ASSET PROTECTION PLANNING GUIDE

Transcription

1 ASSET PROTECTION PLANNING GUIDE 3rd Edition BARRY S. ENGEL Wo Iters Kluwer CCH

2 V Table of Contents CHAPTER 1 WHAT IS INTEGRATED ESTATE PLANNING AND ASSET PROTECTION PLANNING? Overview What Is Integrated Estate Planning and Asset Protection Planning? Definition of Asset Protection Planning Why Asset Protection Planning? Goals of Asset Protection Planning The Foundations of Integrated Estate Planning Engel Ladder of Asset Protection Planning Tools The' Engel Maxims of Asset Protection Planning What Asset Protection Is Not Does Asset Protection Work? Definition of Asset Protection Planning 115 Why Asset Protection Planning? 125 Expanding Theories of liability Concerns Over High Jury Awards Concerns with Traditional Forms of Protection Jury of One's Peers Deep-Pocket Syndrome Once You've Been Sued, You've Lost Goals of Asset Protection Planning 135 Create a User-Friendly Plan Deter litigation Provide Incentive for an Early and Cheap Settlement Level the litigation Playing Field Enhance One's Bargaining Position Provide Options as the Game Is Played Win the Game Foundations of Asset Protection Planning 145 The Engel Ladder of Asset Protection Planning Tools 155 The Engel Maxims of Asset Protection Planning 165 Better to Look Ahead and Plan Than to Look Behind and Regret Asset Protection Planning Should Be a Way of life, Not a Reaction to a Problem

3 vi Asset Protection Planning Guide Asset Protection Planning Is a Vaccine, Not a Cure Don't Sweat the Last Three Percent Hope the Asset Protection Plan Will Prove to Be a Waste of Time and Money There Is No Such Thing as the Perfect Offshore Financial Center There Is No One "Right" Way to Design an Asset Protection Plan If You Can Reach Your Assets, So Can Your Creditors Once You've Been Sued, You've Lost The Golden Rule What Asset Protection Planning Is Not 175 Not an Excuse or Vehicle for Evading Taxes Not Based on Hiding Assets Not an Excuse to Defraud Creditors Does Asset Protection Planning Work? 185 CHAPTER 2 ASSET PROTECTION PLANNING AND FRAUDULENT TRANSFERS Overview Asset Protection Planning and Fraudulent Transfer Law 201 Fraud vs. Fraudulent Transfer Is the Transfer a Fraudulent Transfer? Categories of Creditors and Their Remedies The Threshold Fraudulent Transfer Question in Asset Protection Planning Fraud vs. Fraudulent Transfer 215 Fraud Fraudulent Transfers Fraud Compared to Fraudulent Transfer Is the Transfer a Fraudulent Transfer? 225 Actual Intent to Hinder, Delay, or Defraud Any Creditor Constructively Fraudulent Transfers A Case Study in Actual Fraudulent Intent and Constructively Fraudulent Transfers Fraudulent Conveyances in the Bankruptcy Setting Categories of Creditors and Their Remedies 235 Present Creditor Subsequent (Future) Creditor Future Potential Creditor The Threshold Fraudulent Transfer Question in Asset Protection Planning 245

4 Table of Contents vi i CHAPTER 3 GIFTING AS A PLANNING TOOL Overview Gifting as a Planning Tool 301 Gifts to Someone Other than a Spouse Gifts to a Spouse Gifting Through Trusts Gifts to Someone Other Than a Spouse 315 Loss of Control Donee's Change of Circumstances Gift Tax Consequences Gifts to a Spouse 325 Loss of Control Spouse Subject to a Lawsuit The Gift May Be Considered Nonmarital Property in the Event of Divorce Doctrine of "Resulting Trust" Community Property Loss of Double Step Up in Basis on Death Danger of Secret Side Agreements Gifting Through Trusts 335 CHAPTER 4 JOINT OR CONCURRENT OWNERSHIP AS A PLANNING TOOL Overview Joint or Concurrent Ownership as a Planning Tool Joint vs. Separate Debt Types of Property Types of Joint Ownership Joint vs. Separate Debt 415 Types of Property 425 Types of Joint Ownership 435 Tenancy in Common Joint Tenancy (with Right of Survivorship) Tenancy by the Entirety Community Property CHAPTER 5 EXEMPTIONS AS A PLANNING TOOL Overview Exemptions as a Planning Tool 501 Planning Considerations Bankruptcy Exemptions Important State Exemptions The Bankruptcy Abuse Prevention and Consumer Protection Act of Planning Considerations 515 Certain Creditors Not Subject to State Exemptions Conversion of Property vs. Transfer of Property Fraudulent Conversion

