Domestic Asset Protection Trusts 101: Protecting Assets from Creditors—What Attorneys Should Know

$195.00

CLE Credits earned: 2 GENERAL (or 2 LAW & LEGAL for WA state)

This course will be designed to serve as an overview of domestic asset protection trusts (“DAPT’s”), which are trusts which allow the settlor to protect his or her own assets from creditors. The first domestic asset protection trust statute was passed in Alaska in 1997. In the over 20 years since that time, a number of other states have followed suit. The course will describe the uses of DAPT’s, considerations in forming and funding DAPT’s, jurisdiction issues, U.S. bankruptcy protection for DAPT’s, and recent DAPT litigation.

Key topics to be discussed:

•   What are domestic asset protection trusts?
•   What states allow domestic asset protection trusts?
•   How to plan for the formation and funding of a DAPT?
•   What are the current issues in DAPT litigation?
•   What are some alternatives to DAPT’s?

Date / Time: September 16, 2019

•   11:00 am – 1:00 pm Eastern
•   10:00 am – 12:00 pm Central
•   9:00 am – 11:00 am Mountain
•   8:00 am – 10:00 am Pacific

Choose a format:

•   Live Video Broadcast/Re-Broadcast: Watch Program “live” in real-time, must sign-in and watch program on date and time set above. May ask questions during presentation via chat box. Qualifies for “live” CLE credit.
•   On-Demand Video: Access CLE 24/7 via on-demand library and watch program anytime. Qualifies for self-study CLE credit. On-demand versions are made available 7 business days after the original recording date and are view-able for up to one year.

Select your state to see if this class is approved for CLE credit.

Choose the format you want.

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Original Broadcast Date: September 16, 2019

Gray Edmondson, Esq. practices in partnership, corporate, and individual tax planning; business transactions including mergers and acquisitions; business planning, including contract negotiation, review, and drafting; tax controversy; estate and wealth transfer planning; probate; estate and trust litigation; asset protection; and charitable planning.

Mr. Edmondson has conducted, authored, and directed numerous seminars for professional, academic, and civic groups on taxation, business, asset protection, and estate planning. He is a Fellow of the American College of Trust and Estate Counsel (serving on the Asset Protection and Business Planning Committees), member of the Mississippi Bar Association, member of the Mississippi Bar’s Tax Section, member of the Mississippi Bar’s Business Law section, Past President of the Mississippi Bar’s Estates and Trusts Section, and is admitted to practice before the U.S. Tax Court, the U.S. Federal District Courts for the Northern and Southern Districts of Mississippi, and all Mississippi Courts.

Mr. Edmondson earned his B.A., cum laude, and his B.P.A., cum laude, at the University of Mississippi; his J.D., cum laude, at the University of Mississippi School of Law; and his LL.M. (Taxation) at the New York University School of Law.

Accreditation Policy
myLawCLE seeks accreditation for all programs in all states. (Accreditation for paralegals sought thru NALA and NFPA paralegal associations.) Each attending attorney/paralegal will receive a certificate of completion following the close of the CLE program as proof of attendance. In required states, myLawCLE records attorney/paralegals attendance, in all other states attorney/paralegal is provided with the approved CLE certificate to submit to their state bar or governing association.

    Automatic MCLE Approvals

All myLawCLE CLE programs are accredited automatically either directly or via reciprocity in the following states: AK, AR, CA, CT, FL, HI, ME, MO, MT, ND, NH, NM, NJ, NY, WV, and VT. (AZ does not approve CLE programs, but accepts our certificates for CLE credit.)

    Live Video Broadcasts

Live video broadcasts are new live CLE programs being streamed and recorded for the first time. All of these programs qualify for “Live” CLE credit in all states except NV, OH, MS, IN, UT, PA, GA, SC, and LA —these states require in-person attendance to qualify for “Live” CLE credit.

    “Live” Re-Broadcasts

“Live” Re-broadcasts are replays of previous recorded CLE programs, set on a specific date and time and where the original presenting speakers calls in live at the end of the event to answer questions. This “live” element allows for “live” Re-broadcast CLEs to qualify for “Live” CLE credits in most states. [The following states DO NOT allow for “live” CLE credits on re-broadcast CLEs: NV, OH, MS, IN, UT, PA, GA, SC, and LA]

Reciprocity
Many states allow for credit to be granted on a 1:1 reciprocal basis for courses approved in another mandatory CLE jurisdiction state. This is known as a reciprocity provision and includes the following states: AK, AR, HI, CT, FL, ME, MO, MT, ND, NH, NM, VT, NJ, NY, and WV. myLawCLE does not seek direct accreditation of live webinars or teleconferences in these states.

Section I. The traditional rule against self-settled trusts

Section II. Identification of a self-settled trust?

Section III. What is a domestic asset protection trust?

Section IV. States that allow domestic asset protection trusts and what are the most common differences among those states?

Section V. Considerations in forming and funding a domestic asset protection trust

Section VI. Current issues in domestic asset protection trust litigation

Section VII. Alternatives to domestic asset protection trusts