Book Description:
This book is designed to be of use to all professionals involved in the asset protection plan, including attorneys, accountants, and financial planners among others. The subjects covered are those that the planner must consider when properly preparing an asset protection plan. The former 2 volume set is now available in a convenient one volume edition. The book includes a comprehensive CD ROM which contains the forms formerly found in Volume 2. The first part of the book covers fraudulent conveyance concepts, applicable rules and strategies concerning the planners choice of an appropriate business entity, use of domestic and foreign trusts, re titling assets into various forms of concurrent ownership, exemption planning, compliance rules concerning foreign bank accounts, and IRS enforcement of its tax claims. Also discussed will be the impact of the 2005 Bankruptcy Bill on the choice of trusts and planning strategies. The second part discusses forms that planners may use to effect asset protection plans and to provide planners with authoritative, yet practical and pragmatic guidance concerning the use of such forms. The accompanying disk provides the forms in a readily usable format. Introduction Fraudulent Conveyance Concepts Choice of Business Entity: Nontax Aspects Choice of Business Entity: Tax Aspects Use of Domestic Trusts Use of Foreign Trusts Retitling Assets: Concurrent Ownership of Property Exempt Property Foreign Bank Accounts Overview of the Enforcement of IRS Claims Appendix A: The International Trusts Act 1984 Appendix B: The Confidential Relationships (Preservation) Law Appendix C: The Confidential Relationships (Preservation) (Amendment) Law Appendix D: The Mutual Legal Assistance (USA) Law Appendix E: Conveyancing Amendment Act Appendix F: The Trusts (Special Provisions) Act 1989 (Bermuda) Appendix G: Alaska Trust Statute Appendix H: Delaware Trust Statute Appendix I: Trustee Act 1975 F
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