Asset Protection Planning - Current Strategies and Pitfalls
Year: 2005
Type: preprint
Abstract: Some commentators have claimed that offshore asset protection trusts are dead. Others continue to expound moral and ethical reasons why they should be outlawed (or at least disregarded). And with the recent passage of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (the Act), legislators have demonstrated an unease with such strategies. Yet, a careful analysis of legislative history and court decisions may suggest simply that asset protection planning, when effected well in advance of the appearance of creditors' claims, and without fraudulent intent, is still a viable objective that should be considered by many high net worth individuals. An understanding of recent developments in this area will assist the planner and client to understand the risks and opportunities that should be considered prior to recommending and implementing a strategy.
Source: SSRN Electronic Journal
Author: Gideon Rothschild
Language: English
Subfield: Accounting
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W2255165152