5 viii Asset Protection Planning Guide Exemptions Are Not Cast in Stone Bankruptcy Exemptions 525 Important State Exemptions 535 Prerequisites for Exemptions Homestead Exemption Case Law on Homestead Exemption Exemption for life Insurance and Annuity Contracts Wage and Earnings Exemptions Nonwage Income Exemptions Exemptions for Personal, Household, and Other Possessions Section 529 Plans Bankruptcy Reform (2005) 545 The Homestead Exemption Personal Property Exemption Exemption for life Insurance and Annuities... ' Exemption for Retirement Benefits Exemption for Qualified State Tuition Programs CHAPTER 6 FOREIGN INSURANCE AND ANNUITIES IN ASSET PROTECTION PLANNING Overview Foreign Insurance and Annuities in Asset Protection Planning 601 Foreign Insurance and Annuities Protected Under a Foreign Jurisdiction's Laws Swiss Insurance and Annuities Protective Statutes Creditor Access to Swiss Insurance and Annuities Not a Full "Plan" In and of Itself Protected Insurance and Annuities as Part of an Overall Integrated Estate Plan Pros and Cons Foreign Insurance and Annuities Protected Under a Foreign Jurisdiction's Laws 615 Swiss Insurance and Annuities Protective Statutes 625 Creditor Access to Swiss Insurance and Annuities 635 Protected Insurance and Annuities as Part of an Overall Integrated Estate Plan Pros and Cons 645 CHAPTER 7 INSURANCE AS A PLANNING TOOL Overview Insurance as a Planning Tool 701 General Business Insurance Policies Professional Liability Insurance Policies Personal liability Insurance Policies Asset Protection Planning Captive Insurance Companies

6 Table of Contents ix General Business Insurance Policies.* 715 Events Outside the Scope of Employment Intentional Torts by an Owner or Employee Claims by a Member of a Protected Class Contract Claims Working at Home Director liability, Charitable Activities, or Homeowner Associations Professional Liability Insurance Policies 725 Grossly Negligent Acts Willful or Wanton Misconduct and Punitive Damages Strict Product liability Employee Must Be Specifically listed Impact of the Insurance Company's Financial Woes Personal liability Insurance Policies 735 Automotive Insurance Policies Umbrella Insurance Policies Homeowner Insurance Policies Asset Protection Planning 745 Captive Insurance Companies 755 Section 501(c) (15) Company Premium limitation and Income Tax Exclusions Deductibilty of Premiums Paid to the Section 501(c) (15) Company Estate Planning Offshore Companies Foreign Corporation Income Tax Issues Reduction in Premiums Conclusion CHAPTER 8 FAMILY LIMITED PARTNERSHIPS AND LIMITED LIABILITY COMPANIES AS PLANNING TOOLS Overview Family limited Partnerships and limited liability Companies as Planning Tools 801 Charging Order Protection Phantom Income to Judgment Creditor Charging Order as Sole Remedy Asset-Level Tax Pitfalls Partnership Level Tax Pitfalls Divorce Issues Charging Order Protection, Real Estate, and Other Nonliquid Assets

