How to shield your assets from creditors and other claimants.
You've worked long and hard for your assets, from your business and home to hard-earned savings and investments. To safeguard themparticularly against liability suits, "America's number one indoor sport"A Guide to Asset Protection offers proven strategies to help you keep what you may have spent a lifetime earning.
Written by an attorney who specializes in tax-, estate-, and asset protection planning, this indispensable reference is filled with sound advice and practical tips on how to avoid the litigation jungle, as well as revealing insight on how creditors find and get at your assets. Actual case histories and model agreements steer you through the essentials, including:
• Protection through trustsirrevocable trusts and gift taxes, life insurance trusts, foreign asset protection trusts (FAPTs).
• Fraudulent conveyancesthe laws of fraudulent transfers, what fraudulent conveyance is (and is not).
• Asset protection for married couplesseparate and community property, transmutation agreements.
• Using family limited partnershipslimited liability companies.
• Employing qualified retirement plansanti-alienation rule, nonqualified retirement plans, individual retirement accounts (IRAs).
• Filing bankruptcy to protect your assetsdischargeable taxes, pre-bankruptcy planning, Chapter 7 and Chapter 13.