Sponsored By
Trusts & Estates logo

Ninth Circuit Treads On an Established RightNinth Circuit Treads On an Established Right

In recent years, asset protection planning has won its rightful place as a legitimate specialty, aimed at curtailing the reach of potential, future creditors. Of course, there are still those who believe that it's wrong to ensure against the unknowable and unforeseeable possibility of a future claim. And surely these naysayers are heartened by the U.S. Court of Appeals for the Ninth Circuit's recent

18 Min Read
Wealth Management logo in a gray background | Wealth Management

Gideon Rothschild and Daniel S. Rubin, partners, Moses & Singer LLP, New York

In recent years, asset protection planning has won its rightful place as a legitimate specialty, aimed at curtailing the reach of potential, future creditors. Of course, there are still those who believe that it's wrong to ensure against the unknowable and unforeseeable possibility of a future claim. And surely these naysayers are heartened by the U.S. Court of Appeals for the Ninth Circuit's recent decision in United States v. Townley1 — as this ruling might be read for the proposition that planning can never be done, even if solely for protection against potential future creditors.

Fortunately, Townley is much more of an aberration than a restatement of the law...

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?

About the Authors

Gideon Rothschild

Partner, Moses & Singer LLP

 

GIDEON ROTHSCHILD is a partner with the New York City law firm of MOSES & SINGER LLP, where he co-chairs the Trusts & Estates and Wealth Preservation Group.  He focuses his practice in the areas of domestic and international estate planning techniques for high net worth clients and is a nationally recognized authority on wealth preservation and foreign trusts. 

Mr. Rothschild is the Vice-chair of the Real Property Trust & Estate Law Section of the American Bar Association, a Fellow of the American College of Trust and Estate Counsel and Academician of The International Academy of Trust and Estate Lawyers.  He is a member of the Advisory Boards of BNA’s Tax Management and Trusts and Estates, the Immediate Past Chair of the New York Chapter of the Society of Trust and Estate Practitioners (STEP), and a member of the New York State Bar Association. 

He served as an Adjunct Professor at the University of Miami Law School Graduate Program and has lectured frequently to professional groups including the University of Miami’s Philip Heckerling Institute, the New York University Federal Tax Institute, the New York State Bar Association, the American Bar Association, and the American Institute of Certified Public Accountants.  

Mr. Rothschild is the co-author of the BNA Tax Management portfolio on Asset Protection Planning and has authored numerous articles for publications including  Trusts and EstatesandEstate Planning.  Mr. Rothschild is a recipient of the prestigious Distinguished Estate Planner award from the National Association of Estate Planners and Councils and is listed in Chambers USA, Best Lawyers in America, Top 100 New York Superlawyers and Worth’s Top 100 Lawyers.  Mr. Rothschild is also licensed as a Certified Public Accountant.

Daniel S. Rubin

Partner, Farrell Fritz, P.C.

Daniel S. Rubin is a partner in the New York law firm of Farrell Fritz, P.C.