Learn how to shelter your assets from claims of plaintiffs and creditors. Whether you were involved in a car accident, defaulted on a personal guaranty, have been sued by a business partner, an ex-spouse or are being pursued by a government agency, you can and should protect your assets. Whatever you have, is everything that you have. You have struggled all your life to accumulate your wealth, make sure you don't lose.
We'll review planning strategies and solutions, including planning with community property, business entities and domestic and foreign trusts, as well as look at how to protect assets in a troubled economy from lenders and landlords holding personal guarantees. Also, you'll learn various ways to protect common assets, such as houses, bank and brokerage accounts, businesses and professional practices and retirement plans.
Course materials include real-life case histories and anecdotes that illustrate the effectiveness of various structures.
This is an integral course for any CPA with an estate planning or high-net worth planning practice.
Identify specific planning and structuring techniques.
Recall underlying substantive law and its practical application.
Determine how and when to implement each structure and for what type of asset and client.
Recognize community and separate property assets and the use of business entities, trusts, equity strips, installment sales to insiders, etc.
Protecting assets: houses, rental properties, bank accounts and retirement plans
Planning before and after lawsuits
Using business entities, including domestic and foreign corporations, LLCs and limited partnerships
Planning for married couples and community property
Picking correct entities and jurisdictions, including a discussion of series LLCs
Domestic and foreign asset protection trusts
CPAs, attorneys, financial planners, real estate investors and business owners.
Basic knowledge of business entities, income, estate and gift taxes.
Advanced Prep: None
Speaker: Jacob Stein Esq., JD, LLM
Field of Study: Tax
CPE Credit: 8 Hours
Meet the Speaker:
William F. O'Brien, MBA, CPA, is a financial management consultant and educator with over 35 years of experience. He has held senior financial management positions with Intel and ROLM and served as CFO for several emerging high technology companies. Mr. O'Brien has extensive experience in corporate planning, control, financial analysis, cash management, and managerial accounting in both domestic and international settings. He is on faculties of Santa Clara University and San Jose State University. He received the Foundation's Award for Instructor Excellence in 1994.