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Asset Protection Strategy: Advantages and Pitfalls of Using Trusts, LLC's and other Techniques

SKU: EPP068
General Credits
2
Price$100
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Description

This CLE program will provide an overview of asset protection techniques. We will examine how various traditional estate planning techniques provide protection from creditors including the protection afforded by assets titled as tenants by the entirety; the protections provided using life insurance and annuities; retirement assets; and homestead provisions.

There are 20 states which now recognize asset protections trusts. We will examine how these trusts are structured and analyze the case law involving asset protection trusts. We will also discuss how asset protection trusts are used to protect gifts and inheritances from the claims of the beneficiaries’ creditors.

Lecturer Bio

Kenneth Cohen, Esq.

Kenneth R. Cohen is a Principal at Bressler, Amery & Ross in the Estate Planning and Administration, Private Client, and Tax practice groups.

Ken’s experience in Federal and State taxation enable him to provide an extra level of service to his clients which includes asset protection, tax controversy, business law, and estate planning and administration.

Clients appreciate Ken’s practical experience and sound business and tax advice. He is a dealmaker who finds practical ways to structure transactions, ranging from like-kind exchanges, business purchases and sales, licensing agreements, and employment compensation arrangements. Clients know that their legal matters will be handled with a high level of care and expertise, with a view to minimize potential tax liability.

Ken is familiar with sophisticated estate planning techniques including various forms of trusts, limited liability companies, residency issues and gifting techniques which can significantly reduce estate taxes. However, he understands that estate planning also involves personal and inter-family issues. He listens to his clients’ unique objectives and concerns.

Ken has developed a reputation for successfully helping clients who have tax related problems. He has successfully litigated sales tax, income tax and estate tax matters in federal courts including the United States Tax Court and in the New Jersey Tax Court. He also assists clients in negotiating a reduction in the taxes owed including offers in compromise.

He is recognized for his expertise in providing assets protection on behalf of his clients. Clients seek Ken’s guidance for providing asset protection for all sorts of potential liabilities including business creditors, IRS and New Jersey Division of Tax, marital claims, and Medicaid. He knows the best asset protection techniques to apply based on the client’s specific needs, including asset protection trusts, limited liability companies, and retitling of assets.

Ken has hosted the annual Asset Protection Seminar on behalf of the NJ Institute of Continuing Legal Education since 2013. He also serves as a part-time faculty member in the Rutgers Law School where he teaches Federal Income Taxation. He previously taught federal income taxation as an adjunct professor at Rutgers Business School and in the Fairleigh Dickinson University Graduate School tax program.

Ken has been active in the Tax Section of the New Jersey State Bar Society. He served as Chairman of the Estate Tax Section and as Chairman of the Income Tax Section. He was a member of the Special Task Force on Partnership Taxation to ensure that the New Jersey partnership statute was in compliance with Internal Revenue Regulations.

Ken graduated from Rutgers College with a bachelor's degree in economics. He received his law degree from Rutgers Law School and has a master’s degree in taxation from New York University Law School.

The National Academy of Continuing Legal Education is an Alabama State Bar Accredited CLE Sponsor (CLE Sponsor #5893). All courses offered by the National Academy of Continuing Legal Education have been directly approved by the Alabama State Bar. To view our full accreditation details, please click here.


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