7 X Asset Protection Planning Guide Corporate Ownership of General Partner's Interest The Limited Liability Company and Other "Progeny" of the limited Partnership Foreign limited Liability Company Alternatives Charging Order Protection 815 Revised Uniform Partnership Act Origin of Charging Order Protection Control of the Family Limited Partnership Short-Term Asset Protection Tool Phantom Income to Judgment Creditor 825 Charging Order as Sole Remedy 835 Sole Remedy by Case Law Sole Remedy by Statute Foreclosure Sale of the limited Partnership Interest Sham, Alter Ego, or Agent of the Partner Assets with Negative Tax Consequences 845 S Corporation Stock Annuities Personal Residence Partnership Tax Pitfalls 855 Investment Company Pitfall Net Debt Relief Greater Than Basis Issue Distribution of Marketable Securities Issue Divorce Issues 865 Charging Order Protection, Real Estate, and Other Nonliquid Assets 875 Corporate Ownership of General Partner's Interest 885 The Limited liability Company and Other "Progeny" of the limited Partnership 890 Charging Order Protection Federal Tax Issues Relevant to an LLC The Single Member LLC Panacea or Pandora's Box? Series limited liability Companies Foreign Limited liability Company Alternatives 895 Advantages of a Foreign limited liability Company Disadvantages of a Foreign limited liability Company Developments With Respect to Foreign limited Liability Companies

8 Table of Contents xi CHAPTER 9 TRUSTS UNDER STATE LAW FOR ASSET PROTECTION PLANNING Overview Trusts Under State Law for Asset Protection Planning 901 Background of the Trust The Uniform Trust Code Theories for Recovery Against a Domestic Trust Spendthrift Trusts Self-Settled Spendthrift Trusts Beneficiary Favored Trusts Background of the Trust 905 The Uniform Trust Code 915 Overview Summary of Code Provisions Uniform Trust Code Sections Applicable to Integrated Estate Planning Trusts Miscellaneous Code Considerations Theories for Recovery Against a Domestic Trust 925 Trust Funded as a Result of a Fraudulent Conveyance Settlor Retains Too Much Control Settlor Retains Too Much of an Interest The Trust Is Something Other Than a Trust Spendthrift Trusts 935 Self-Settled Spendthrift Trusts 945 Introduction Alaska Delaware Nevada Select Nuances of Domestic Statutory Provisions Beneficiary Favored Trusts 955 Introduction Control Independent Co-Trustee Trustee/Beneficiary Creditor Protection Tax Reduction Transfer of Assets to BFT Purchase and Lease of Equipment Business Opportunities Husband and Wife BFTs Offshore BFT

9 xii Asset Protection Planning Guide CHAPTER 10 THE FOREIGN INTEGRATED ESTATE PLANNING TRUST AS A PLANNING TOOL Overview The Foreign Integrated Estate Planning Trust as a Planning Tool 1001 The Case for Foreign Asset Protection Planning Reasons to Use a Foreign Jurisdiction for an Integrated Estate Plan Structure of a Foreign Integrated Estate Planning Trust Misconceptions About Foreign Integrated Estate Planning Trusts Funding and Administration of the Foreign Integrated Estate Planning Trust Structure The Distance Factor Forcing the Final Legal Battle Abroad Selecting a Foreign Jurisdiction Challenges to Integrated Estate Planning Trusts ' Tax Considerations for Foreign Integrated Estate Planning Trusts The Case for Foreign Asset Protection Planning 1015 Reasons to Use a Foreign Jurisdiction for an Integrated Estate Plan 1020 Increased Ability of Settlor to Retain Benefit and Control Foreign Trusts Not Automatic Targets Foreign Trusts Erect Practical Barriers Psychological Barriers Foreign Trusts Are Ultimately More Protective Sovereign Status; No Preemption Principle Structure of a Foreign Integrated Estate Planning Trust 1025 Trustees Protector Beneficiaries Domestic Family Limited Partnership Coordinating the Foreign Integrated Estate Planning Trust with the Estate Plan Planning Structures with Multiple IEPTs and FLPs Location of the Assets Selection of a Foreign Trustee Investing Abroad Settlor Benefits and Control Drafting Considerations Misconceptions About Foreign Integrated Estate Planning Trusts Misconception #1 Transferring Assets Abroad

