Engel on Asset Protection Planning 2010: Part 2: Day-To-Day Operations of the Plan; Administration to Maintain the Plan's Integrity

Part I of the series.

Part III of the series.

Asset protection practitioners, their clients, and their client’s trustees need to understand how to properly fund and then administer an integrated estate planning trust (“IEPT”) on a day-to-day basis in order to assist with maintaining the plan’s integrity in the event the plan is ever challenged, whether in litigation or otherwise. In the second of his new 3-part series, Barry Engel covers the following topics:
• federal and foreign tax compliance and reporting
• anti-money laundering compliance
• trustee and third-party due diligence
• documenting property transfers
• the differences between, and properly documenting, outright distributions and loans
• the payment of taxes due on phantom income from an IEPT
• whether real estate should be held in an integrated estate planning structure
• advising on where in the overall structure title to property should be transferred
• refinancing mortgages
• suggestions on how to protect one’s professional practice or operating business as part of the overall integrated estate plan
• the creation of additional trusts by already-existing IEPTs
• annual meetings of trustees and advisors

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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