Asset Protection 2022

Overview

The current litigation explosion has created tremendous Interest in asset protection. Not only does this area have financial and estate aspects but it directly impacts tax planning. This 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 & separate property
• Premarital and post-nuptial agreements

Objectives

• Recognize misconceptions about and the main reasons for asset protection, determine fraudulent transfers noting how to structure asset protection planning transfers so that they are not fraudulent, identify goals associated with undertaking asset protection measures, and specify how life insurance can be used as an asset protection vehicle.
• Identify 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 noting which states base distribution laws on those concepts, specify asset division principles, and recognize premarital and post-nuptial agreements and how they can be used to advise clients in individual asset protection.

Notice

This is a self-study/on demand course offered by a 3rd party vendor and will NOT be accessible in the My Upcoming CPE section of the ISCPA website. Course access information will be emailed directly to you by CalCPA. The course expires one year from the purchase date. Format = Downloadable PDF.