10 Table of Contents Xiii Misconception #2 Full Control Shifts to a Foreign Party Misconception #3 The Foreign Integrated Estate Planning Trust Is Just for the Very Wealthy Misconception #4 Trust Assets Vulnerable to the Trustee Misconception #5 Changes in the Foreign Jurisdiction's Law Misconception #6 Tax Reporting Requirements Are a Burden Misconception #7 A Few Reported Cases Show Foreign IEPTs Do Not Work Funding and Administration of the Foreign Integrated Estate Planning Trust Structure 1045 Funding the Structure Hot vs. Cool Assets Proper Booking of Contributions Administration of the Foreign IEPT Structure The Distance Factor 1055 More Distance, More Protection Less Distance, Still Highly Protective Forcing the Final Legal Battle Abroad 1065 Protective Measures Fraudulent Transfer Issues The Flight Clause and the Duress Clause Real Estate and Other Immovable Assets Selecting a Foreign Jurisdiction 1075 Statutory Specificity Pros and Cons Comparison of Available Protective Legislation Challenges to Integrated Estate Planning Trusts 1085 Tax Considerations for Foreign Integrated Estate Planning Trusts Income Tax Grantor Trust Foreign or Domestic Trust for Tax Purposes Gift and Estate Tax Reporting Requirements for a Foreign IEPT Foreign Account Tax Compliance Act ("FATCA") CHAPTER 11 COMPARING STATE LAW AND FOREIGN LAW TRUSTS Overview Comparing State Law and Foreign Law Trusts 1101 The Full Faith and Credit Clause of the U.S. Constitution 1115 Supremacy Clause of the U.S. Constitution 1125 Conflicts of Law and Choice of Law Issues 1135 Increased Ability of the Settlor to Retain Benefit and Control 1145 A Foreign IEPT Is Not an Automatic Target 1155 A Foreign IEPT Erects Practical Barriers 1165

11 xiv Asset Protection Planning Guide The Foreign Trust Law Will Be Ultimately More Protective 1175 CHAPTER 12 CHOICE OF LAW AND CONFLICT OF LAW ISSUES Overview Choice of Law and Conflict of Law Issues 1201 A Case Example Which Jurisdiction's Law Will Apply? 1215 Traditional Conflicts of Laws Principles and Restatement (Second) 1225 Personal Property Real Property Departure from the General Rule 1235 Public Policy Considerations 1245 CHAPTER 13 OTHER FOREIGN-BASED PLANNING TOOLS Overview Other Foreign-Based Planning Tools 1301 Hybrid Company In General Hybrid Company and Asset Protection U.S. Income Taxation of a Hybrid Company Contract Hybrid Company Civil Law Foundations In General Civil Foundation and Asset Protection U.S. Taxation of a Civil Foundation Foreign Integrated Estate Planning Trusts vs. Civil Law Foundations Foundations in Common Law Jurisdictions Hybrid Company In General 1315 Control Letter of Wishes Hybrid Company and Asset Protection 1325 Restrictions on Voting Rights of Guarantee Members Restrictions on Transfer of Guarantee Members' Interest Forcing the Final Legal Battle Abroad U.S. Income Taxation of a Hybrid Company 1335 Trust Corporation Partnership Contract Hybrid Company 1345 Tax Benefits Claimed by Certain Trusts and Companies Similar in Design to Hybrid Companies Claims by Some That the Contract Hybrid Company Is Not a Trust Tax Consequences of a Contract Hybrid Company Tax Consequences Comparing the Domestic Contract Trust to the Foreign Contract Hybrid Company

12 Table of Contents XV Civil Law Foundations In General.* 1355 Definition Comparing a Civil Foundation to a Common Law Trust Creation, Funding, and Administration of the Foundation Assets Foundation Council Beneficiaries of the Foundation Rights and Obligations of the Founder Registration Popular Civil Law Jurisdictions and Terminology Civil Foundations and Asset Protection 1365 Permissible Purpose of the Foundation Supervision by Governmental Authorities Control by the Founder and Drafting Considerations U.S. Taxation of a Civil Foundation 1375 Foreign Integrated Estate Planning Trusts vs. Civil Law Foundations 1385 Trusts Are Commonly Found in Civil Law Countries, But Not the Reverse A Common Law Creditor Will Be Unfamiliar with a Civil Foundation Statutory Specificity Under Trust Law Ordre Publique Tax Rates Forced Heirship The Drafting Attorney Becomes the Client Real Estate Located in a Civil Law Country Foundations in Common Law Jurisdictions 1390 Antigua and Barbuda Isle of Man Guernsey Anguilla Cook Islands CHAPTER 14 EXPATRIATION AS AN ASSET PROTECTION TOOL Overview Expatriation as an Asset Protection Tool 1401 Asset Protection Worldwide U.S. Taxation In General "Severing the Eight Tentacles of the Tax Octopus" Tax Exile Taxation for Expatriates in General

