The purpose of asset protection planning is to evaluate your assets and arrange them in a way that they can be protected against loss. Transferring assets to various types of trusts and establishing retirement accounts are some common strategies for asset protection. However, if your protection plan is not executed correctly, you may find yourself accused of creditor fraud or tax evasion. Understanding what a fraudulent transfer is, as well as how to avoid it, is the first step to keeping your plan on the right side of the law.
Topics covered in this report include:
- The basic steps for asset protection
- What is a fraudulent transfer?
- Avoiding the appearance of fraud
- Start your asset protection planning before a claim arises
- What are the consequences of making fraudulent transfers?
- Many states consider a fraudulent conveyance a crime
- How creditors go about proving fraudulent transfer
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