5
     
  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • CT CLE 1.5
     
  • HI CLE 1.5
     
  • IL CLE 1.5
     
  • ME CLE 1.5
     
  • MT CLE 1.5
     
  • NJ CLE 1.8
     
  • NM CLE 1.5
     
  • NV CLE 1.5
     
  • NY CLE 1.5
     
  • UT CLE 1.5
     
  • VT CLE 1.5
     
  • WA CLE 1.5
     
  • WV MCLE 1.8
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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More Program Information

Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Jeffrey R. Matsen, Esq.

Jeffrey R. Matsen, Esq.

Bohm Wildish & Matsen, LLP

  • Founder of Matsen Law and “of Counsel” to Bohm Wildish & Matsen, LLP
  • Practices encompasses Business Formation and Transactional Matters, Estate Planning, Asset Protection, Probate, Tax & Real Estate
  • Designated on the Nation’s “Top 100 Attorneys” by Worth magazine and one of Southern California “Super Lawyers” by Los Angeles magazine. Achieved the highest rating with Martindale Hubble Law Director and AVVO
  • Frequent speaker and author of numerous publications. Author of the ABA Publication The ABA Guide to Asset Protection Planning
  • J.D. degree, with honors, University of California Los Angeles; B.A. degree, cum laude, Brigham Young University
  • Can be reached at 714-384-6580
Ben Schwefel

Ben Schwefel

Bohm Wildish & Matsen, LLP

  • Associate attorney with Bohm Wildish & Matsen, LLP
  • Practice focuses on estate planning and assisting business owners and high net worth individuals to protect their assets, decrease their tax liabilities, and plan for future generations
  • Represents fiduciaries in complex probate, trust administration, and trust litigation matters
  • An active member of the Trust & Estates Section of the Orange County Bar Association, the Orange County Chapter of the USD Law Alumni Association, and The Elite OC – Young Professionals Giving Back
  • During law school, he received the Albert and Mae Lee Memorial Scholarship, recognizing strong scholastic ability and outstanding moral character; served as the comments editor for the San Diego Journal of Climate & Energy Law; and wrote a student comment selected for publication , 6 San Diego J. Climate & Energy L. 247 (2015)
  • J.D. degree, University of San Diego School of Law; undergraduate degree, University of California, San Diego
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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Pay once and get a full year of unlimited training in any format, any time!

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Product ID: 403969
Published 2018
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