13 xvi Asset Protection Planning Guide Expatriation Income Tax Computations and Illustrations Asset Protection 1415 Personal Jurisdiction Depositions and Gathering of Evidence Nonrecognition of U.S. Judgments Foreign Banking Laws Expatriation in Combination with a Foreign Integrated Estate Planning Trust Worldwide U.S. Taxation In General 1425 Foreign Tax Credits "Severing the Eight Tentacles of the Tax Octopus" 1435 Residence Domicile Citizenship Marital Status Income Issues ' Location of Assets x Timing Status of Beneficiaries Tax Exile Taxation for Expatriates in General 1445 Mark-to-Market Taxation Subchapter S Termination Expatriation Gift and Estate Tax Computations and Illustrations 1455 CHAPTER 15 PROTECTION OF RETIREMENT BENEFITS Overview Protection of Retirement Benefits 1501 General Exceptions Depend on Who the Creditor Is State Exemptions In General General Classifications of Plans Welfare Benefit Plans Under the Employee Retirement Income Security Act of Pension Plans Under the Employee Retirement Income Security Act of Plans Not Under the Employee Retirement Income Security Act of Bankruptcy Considerations Asset Protection Planning with Regard to Retirement Plans General Exceptions Depend on Who the Creditor Is 1515 Spouse Internal Revenue Service The Retirement Plan Is the Creditor State Exemptions In General 1525 General Classifications of Plans 1535

14 Table of Contents XVi i Welfare Benefit Plans Under the Employee Retirement Income Security Act of Pension Plans Under the Employee Retirement Income Security Act of Requirements for Protection Under ERISA How Much Protection Is Provided by ERISA? Plans Not Under the Employee Retirement Income Security Act of Bankruptcy Considerations 1575 Bankruptcy Code Section 541 (c)(2) Bankruptcy Code Sections 522(b) (3) (C), 522(d) (10) (E) and 522(d) (12) Inherited IRAs Asset Protection Planning with Regard to Retirement Planning Charging Order Protection Rollover of IRAs into a Qualified Plan Moving the Final Legal Battle Abroad Disqualification of the Plan Treatment of Contributions to and Distributions from the Plan Foreign Grantor Trust Protection of the Plan Assets from Creditor Claims Moving Plan Assets Abroad CHAPTER 16 ETHICAL, CIVIL, AND CRIMINAL CONSIDERATIONS FOR THE ASSET PROTECTION PLANNER Overview Ethical, Civil, and Criminal Considerations for the Asset Protection Planning 1601 Interviewing Prospective Clients Fraudulent Transfer Law Potential Ethical Exposure Potential Civil Liability Bankruptcy Crimes The Money Laundering Control Act Mail and Wire Fraud Racketeer Influenced and Corrupt Organizations Act Miscellaneous Federal Acts U.S. and Worldwide Anti-Money Laundering and Anti-Terrorism Legislation Interviewing Prospective Clients 1615 Fraudulent Transfer Law 1625 Potential Ethical Exposure 1635 Fraud Fraudulent Conveyances

