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Asset Protection: Concepts and Strategies for Protecting Your Wealth [Hardcover]

Jay Adkisson , Chris Riser
4.8 out of 5 stars  See all reviews (5 customer reviews)
List Price: CDN$ 62.95
Price: CDN$ 39.66 & FREE Shipping. Details
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Book Description

June 11 2004

Strategies that are effective and legal for putting one’s assets safely out of reach

In today’s increasingly litigious world, the shielding of assets has become a prominent issue for financial planners, business owners, and high-net-worth individuals. Asset Protection details methods that are both legally and morally legitimate for protecting one’s assets from creditors, lawsuits, and scams.

Bringing economic common sense and legitimacy to an area that is drowning in gimmickry, two of today’s top lawyers examine the fundamental issues in this growing area, avoiding dense legalese to make the book accessible to anyone. Asset Protection covers everything readers want to know about:

  • Establishing an effective asset protection program
  • Today’s most popular, established strategies
  • Newer strategies that are still being resolved by the courts

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Product Description

From the Back Cover

A practitioner's guide to today's most effective asset protection strategies

Shielding assets isn't easy to do in our increasingly litigious society. Yet all too often, business owners and high-net-worth individuals find it more difficult to protect their financial interests from unregulated "asset protection planners" than from the courts--and find themselves losing heavily to both.

Asset Protection details today's most successful, legitimate, and court-proven strategies for protecting one's assets. Taking a unique, all-encompassing approach that minimizes complex legalese to focus on easy-to-understand, effective asset-shielding practices and techniques, this timely book discusses:

  • The goals of asset protection, along with steps for implementing an effective asset protection program
  • Traditional as well as new techniques--what they are, how they work, when and how to use them
  • The vital relationship between asset protection and financial planning, and how to design one umbrella program to address both

Asset Protection delivers a welcome dose of common sense and legitimacy to a field top-heavy with gimmickry and dishonesty. Written by two of today's top legal asset protection experts, it provides you with frank, pull-no-punches details on how to do everything under the law to shield assets from harm in an unpredictable and financially perilous world.

For professionals, business owners, and high net worth individuals, the danger in leaving assets vulnerable to the whims of courts and claimants is higher today than at any time in the past. And while seminar speakers often refer to "bulletproof" asset protection strategies, experienced asset protection planners know that no program or method exists that is effective in every situation--because as soon as a strategy is proven effective the attempts to undermine it will begin in earnest.

Asset Protection is today's most level-headed and technique-based look at how asset protection planning should be approached, both by the finance practitioner and the individual. It presents tools that have worked while warning against means that are inappropriate or even perilous, and provides guidelines for developing effective strategies that will work in both macro (broad) and micro (specific) situations.

Written by two of today's most experienced and authoritative asset protection attorneys, this results-driven book provides a detailed, objective look at all vital aspects of the asset protection picture:

  • Trusts--What they are, what they aren't, which to implement, and when
  • Bankruptcy law --Including pre-bankruptcy planning tactics
  • Fraudulent transfers--And the confusion underlying the Uniform Fraudulent Transfers Act (UFTA)
  • Offshore planning--How to make it financially effective, tax-compliant, and judicious
  • Asset exemption options--And the limits of exempt asset status

In addition, Asset Protection also goes beyond other books of its type to explore the issue of morality in asset protection, and how actions that are seemingly right under the law can still lead to defeat in the courtroom. It provides different scenarios to illustrate how moral dilemmas can impact judges and juries, and discusses how to address these situations--or, better yet, keep them from ever reaching the courtroom.

The future of asset protection is being written even as you read these words. Get the inside story on strategies for shielding assets both today and in the future, from everything from lawsuits and the IRS to creditors and even outright scams, in the comprehensive and indispensable Asset Protection.

About the Author

Jay Adkisson (Laguna Niguel, CA) is a wealth planner with experience as a lawyer in high-profile cases involving offshore assets. He has been favorably featured in the Wall Street Journal, Forbes, and other major publications.

Chris Riser (Atlanta, GA) is a U.S. tax attorney and director of the American Bar Association’s Asset Protection Planning Committee.


