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Abstract: 

Preserving wealth from generation to generation is a primary estate planning objective. For many clients, estate plans are designed primarily to reduce the tax effect on net worth, incorporating certain basic asset distribution desires. However, litigation, divorce, environmental, malpractice and other potential claims may damage net worth more than taxes. Thus, asset protection planning cannot be left to chance and has become a key function of the estate planner. Significant changes in state law and court cases in various jurisdictions have recently reduced the opportunities for protection. Careful planning is more important then ever.

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Affiliations:  1: Horwood Marcus & Berk Chartered; 2: Horwood Marcus & Berk Chartered.