Engel on Asset Protection Planning 2010: Part 1: Conceptualizing, Designing and Drafting the Overall Plan; Overview of Underlying Principles; Case Study

Part II of the series.

Part III of the series.

Asset protection practitioners need to be well-versed in the relevant core concepts before endeavoring to assist their clients with a plan’s design and implementation. In the first of his new 3-part series, Barry Engel provides an in-depth introduction to the conceptual design and implementation of a client’s overall integrated estate plan. Areas of discussion include:

• balancing protection with flexibility 
• how much of the client’s overall estate should one set out to protect 
• an overview of available integrated estate planning techniques
• whether an integrated estate planning trust (“IEPT”) should stand alone or be integrated with the client’s overall estate plan
• the trustee selection process, and whether an IEPT’s settlor(s) should act as the protector(s) of the IEPT
• a comparison of domestic trusts versus foreign trusts for both asset protection and U.S. tax purposes
• a comparative analysis of which domestic and foreign jurisdictions are more protective for asset protection purposes 
• the federal and foreign tax implications of a model asset protection plan.

A model planning structure will be presented and reviewed as a case study.

Barry S. Engel, Esq., a principal in the firm Engel & Reiman pc, is the lead author of the Asset Protection Planning Guide: A State-of-the-Art Approach to Integrated Estate Planning (CCH). For information concerning the Second Edition of his Asset Protection Planning Guide, or to purchase, click on http://www.engelreiman.com/apguide.html. Mr. Engel, a Senior Fellow of The Estate and Wealth Strategies Institute at Michigan State University and a Fellow of the National Network of Estate Planning Attorneys, has chaired or otherwise addressed hundreds of professional and client conferences worldwide on integrated estate planning, asset protection planning and related subjects.

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