Asset Protection
Beware of Federal Super Creditors
Is there such a thing as bulletproof asset protection against federal claims? Many estate planners say and advise their clients to use or rely on certain...
Don't Be Foolish
In 2009, asset protection specialists watched a major Internal Revenue Service drive to flush out secret foreign bank accounts while a financial crisis...
Tax Law Update
Despite her sole discretion over a trust, a decedent did not possess at the time of her death a general power of appointment over property in the trust....
You Already May Be An Asset Protection Lawyer
The mere words asset protection make some lawyers wince.1 They think asset protection is dirty and those engaged in it are the ambulance chasers of the...
Florida Surprise
To stop individuals who are on the verge of filing for bankruptcy from moving their wealth to states with laws that might better help them keep their...
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Elder Law
Long-term Care Is Critical
Perhaps the greatest development in the world of elder care and special needs law during 2009 was the lack of any real development. With the national...
The Good and the Very Bad
Elder law experienced no cataclysms in 2008. But significant trends emerged and public benefits planning continued to mature. First, the good news: Medicaid...
A Senior Trust
Often, estate planners and elder law attorneys are faced with the challenge of trying to protect an aging client who's gradually descending into dementia...
Planning for Clients With Multiple Sclerosis
About eight months ago, my wife was diagnosed with multiple sclerosis (MS). We immediately started to learn everything we could about the disease, so...
Throw Mama From the Train
It just got harder to be old and anything short of wealthy. Chapter 2 of the new Deficit Reduction Act of 2005 (DRA) focuses exclusively on long-term...
Practice Development
It's Personal
As estate-planning attorneys, we often find ourselves forced to act as family counselors for our clients despite our lack of formal training for this role...
Jenkens & Gilchrist: Another Shoe to Drop?
When Jenkens & Gilchrist, the 56-year-old national law firm based in Dallas, closed its doors for good in March of 2007, it also seemed to mark the end...
New Customers For Alternative Investments
A recent ruling by the Securities and Exchange Commission has made it easier for private foundations organized as not-for-profit corporations with at...
Practice Professionally
A lot of advisors, even the most reputable, groan when the word is uttered. Let's talk ethics, is like being told, Let's eat steamed broccoli. Sure, it's...
Lawyers' Group Protests The Appraiser Penalties
The Pension Protection Act of 2006 (PPA)1 imposes new penalties on appraisers that are deemed to have made substantial or gross valuation misstatements....
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International Law
Is 2009 the Year That Bank Secrecy Died?
The IRS' success against UBS AG seems to be the famed butterfly in the rainforest that causes gigantic ripples across the world. The campaign against...
Gift Tax Cost Depends On Form and Substance
When it comes to the tax cost of a lifetime gift of property, estate planners often focus on the gift taxable value of the transferred asset and, to that...
Do Your Clients Still Have Hidden Foreign Accounts?
The events of the past year make it clear that the U.S. government has launched an unprecedented assault on taxpayers who hide their assets in offshore...
FBAR Problems And Proposed Solutions
The Internal Revenue Service's recent efforts to enforce the reporting of foreign bank accounts has created a lot of confusion for many people. This is...
What's a Fideicomiso?
Any professional who serves high-net-worth clients eventually comes face to face with a Mexican fideicomiso (pronounced fee-day-kah-mee-so)...
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Ethics
Nailing the Lawyer For His Debtor-Client's Sins
So what exactly are fraud, fraudulent conveyance, deceit and fraudulent transfer and when are attorneys accountable? Being a trustee entails risk of personal...
DAF Kickbacks
An unethical practice is widespread among charities with donor-advised fund (DAF) programs. Financial advisors1 benefit financially from promoting and...
