Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 07 JUNE 2017

Asset Protection Planning Steps You Should Consider Now

Ward and Smith, P.A
Explore more from Ward and Smith, P.A

Is the federal estate tax law going to change or be abolished under the Trump administration? Time will tell. One thing is certain: tax laws may change but the litigious nature of our society...

United StatesWealth Management
Virginia Carter
Virginia Carter

Is the federal estate tax law going to change or be abolished under the Trump administration?  Time will tell.  One thing is certain: tax laws may change but the litigious nature of our society is not going away.  Asset protection planning is a key motivator for many of our estate planning clients. 

We hear scenarios over and over again in which a client has injured someone in an accident, is being sued for malpractice, is involved in a business dispute, owns rental property where someone was injured, or has a child in the middle of a divorce and custody dispute.  What can you do to protect your or your family's assets if you become one of those unfortunate people?

Having this conversation in the wake of an incident or accident when a lawsuit is looming is less than ideal.  Steps taken only then and deliberately intended to frustrate a known creditor almost certainly will be challenged as a fraudulent transfer and, if successful, will be voided by a court. 

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

View source

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

See more popular content from

Article

The Great Wealth Transfer: What An $84 Trillion Shift Between Generations Means For Your Estate Plan

As the Silent Generation and Baby Boomers prepare to transfer an estimated $84-90 trillion in wealth over the next two decades, families face critical decisions about estate planning, tax strategies, and asset protection. This comprehensive analysis explores how changing tax laws, evolving family structures, and complex asset portfolios require thoughtful planning to preserve wealth across generations while avoiding unnecessary taxes, legal disputes, and family conflicts.
United StatesWealth Management
Conn Kavanaugh Rosenthal Peisch & Ford LLP
Conn Kavanaugh Rosenthal Peisch & Ford LLP
Article

Using Offshore Trusts For Private Equity Investments And Wealth Preservation

High-net-worth individuals and private equity investors increasingly explore offshore trusts as sophisticated wealth planning tools that may provide enhanced asset protection, investment management flexibility, and multigenerational wealth preservation. Understanding the strategic benefits, tax implications, and compliance requirements of these complex structures is essential for entrepreneurs, executives, and families seeking to protect significant holdings while maintaining appropriate control and meeting
United StatesWealth Management
MGO CPA LLP
MGO CPA LLP
Article

Navigating Florida’s New Trust, Probate And Series LLC Statutes

Florida has enacted significant statutory changes affecting trust administration, probate procedures, and business entity formation. These reforms introduce streamlined nonjudicial processes for trustee discharge, expand access to simplified probate administration, and establish a new framework for protected series LLCs that offers enhanced asset protection and operational flexibility for estate planners and business owners.
United StatesWealth Management
Withers LLP
Withers LLP
Article

The Creator Economy Meets Estate Planning: Protecting And Transferring Digital Businesses

As the creator economy continues to expand, individuals who derive income from digital platforms face a critical estate planning question. For those who already have an estate plan, that plan may not adequately address the unique challenges of managing, valuing and transferring digital businesses, leaving these increasingly valuable assets vulnerable to confusion, lost revenue and family conflict.
United StatesWealth Management
Wiggin and Dana LLP
Wiggin and Dana LLP
Article

Trump Administration’s New Section 301 Tariffs Reach Nearly All U.S. Imports

On July 23, 2026, the Office of the United States Trade Representative imposed new Section 301 tariffs on imports from 60 trading partners, affecting approximately 99.4% of U.S. imports. The tariffs, ranging from 10% to 12.5% depending on the country, aim to pressure foreign governments to strengthen controls on forced-labor imports, with different calculation methods for the European Union, Taiwan, Japan, South Korea, and Switzerland. The action creates significant implications for U.S. supply chains, with
United StatesInternational Law
Ward and Smith, P.A
Ward and Smith, P.A
Article

Water Rates Are Becoming The Next Utility Affordability Flashpoint

Water utility bills are rising faster than electricity rates across America, driven by aging infrastructure, stricter regulations, and system consolidations. This analysis examines why investor-owned water utilities in North Carolina are experiencing accelerating rate increases and explores the legal, economic, and affordability challenges facing regulators and low-income households.
United StatesEnergy and Natural Resources
Ward and Smith, P.A
Ward and Smith, P.A
Article

WOTUS 2026: The Pendulum Swings Narrower Still As Agencies Supplement Their Proposal

The Environmental Protection Agency and U.S. Army Corps of Engineers have issued a supplemental proposal that would dramatically narrow the definition of federally regulated waters under the Clean Water Act, requiring perennial flow for tributaries and year-round surface water connections for wetlands. This September 2026 proposal responds to public criticism of earlier standards and could exclude many intermittent streams and seasonal wetlands from federal jurisdiction. Stakeholders have until October 9, 2
United StatesEnvironment
Ward and Smith, P.A
Ward and Smith, P.A
Article

After Learning Resources: Liquidation, Protests, And IEEPA Tariff Refunds

U.S. Customs and Border Protection has announced October 6, 2026, as the launch date for Phase 3 of its IEEPA tariff refund system, allowing plaintiffs with Court of International Trade reliquidation orders to submit older entries for processing. This development follows the Supreme Court's decision in Learning Resources, Inc. v. Trump, which invalidated the IEEPA tariffs, but the refund process depends on complex customs liquidation rules...
United StatesInternational Law
Ward and Smith, P.A
Ward and Smith, P.A