A pre-recorded streaming VIDEO replay of one session from the April 2013 live seminar, 34th Annual Advanced Estate Planning and Administration Seminar.
When insurance is not sufficient or offers no coverage, where does the common man find creditor protection? Some safe harbors may include entirety ownership of real estate, the corporate veil, limited liability company charging order regime, discretionary trusts, disclaimers, even bankruptcy. But what of the special creditor situations such as Medicaid eligibility, IRS liens, fraudulent conveyances, transfers made with unclean hands — these present a perennial challenge.
Some assets — IRAs, 401(k)s, life insurance proceeds — are beyond reach; others are low-hanging fruit. Not all LLCs or trusts are created equal and the lawyer must know the difference. He must know more than that at the risk of being subject to an action for civil conspiracy if he assists a client to perpetrate a conveyance that is fraudulent. The common man and his counsel both may need asset protection.