Asset Protection: Concepts and Strategies for Protecting Your Wealth [NOOK Book]

Overview

A practitioner's guide to today's most effective asset protection strategies



Shielding assets isn't easy to do in our increasingly litigious society. Yet all too often, business owners and high-net-worth individuals find it more difficult to protect their financial interests from unregulated "asset ...

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Asset Protection: Concepts and Strategies for Protecting Your Wealth

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Overview

A practitioner's guide to today's most effective asset protection strategies



Shielding assets isn't easy to do in our increasingly litigious society. Yet all too often, business owners and high-net-worth individuals find it more difficult to protect their financial interests from unregulated "asset protection planners" than from the courts--and find themselves losing heavily to both.



Asset Protection details today's most successful, legitimate, and court-proven strategies for protecting one's assets. Taking a unique, all-encompassing approach that minimizes complex legalese to focus on easy-to-understand, effective asset-shielding practices and techniques, this timely book discusses:





  • The goals of asset protection, along with steps for implementing an effective asset protection program

  • Traditional as well as new techniques--what they are, how they work, when and how to use them

  • The vital relationship between asset protection and financial planning, and how to design one umbrella program to address both



Asset Protection delivers a welcome dose of common sense and legitimacy to a field top-heavy with gimmickry and dishonesty. Written by two of today's top legal asset protection experts, it provides you with frank, pull-no-punches details on how to do everything under the law to shield assets from harm in an unpredictable and financially perilous world.







For professionals, business owners, and high net worth individuals, the danger in leaving assets vulnerable to the whims of courts and claimants is higher today than at any time in the past. And while seminar speakers often refer to "bulletproof" asset protection strategies, experienced asset protection planners know that no program or method exists that is effective in every situation--because as soon as a strategy is proven effective the attempts to undermine it will begin in earnest.



Asset Protection is today's most level-headed and technique-based look at how asset protection planning should be approached, both by the finance practitioner and the individual. It presents tools that have worked while warning against means that are inappropriate or even perilous, and provides guidelines for developing effective strategies that will work in both macro (broad) and micro (specific) situations.



Written by two of today's most experienced and authoritative asset protection attorneys, this results-driven book provides a detailed, objective look at all vital aspects of the asset protection picture:





  • Trusts--What they are, what they aren't, which to implement, and when

  • Bankruptcy law --Including pre-bankruptcy planning tactics

  • Fraudulent transfers--And the confusion underlying the Uniform Fraudulent Transfers Act (UFTA)

  • Offshore planning--How to make it financially effective, tax-compliant, and judicious

  • Asset exemption options--And the limits of exempt asset status



In addition, Asset Protection also goes beyond other books of its type to explore the issue of morality in asset protection, and how actions that are seemingly right under the law can still lead to defeat in the courtroom. It provides different scenarios to illustrate how moral dilemmas can impact judges and juries, and discusses how to address these situations--or, better yet, keep them from ever reaching the courtroom.



The future of asset protection is being written even as you read these words. Get the inside story on strategies for shielding assets both today and in the future, from everything from lawsuits and the IRS to creditors and even outright scams, in the comprehensive and indispensable Asset Protection.

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Product Details

  • ISBN-13: 9780071505475
  • Publisher: McGraw-Hill Education
  • Publication date: 6/11/2004
  • Sold by: Barnes & Noble
  • Format: eBook
  • Edition number: 1
  • Pages: 326
  • Sales rank: 890,204
  • File size: 4 MB

Meet the Author

Jay Adkisson (Laguna Niguel, CA) is a wealth planner with experience as a lawyer in high-profile cases involving offshore assets. He has been favorably featured

in the Wall Street Journal, Forbes, and other

major publications.



Chris Riser (Atlanta, GA) is a U.S. tax attorney

and director of the American Bar Association’s

Asset Protection Planning Committee.

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Sort by: Showing all of 8 Customer Reviews
  • Anonymous

    Posted June 5, 2005

    A 'must read'!!

    I have practiced estate planning, with an emphasis on asset protection planning, for many years. This book¿s explanation of various asset protection techniques, many of which I have used in my own practice, is both lucid and thorough. Not only will experienced practitioners find the book to be an invaluable source, but beginners too will discover a text that is highly readable and easy to understand. I am confident saying that Asset Protection spans ¿the universe¿ of such techniques, with both analysis of the fundamental ¿building blocks¿ of the area and coverage of more advanced methodologies. Apart from its useful content, I also found the format of Asset Protection to be particularly straightforward, starting with its discussion of the basic concepts of asset protection and its goals, as well as ethical considerations, proceeding to cover many trusts currently being employed in sophisticated estate planning, and ending with a thorough discussion of entities that should play a part in many sophisticated estate plans. In sum, for beginner and practitioner alike, this book is a ¿must read¿!!

