The year 2012 was a very busy one for estate planners. With the looming expiration of the Bush-era tax cuts and the specter of rising transfer tax rates and lower exemptions, practitioners were focused on helping their clients plan their estates to properly take advantage of the expiring tax laws. However, 2012 was also a significant year for asset protection planners. Virginia joined 12 other states in passing its version of self-settled trust legislation. Courts all over the country issued decisions with ramifications for asset protection planners in both the domestic and foreign contexts. Here are the highlights of these cases and statutes, along with some planning pointers for practitioners. (See also “Domestic Asset Protection Tru...
Unlock All Access Premium Subscription
Get Trusts & Estates articles, digital editions, and an optional print subscription. Choose your subscription now and dive into expert insights today!
Already Subscribed?