-
Articles & Seminar Materials
- June 5 NYS Tax Litigation Seminar: Completion Certificate June 2, 2025
- June 5 NYS Tax Litigation Seminar — Outline May 31, 2025
- June 5 Tax Litigation Seminar — Supplementary Materials May 14, 2025
- June 5 CPE Seminar: NYS Tax Litigation — Practice & Procedure April 28, 2025
- March 13 CPE Seminar: Supplementary Materials March 4, 2025
- Income Taxation of New York Trusts & 2025 Planning Strategies March 4, 2025
- Webinar Recording of 1031 Final Regulations Seminar January 16, 2025
-
Natural Language Search
Search by Category
Most Popular
- Executor and Trustee Commissions Under NY EPTL
- Distributable Net Income and Income in Respect of a Decedent
- Welcome
- Defeating The Right of Election in EPTL § 5-1.1-A
- Challenging The Account of a Fiduciary
- Current Estate Planning Trends (January 2000)
- Wash Sales
- Use of Disclaimers in Pre and Post-Mortem Estate Planning
- Avoiding Boot Gain in Like Kind Exchanges
- Defining the Scope of Trustee Powers
Category Archives: Asset Protection
Importance of Trusts in Estate Planning & Asset Protection
A trust beneficiary possesses an equitable interest, but not legal ownership, in trust property. Creditors of a trust beneficiary therefore cannot generally assert claims at law against the beneficiary’s equitable interest in trust assets. However, under common law, a settlor … Continue reading
ASSET PROTECTION: ETHICAL CONSIDERATIONS
New York County Surrogates Court, in In re Joseph Heller Inter Vivos Trust, 613 N.Y.S.2d 809 (1994), approving a trustee’s application to sever an inter vivos trust to “insulate[] the trust’s substantial cash and securities from potential creditor’s claims that could arise from the trust’s real property, observed that “New York law recognizes the right of individuals to arrange their affairs so as to limited their liability to creditors, including the holding of assets in corporate form . . . making irrevocable transfers of their assets, outright or in trust, as long as such transfers are not in fraud of existing creditors.” Continue reading
Delaware Dynasty Trusts
Traditionally, trusts were viewed primarily as a means to protect immature or dysfunctional beneficiaries from themselves. Traditional trusts typically terminated when a minor child attained a certain age. Dynasty Trusts, on the other hand, seek to maximize all of the benefits of the trust arrangement, which include asset protection and tax savings, as well as the traditional objective of protecting immature or spendthrift persons. In fact, the Dynasty Trust can serve as the centerpiece of an estate plan. Continue reading
Asset Protection; Avoiding Fraudulent Transfers
One of the simplest methods of protecting assets from potential creditors is transferring title to the marital home to one’s spouse. Creditors of the transferring spouse will thereby be precluded from making claims against the house. When making large transfers … Continue reading
Posted in Asset Protection
Tagged asset protection, charging order, fraudulent transfers, offshore trusts
Leave a comment
TAX PLANNING FOR DIVORCE: PART II
Tax planning in the context of divorce requires familiarity with IRC §§ 71 and 1041, the first of which governs the taxation of alimony (support) payments and the second of which sets forth the general rule of nonrecognition with respect … Continue reading
Posted in Asset Protection, Divorce
Leave a comment
