Category Archives: Asset Protection

Tax Planning For Divorce

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Taxation of Grantor Trusts

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Peering Through the Legal Prism: When Asset Protection Becomes Fraudulent

VIEW IN PDF:  Tax News & Comment — August 2011 I.  Introduction English law addressing fraudulent conveyances dates back to the early Middle Ages. The first comprehensive attempt to prohibit such transfers appeared in the Fraudulent Conveyances Act of 1571, … Continue reading

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Tax News & Comment — May 2013

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Tax Planning For Divorce

   I.   Introduction.  In an action for divorce, property is subject to “equitable distribution” pursuant to Domestic Relations Law (DRL) §236. New York distinguishes between “marital” property, which is subject to equitable distribution, and “separate” property, which is not. The … Continue reading

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IRS Ruling Provides Basis for Asset Protection Trust in Nevada

I.    Tax & Asset Protection Benefits of PLR 201310002.   New York imposes among the highest level of income tax of all states. New York City residents pay even more tax for the privilege of residing there. Income is taxed to … Continue reading

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Elder Law Planning: Deciphering the Puzzle

View in PDF:  Tax News & Comment — February 2013 Elder Law Planning:  Deciphering the Puzzle I.       Social Security The Social Security program, begun during the Great Depression under President Roosevelt, is the forerunner of Medicare and Medicaid. The … Continue reading

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