Asset Protection...The Ultimate IPO (Inheritance Protection Offering)
As professionals – attorneys, accountants, financial advisors/consultants, wealth management, insurance, and investment professionals – throughout our careers, before the current landscape of a massively increased federal exemption, the long-time focus for estate planning was traditionally to save estate taxes. However, we have a drastically different world today. We have an increased federal exemption, and many states have repealed estate/inheritance taxes – even here in New Jersey as the NJ Estate Tax has been repealed. In short, “taxes” are less of a concern for most people. The number of people who are subject to federal estate tax has gotten much smaller.
For some professionals, the focus has shifted to both federal and state income tax planning. Although savings taxes will always be relevant, one of the major concerns that have not changed is asset protection. The term asset protection can be misleading. What does it really mean? More “estate plans” have become non-tax driven estate plans. Yet, they still need to include and properly address protecting our client’s assets and wealth. How do we protect Marital claims, professional liability issues, tort liability, business downturns, and personal tax liability? All of these and more are issues that need to be addressed.
Asset protection should be considered whenever you discuss estate planning with your client, not only to protect the assets for their beneficiaries but to protect it for themselves as well:
• What are the protections offered holding property as tenants by the entirety?
• Are retirement assets really protected from potential creditors?
• How can life insurance provide asset protection benefits?
• Should your client consider forming an asset protection trust?
• What can your client do if he thinks he has a potential problem?
All of this and more is going to be presented in this presentation.
Do not miss this exciting event with Kenneth R. Cohen, Esq. and Dean G. Sutton, Esq. – two leading experts in this very important arena. They are going to give us a comprehensive education and presentation on what we need to be doing for our clients. This is going to be a “Don’t Miss” event!