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Asset Protection: Creative Ways to Keep What's Yours
Danny Santucci
Copyright© 2011

Course: 8112138   Version 1105

NASBA Category:     Taxes     CPE Credits 2
CTEC Credits: 2 Federal / 2 California
Level: Overview  (74 pages)
Prerequisite: There are no prerequisites.
Advance Preparation: None
IRS Program Nbr: 0MYXB-T-00020-12-S





Course Description
The current litigation explosion has created tremendous interest in asset protection. This area has dramatic financial and estate ramification and also directly impacts tax planning. This minicourse is designed to survey opportunities for asset protection that can arise during tax planning and to determine how to properly report such transactions. Author Danny Santucci clears up some of the common misconceptions about asset protection and gives useful advice you can use to help your clients avoid fraudulent transfers.

This course includes an addendum that covers the 2013 fiscal cliff legislation.

Western CPE has been approved by the California Tax Education Council to offer Course Title (2071-CE-0076), which provides 2 hours of federal credit and 0 hours of state credit towards the annual “continuing education” requirement imposed by the State of California. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, toll-free by phone at (877) 850-2832, or on the Internet at www.ctec.org.


Table of Contents

Learning Objectives
Upon successful completion of this course, participants will be able to:
  • Clear up misconceptions about and state the main reasons for asset protection warn clients about fraudulent transfers and structure asset protection planning transfers so that they are not fraudulent, help your client with setting goals associated with undertaking asset protection measures, and explain how life insurance can be used as an asset protection vehicle.
  • Advise your clients on how the various types of entities relate to asset protection and how the various types of joint ownership of property and various trusts directly impacts asset protection and tax liability.
  • Distinguish between the concepts of common law property, community property, and equitable and which states base distribution laws on those concepts, apply asset division principles, and demonstrate a working knowledge of premarital and post-nuptial agreements and how they can be used to advise clients on individual asset protection.
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