Steve Oshins’ 3rd Annual Domestic Asset Protection Trust Ranking Chart Thanks to the generosity of nationally renowned estate planning and asset protection attorney, Steven J. Oshins, Esq., AEP (Distinguished) for providing his 3rd Annual Domestic Asset Protection Trust Ranking Chart. For the first time since the chart was originally created, this chart now assigns numerical rankings to each DAPT state. The approximate weights assigned to each variable are listed. However, please note that in the interests of impartiality, since Nevada is the only state (of the top eight states per the rankings) that doesn’t allow divorcing spouses to access its…
How Do You Convince Clients to Actually Do GRATs (and Other Estate Tax Planning)?
Most practitioners know about the estate tax planning “window of opportunity” that may be closing soon. We’ve only got the $5.12 million gift tax exemption until year-end and President Obama’s budget proposal has targeted “loopholes” like GRATs and valuation discounts. You would think these urgencies would be enough to convince high net worth clients to move forward with advanced-level planning (like Dynasty Trusts, GRATs, LLCs, installment sales and completed gift DAPTs) — but it’s still difficult to get people to take action! Having run into this client procrastination problem too many times, I realized that this has less to do…
Steve Oshins on Weddell v. H20, Inc: Nevada Supreme Court Affirms Creditor Protection Benefits of Nevada LLCs
Reproduced with Permission by and Courtesy of Leimberg Information Services, Inc. (LISI). For information about how to subscribe to LISI, click here. “Prohibiting the creditor from exercising the debtor’s management rights reflects the principle that LLC members should be able to choose those members with whom they associate. Thus, the historical rationale for charging order protection was to protect the other members of an LLC where one member has a personal creditor problem. However, as asset protection planning has evolved and the competition among the states to have the most protective asset protection laws has intensified, the asset protection planners…
Nevada Ranked as the #1 Jurisdiction for Domestic Asset Protection Trusts
One of The Ultimate Estate Planner’s main teleconference speakers, estate planning and asset protection attorney, Steve Oshins, was featured in an article posted by The Nevada Trust Reporter entitled, “Nevada Ranked as the #1 Jurisdiction for Domestic Asset Protection Trusts in Steve Oshins’ Mid-Year State Rankings Chart“. Nationally known estate planning and asset protection attorney Steve Oshins (www.oshins.com) is the creator of the Domestic Asset Protection Trust State Rankings Chart (which can be accessed on our Free Resources page) that he publishes each year and updates as the various states modify their laws. He recently did a mid-year update to…
Sophisticated Trusts in English: DAPTs, BDITs, IDITs and More
By Martin M. Shenkman, CPA, PFS, AEP, MBA, JD Planning with sophisticated trusts has burgeoned as taxpayers become fearful of the uncertainty about the future of the tax system (e.g., the drop in the gift and estate exemption in 2013 to $1 million and an increase in the rate to 55%). In the current estate tax environment, more people then ever may benefit from using a Domestic Asset Protection Trust or “DAPT”, but to understand this technique, and whether it, or a different approach would be viable for you, an understandable overview of DAPT and related planning options is needed….