15 xviii Asset Protection Planning Guide Criminal Acts State Ethics Committee Opinions Potential Civil liability 1645 Malpractice Claims Fraud Claims Conspiracy Claims Aiding and Abetting Racketeer Influenced and Corrupt Organizations Act (RICO) Bankruptcy Crimes 1655 Title 18 U.S.C. 152(1) Concealing Property of the Bankruptcy Estate U.S.C. 152(7) Transferring or Concealing Property in Contemplation of Bankruptcy U.S.C. 157 Bankruptcy Fraud The Money Laundering Control Act 1665 The Crime of Money Laundering ' Offenses Specified Unlawful Activities Piggyback on Other Federal Crimes Areas of Particular Concern to the Asset Protection Planner Mail and Wire Fraud 1675 Racketeer Influenced and Corrupt Organizations Act 1685 Miscellaneous Federal Acts 1695 Crime Control Act of Tax Crimes Aiding and Abetting Conspiracy to Defraud the United States Misprision of a Felony Federal Debt Collection Procedures Act The Sentencing Risk U.S. and Worldwide Anti-Money Laundering and Anti-Terrorism Legislation 1699 The Patriot Act Gatekeepers Initiative St Christopher and Nevis Isle of Man Cook Islands Switzerland CHAPTER 17 CONTEMPT OF COURT PRINCIPLES AND ASSET PROTECTION PLANNING Overview Contempt of Court Principles and Asset Protection Planning 1701 Contempt of Court Defined

16 Table of Contents XiX Impossibility of Performance: A Complete Defense Self-Created Impossibility: Not a Defense Asset Protection Planning Principles and Contempt Law Select Cases Involving Asset Protection Trusts and Contempt Rulings Contempt of Court Defined 1715 Impossibility of Performance: A Complete Defense 1725 Self-Created Impossibility: Not a Defense 1735 Asset Protection Planning Principles and Contempt Law 1745 Select Cases Involving Asset Protection Trusts and Contempt Rulings 1755 The Eulich Decision The Anderson Case The Lawrence Case The Bilzerian Case The Grant Case The Solow Case Morris v. Morris CHAPTER 18 TRUST LITIGATION ISSUES Overview Trust litigation Issues 1801 Client Confidences The Work Product Doctrine Conflicts of Interest Dealing with a Subpoena Expect the Unexpected? Service of Process, Jurisdiction, and Related Matters Forum Non Conveniens Comity vs. Deference Cross-Jurisdictional Slippage Hague Conventions Applicable to Foreign Integrated Estate Planning Trusts Prejudgment Attachments Offshore and in the United States Reported Cases Involving Foreign IEPT Challenges Client Confidences 1815 Introduction The Evidentiary Rule and the Ethical Rule Working With Other Professionals Exceptions to the Confidentiality Rule Authorized Disclosure and Distinguishable Situations

17 XX Asset Protection Planning Guide The Work Product Doctrine 1825 Introduction Purpose and Scope The Seminal U.S. Supreme Court Case Categories of Work Product Protection of an Attorney's Mental Impressions Exceptions to Work Product Obtaining the Work Product of a Plaintiffs Attorney to Prove Defendent's Defense Separate Assertion and Waiver Conflict of Interests 1835 Dealing with a Subpoena Expect the Unexpected? 1845 Subpoena/Subpoena Duces Tecum What to Do Once the Subpoena Has Been Served Permission to Produce Documents ' Privilege Log The In Camera Process Service of Process, Jurisdiction, and Related Matters 1855 Basic Concepts Service of Process on and Jurisdiction over Domestic Parties Service of Process on and Jurisdiction over Foreign Parties Trustees and Beneficiaries as "Necessary Parties" to Litigation Trustee Involvement and Costs Disputes Between Beneficiaries to the Same Trust Trustee Costs; Pre-emptive Costs Forum Non Conveniens 1865 Introduction Case Law Comity vs. Deference 1875 Introduction Comity Deference Restatement (Second) of the Law of Foreign Relations Section Cross-Jurisdictional Slippage 1885 Hague Conventions Applicable to Foreign Integrated Estate Planning Trusts 1890 Introduction

