Review: A Guide to Asset Protection: How to Keep What’s Legally Yours
March 29th, 2011 Filed under: Small Business Bankruptcy — Bankruptcy Author
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How to shield your assets from creditors and other claimants.
You’ve worked long and hard for your assets, from your business and home to hard-earned savings and investments. To safeguard themparticularly against liability suits, “America’s number one indoor sport”A Guide to Asset Protection offers proven strategies to help you keep what you may have spent a lifetime earning.
Written by an attorney who specializes in tax-, estate-, and asset protection planning, this indispensable reference is filled with sound advice and practical tips on how to avoid the litigation jungle, as well as revealing insight on how creditors find and get at your assets. Actual case histories and model agreements steer you through the essentials, including:
- Protection through trustsirrevocable trusts and gift taxes, life insurance trusts, foreign asset protection trusts (FAPTs).
- Fraudulent conveyancesthe laws of fraudulent transfers, what fraudulent conveyance is (and is not).
- Asset protection for married couplesseparate and community property, transmutation agreements.
- Using family limited partnershipslimited liability companies.
- Employing qualified retirement plansanti-alienation rule, nonqualified retirement plans, individual retirement accounts (IRAs).
- Filing bankruptcy to protect your assetsdischargeable taxes, pre-bankruptcy planning, Chapter 7 and Chapter 13.
Review:
As an attorney who considers himself pretty well versed in the content of this book, I read the book with an intent to review an area of the law I had not practiced in a while. The book was a pleasant surprise to me. The explanations given by Mr. Klueger were accurate and well written in terms anyone would understand, even an old salt lawyer like me. I would highly recommend this book to anyone who wants to learn the nuts & bolts of asset protection strategies, even before the reader goes to his lawyer to discuss his own concerns. The form for a family limited partnership in the back of the book is handy and good reading as an example. I only wish Mr. Klueger had included some additional forms for the various stratagies mentioned in the book. Overall, I’d give it a "well done!"
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