Inside This Book (Learn More)
First Sentence
Consider the case of Stephen J. Lawrence, a derivatives trader who went bust in the stock market crash of October 1987. Read the first page
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Front Cover | Copyright | Table of Contents | Excerpt | Index | Back Cover
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Customer Reviews

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Most helpful customer reviews
5.0 out of 5 stars Like a good bottle of wine July 19 2004
Format:Hardcover
Reading this book is like finally getting a good bottle of aged wine after drinking years of fruit punch. From the descriptions of the seedy offshore planners who sell Cook Islands trusts to people whether they need it or not, to the domestic seminar promoters who line up shills to encourage attendees to buy cheapie family limited partnership kits, this book gives a candid look into how asset protection is sometimes shamelessly promoted. Having revealed the dirt under the rug, the book then goes on to address asset protection as a field of risk management and gives the best treatment of fraudulent transfer and bankruptcy preference rules that I have ever read. Just about all the popular asset protection strategies are reviewed, from Nevada bearer share entities to complex litigation expense policies, with the major strengths and weaknesses of each pointed out. The book spends quite a bit of time discussing both foreign and domestic asset protection trusts and their potential flaws (if I were a creditor attempting to penetrate such a structure, this would be the first resource that I would turn to), such that it is a wonderment that those structures are even used at all. Overall, the writing style is good, with just enough technical background on key points to let serious researchers know where to start, without it being overwhelming for the average business reader. Kudos to Jay and Chris. This book is well-researched and provides a level of thoughtfulness and depth of content that has been sadly absent from all the other books considering the topic of asset protection. Big thumbs up!
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4.0 out of 5 stars Layperson Perspective July 15 2004
By A Customer
Format:Hardcover
Pretty good book. The book counters a lot of hype by promoters of "bulletproof" asset protection plans, which do not exist apparently. All plans can fail no matter how elegant.
Moderately complex for a layman to read. Some material over the head of most laypersons. Most material practical. Some abstract theory of not much interest to clients.
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5.0 out of 5 stars The only asset protection book you need July 8 2004
By A Customer
Format:Hardcover
I am an attorney and real estate investor and am concerned about asset protection issues. This is the only book I've read that discusses both the plusses and minuses of various known techniques and also gives excellent big picture advice. Every other book has advocated specific cookie cutter techniques and left me wondering "would this really work if...?" This book tells you why those techniques do not work. Forget about that trust in the Cook Islands, by the way, unless you are willing to flee the country.
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5.0 out of 5 stars Refreshing and funny in places July 7 2004
Format:Hardcover
Just finished it. This was a very well-written book, although it is hard to figure out who the intended audience is. It doesn't seem like they are writing to potential clients, since much of the subject matter is complex, but it is written somewhat like a novel, with occasional anecdotes, so more than just other planners would get something meaningful out of it. The writing style reminds me a lot of the Burton Malkiel classic "A Random Walk Down Wall Street" where there is a mixture of technical theory heavily laced with enlightening storytelling. It definitely has the flavor of professional editing by McGraw-Hill's staff and is obviously not a self-published work. Anyhow, whether you are looking for asset protection solutions or not, the book is quite entertaining and gives an often unflattering view of how asset protection is marketed, such as seminar promoters hiring shills to sit in the audience and act like they are participants to encourage others in the audience to buy kits. A good fifth of the book seems to be an expose of offshore trusts - you certainly won't read this book and rush out to start your own offshore trust after reading about how some people who set them up have gone to jail. The section on equity stripping is very good, as is the section on offshore limited liability companies. This book has ample diagrams to help explain complicated strategies, but the part on advanced methodologies whetted my appetite to learn more and I wish that several additional chapters had been devoted to these topics. It is refreshing to finally see a book whose treatment of asset protection goes beyond "just hire me to hide your money overseas" as so many of the books heretofore have done.
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5.0 out of 5 stars Very solid July 4 2004
Format:Hardcover
This is a very different book about asset protection. It is factual and technical and seems to be written more as a guide to professionals to implement asset protection plans than to the general public, making it the first of its kind. This book does not talk about litigation crises or how the average American is likely to be sued. It does not dwell on the offshore islands where people hide money, and it does not give hints about hiding money or tax evasion. What it does do is give a very good overview of assets protection as it relates to complex legal planning. It talks in great detail about the fraudulent transfer laws and the bankruptcy laws. It talks about how to maximize the benefits of mostly domestic structures, strengthened only as necessary by offshore planning. There is a discussion of captive insurance companies and offshore life insurance, but it is toward the end and does not dominate the book. I think that the best parts of the book were giving an inside glimpse into the asset protection planning world, and showing how the mostly highly marketed structures suffer from serious defects. This is definitely a wake-up call for those who are serious about asset protection, and do not want to fall under the spell of some marketer who sounds good but doesn't really know what they are talking about. We could certainly use a few more books about asset protection like this one, and less of the self-promotional offshore type.
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