Ethics Credits Included:
A pre-recorded streaming VIDEO replay of the September 2013 webcast, Asset Protection Planning: Kicking the Tires Sixteen Years After Domestic Asset Protection Trusts Made Their Public Debut in 1997.
Topics covered include:
- Basic Forms of Asset Protection Strategies
- The Use of Family Limited Partnerships and Limited Liability Companies for Asset Protection
- The Ethical Concerns Facing Practitioners in Advising on Asset Protection
- Are Offshore Trusts All That They Are Often Made Out to Be?
- How Effective Are Domestic Asset Protection Trusts?
- Recent Attacks on Domestic Asset Protection Trusts
- The Estate, Gift, and Income Tax Consequences of Domestic Asset Protection Trusts
- The Future of Asset Protection Trusts
Domestic asset protection trusts first became publicly known in 1997 when Alaska and Delaware enacted laws permitting them. Now 14 states, including Virginia, permit domestic asset protection trusts. This program will examine and compare the different types of asset protection strategies that are now available. It will enable practitioners to understand the advantages and disadvantages of each technique and whether a technique is appropriate for a client.
Charles D. (“Skip”) Fox IV, McGuireWoods LLP / Charlottesville
Skip Fox is the chair of McGuireWoods’ private wealth services team. His extensive experience includes estate planning, estate and trust administration, and work with charitable organizations. He works with clients regarding planning for families with closely held businesses, including ownership succession issues; the use of family limited partnerships, limited liability companies, and other techniques to transfer wealth at significantly reduced transfer tax costs; and counseling on the appropriate uses of family offices.
Mr. Fox has contributed articles to many publications, including Trusts & Estates, Estate Planning, Trusts & Trustee, and the Journal of Asset Protection. He is the author of the Estate Planning with Life Insurance volume of the CCH Financial Planning Library, and co-author of the books Estate Planning Manual (2001 edition), Fiduciary Law and Trust Activities Guide, and Tax Law Guide, all published by the American Bankers Association.
Mr. Fox lectures annually around the country at numerous seminars on estate planning and trust administration topics for banks, trust associations, estate planning councils, tax institutes, bar associations and other organizations, including the University of Miami Heckerling Estate Planning Institute.