Unavoidably, business, personal and investment activities expose everyone to significant potential liabilities. These liabilities can result from such matters as medical and professional malpractice, real estate ownership, personal injury and negligence, loans, defective products, medical expenses, officer/director duties, environmental clean-up, defamation, trustee/fiduciary obligations, securities claims, and liabilities for children's activities.
Although traditional insurance covers some risks, it doesn't adequately cover many risks that can result in very significant and sometimes overwhelming losses. Asset protection can provide the leverage needed to settle future claims for a smaller percentage of the amounts that creditors or claimants could otherwise collect and help people avoid losing everything they've worked so hard to build.
- The law and procedure through which assets can be seized as a result of a lost lawsuit
- How to avoid the 'fraudulent transfer' trap
- Which types of assets are automatically shielded by law and how to take advantage of these laws
- Why you can't trust most trusts
- Effective asset protection steps for every investor, business owner and professional
- The risks and benefits of the different types of asset ownership
- The benefits and limitations of available business entities
- The costs, benefits and drawbacks of domestic and offshore techniques
- Why transferring assets to a spouse may be a huge mistake - and may not provide asset protection benefits
- How to protect assets without hiding anything from creditors, the IRS or anyone else
- The new 'gold standard' in asset protection structures - details of a model plan
9:00 a.m. - 9:15 a.m.
I. Introduction To Asset Protection
A. What Asset Protection Planning Is And Is Not
B. The Asset Protection Planning Process
9:15 a.m. - 10:00 a.m.
II. Litigation And Risks
A. Threats To Your Assets
B. The Business Of Law – Contingent Fees
10:00 a.m. - 10:15 a.m.
10:15 a.m. - 11:00 a.m.
III. The Debt Collection Process
A. Cost/Benefit Analysis
B. Post Judgment Remedies
C. Exemptions And Limitations
D. Converting Non-Exempt Property To Exempt Property
E. Piercing The Corporate/LLC Veil
11:00 a.m. - 11:45 a.m.
IV. Do It Yourself Asset Protection
A. Traditional Insurance Coverage
B. Spousal Transfers
C. Ways To Own Property
11:45 a.m. - 12:00 p.m.
V. Questions And Answers
12:00 p.m. - 1:00 p.m.
Lunch (On Your Own)
1:00 p.m. - 1:30 p.m.
VI. Other Domestic Asset Protection
Tools And Techniques
A. Using Limited Liability Companies, Corporations, Limited Partnerships
B. Protecting Accounts Receivable
1:30 p.m. - 2:15 p.m.
VII. Estate Planning/Asset Protection
A. Revocable And Irrevocable Trusts
B. Spendthrift Provisions
C. Powers Of Appointment
D. Alaska, Colorado, Delaware, Nevada And Rhode Island Trusts
2:15 p.m. - 2:30 p.m.
2:30 p.m. - 3:00 p.m.
VIII. International Asset Protection
Planning Tools And Techniques
A. Domestic Structures vs. Foreign Structures
B. Foreign Asset Protection Trusts
C. Foreign Limited Liability Companies
3:00 p.m. - 3:30 p.m.
IX. Model Foreign Limited Liability Co.
Asset Protection Strategy
A. Nevis Limited Liability Company Act
B. Nevis LLC Membership, Management And Capitalization
C. Role Of U.S. Limited Liability Company
D. Fraudulent Transfer And Charging Order Benefits
E. Tax Matters
3:30 p.m. - 4:15 p.m.
X. Asset Protection Planning
Limitations And Conditions
A. The Uniform Fraudulent Transfer Act (UFTA) And Its Ohio Equivalent
4:15 p.m. - 4:45 p.m.
XI. Introducing Clients To Asset
A. Asset Protection Planning And Estate Planning Integration
B. How To Identify Client Asset Protection Planning Needs
C. Attorney Liabilities
D. Ethical Duties To Clients And Third Parties
4:45 p.m. - 5:00 p.m.
XII. Questions And Answers