More estate plans are now including an element of asset protection. This is what estate planning expert Barry S. Engel calls “integrated estate planning” because it includes elements that are intended to be put to work before the client’s death. The use of foreign trusts and other asset protection strategies have generated some controversy and much discussion in recent years and the area is not one for practitioners to simply “dabble” in, Engel, an attorney, warns. CCH’s editors interviewed Mr. Engel recently for an article in Estate Planning Review that goes over the major issues involved in asset protection strategies and how they fit into an overall estate plan. Mr. Engel is also the author of CCH’s Asset Protection Planning Guide and has set up asset protection plans for many of his estate planning clients over the years.
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This story is from the CCH’s monthly Focus on Tax newsletter, which provides advise and guidance on federal and state tax issues for tax and accounting professionals.
Read this article from CCH’s Journal of Taxation of Financial Products.