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  • Anonymous

    Posted September 20, 2004

    Practice what they preach.

    There is so much mis information about this area of law floating around. These guys practice in this area and are first rate. This should be recommended reading for anyone in the financial services industry. Very on point and well done. Tim White

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  • Anonymous

    Posted July 20, 2004

    One of the Best

    I found this book to be one of the best books on this topic. The book is written in a manner that is easy to understand for both the seasoned professional as well as the armchair advisor. This is going to be at the top of my 'recommendations' list!

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  • Anonymous

    Posted July 3, 2004

    Very solid

    This is a very different book about asset protection. It is factual and technical and seems to be written more as a guide to professionals to implement asset protection plans than to the general public, making it the first of its kind. This book does not talk about litigation crises or how the average American is likely to be sued. It does not dwell on the offshore islands where people hide money, and it does not give hints about hiding money or tax evasion. What it does do is give a very good overview of assets protection as it relates to complex legal planning. It talks in great detail about the fraudulent transfer laws and the bankruptcy laws. It talks about how to maximize the benefits of mostly domestic structures, strengthened only as necessary by offshore planning. There is a discussion of captive insurance companies and offshore life insurance, but it is toward the end and does not dominate the book. I think that the best parts of the book were giving an inside glimpse into the asset protection planning world, and showing how the mostly highly marketed structures suffer from serious defects. This is definitely a wake-up call for those who are serious about asset protection, and do not want to fall under the spell of some marketer who sounds good but doesn¿t really know what they are talking about. We could certainly use a few more books about asset protection like this one, and less of the self-promotional offshore type.

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  • Anonymous

    Posted July 7, 2004

    Refreshing and funny in places

    Just finished it. This was a very well-written book, although it is hard to figure out who the intended audience is. It doesn¿t seem like they are writing to potential clients, since much of the subject matter is complex, but it is written somewhat like a novel, with occasional anecdotes, so more than just other planners would get something meaningful out of it. The writing style reminds me a lot of the Burton Malkiel classic ¿A Random Walk Down Wall Street¿ where there is a mixture of technical theory heavily laced with enlightening storytelling. It definitely has the flavor of professional editing by McGraw-Hill¿s staff and is obviously not a self-published work. Anyhow, whether you are looking for asset protection solutions or not, the book is quite entertaining and gives an often unflattering view of how asset protection is marketed, such as seminar promoters hiring shills to sit in the audience and act like they are participants to encourage others in the audience to buy kits. A good fifth of the book seems to be an expose of offshore trusts ¿ you certainly won¿t read this book and rush out to start your own offshore trust after reading about how some people who set them up have gone to jail. The section on equity stripping is very good, as is the section on offshore limited liability companies. This book has ample diagrams to help explain complicated strategies, but the part on advanced methodologies whetted my appetite to learn more and I wish that several additional chapters had been devoted to these topics. It is refreshing to finally see a book whose treatment of asset protection goes beyond ¿just hire me to hide your money overseas¿ as so many of the books heretofore have done.

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  • Anonymous

    Posted July 13, 2004

    Like a good bottle of wine

    Reading this book is like finally getting a good bottle of aged wine after drinking years of fruit punch. From the descriptions of the seedy offshore planners who sell Cook Islands trusts to people whether they need it or not, to the domestic seminar promoters who line up shills to encourage attendees to buy cheapie family limited partnership kits, this book gives a candid look into how asset protection is sometimes shamelessly promoted. Having revealed the dirt under the rug, the book then goes on to address asset protection as a field of risk management and gives the best treatment of fraudulent transfer and bankruptcy preference rules that I have ever read. Just about all the popular asset protection strategies are reviewed, from Nevada bearer share entities to complex litigation expense policies, with the major strengths and weaknesses of each pointed out. The book spends quite a bit of time discussing both foreign and domestic asset protection trusts and their potential flaws (if I were a creditor attempting to penetrate such a structure, this would be the first resource that I would turn to), such that it is a wonderment that those structures are even used at all. Overall, the writing style is good, with just enough technical background on key points to let serious researchers know where to start, without it being overwhelming for the average business reader. Kudos to Jay and Chris. This book is well-researched and provides a level of thoughtfulness and depth of content that has been sadly absent from all the other books considering the topic of asset protection. Big thumbs up!

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  • Anonymous

    Posted December 18, 2008

    No text was provided for this review.

  • Anonymous

    Posted September 16, 2010

    No text was provided for this review.

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