18 Table of Contents XXI The Hague Convention on the Service Abroad of Judicial and Extrajudicial Documents in Civil or Commercial Matters The Hague Convention on the Taking of Evidence Abroad in Civil or Commercial Matters The Hague Convention on the Recognition and Enforcement of Foreign Judgments in Civil and Commercial Matters Prejudgment Attachments Offshore and in the United States Mareva Orders (Offshore) Mareva Case Law Challenging a Mareva Order Breaching a Mareva Order Anton Pillar Orders (Offshore) Asset Freezing in the United States Uniform Asset Freezing Orders Act (2012) Impact of Prejudgment Attachments Reported Cases Involving Foreign IEPT Challenges 1899 CHAPTER 19 LEVEL II PLANNING: ASSET PROTECTION FOR THE OPERATING BUSINESS AND PROFESSIONAL PRACTICE Overview Level II Planning: Asset Protection for the Operating Business and Professional Practice 1901 Offshore Trust Settled by an Existing Company Holding Assets in a limited Partnership or limited Liability Company Divisive Reorganization to Segregate Business Components "Equity Strip" to Protect Equity from a Company's Creditors "Sale-Leaseback" of Company Assets Offshore Trust Settled by an Existing Company 1915 Holding Assets in a limited Partnership or limited liability Company 1925 Divisive Reorganization to Segregate Business Components 1935 "Equity Strip" to Protect Equity from a Company's Creditors 1945 "Sale-Leaseback" of Company Assets 1955 APPENDIX PRACTICE TOOLS Overview 10,001 Engel Ladder of Asset Protection Tools 10,020 Uniform Fraudulent Conveyance Act 10,040 Uniform Fraudulent Transfer Act 10,060 Homestead Monetary Exemption Amounts Per State 10,080 Articles 80 and 81 of the Swiss Insurance Act 10,100

19 xxii Asset Protection Planning Guide Partnership Agreement Assignment vs. Substituted Partner... 10,120 General Partner Interest Owned by a Corporation 10,140 Dual Family Limited Partnership Structures 10,160 Dual Limited liability Companies 10,180 Sample Alaska Perpetual Family Trust 10,200 Model Foreign Integrated Estate Planning Structure Including Domestic Family limited Partnership 10,220 Model Foreign Integrated Estate Planning Trust Structure 10,260 Model Foreign Integrated Estate Planning Trust Combined with Estate Planning 10,280 Multiple Structures 10,300 Allocation of Assets Between the Family limited Partnership and the Sample Foreign Integrated Estate Planning Trust 10,320 No General Partnerships Held by Model Foreign Integrated Estate Planning Trust 10,340 Model Foreign Integrated Estate Planning Trust High Degree of, Protection 10,360 Asset Protection Control/Benefit Scale 10,380 Protective Measures and the Sample Foreign Integrated Estate Planning Trust Structure 10,420 Sample Anti-Duress Clause 10,440 Sample Fee Agreement 10,460 Affidavit of Solvency 10,480 Sample Language to Remove Trustees upon Certain Contingencies 10,500 Sample Inter Vivos and Testamentary Powers of Appointment... 10,520 Divorce Clause 10,540 International Trusts Act of 1984, as Amended 10,560 ERISA Pension Plan Flowchart 10,600 Non-ERISA Plan Flowchart 10,620 Life Insurance Exemption Amounts Per State 10,640 Sample Spendthrift Clause 10,660 Transcript of 1995 Contempt Proceedings 10,680 Comparison of Selected Domestic Asset Protection Statutes 10,700 Charging Order Chart by State 10,720 Sample Charging Order Language 10,740 Form 3520, Annual Return To Report Transactions With Foreign Trusts and Receipt of Certain Foreign Gifts 10,760 Form 3520-A, Annual Information Return of Foreign Trust With a U.S. Owner 10,780 Form 5471, Information Return of U.S. Persons With Respect To Certain Foreign Corporations 10,800 Case Study: Fraudulent Transfer Law and the "Threshold Issues". 10,880 Present, Subsequent, and Future Potential Creditor Timeline 10,900

20 Table of Contents xxiii Form 8865, Return of U.S. Persons With Respect to Certain Foreign Partnerships 10,920 Suspicious Activity Reports 10,940 Request for Service Abroad of Judicial or Extrajudicial Documents 10,960 Inaccurate Affidavit re: Letters Rogatory 10,980 Sample Mareva Order 11,000 Sample Privilege Log 11,020 FinCEN Form ,040 FINDING LISTS Page Case Table 773 Index 781