Asset Protection
Asset protection is best understood as a separate area of focus within the field of Maryland estate planning. As with estate planning in general, asset protection planning must address your specific concerns and needs. Various planning techniques can be used to shelter personal financial assets from potential creditors. These techniques should be used in conjunction with more traditional estate planning techniques. Our Annapolis estate planning and trusts lawyers have developed effective techniques to protect the inheritances you leave to your beneficiaries from their potential (or, indeed, existing) creditors.
Asset Protection Articles
We have published various articles on Maryland asset protection. Many of these articles were presented to continuing education courses for fellow trusts & estates lawyers in Annapolis, the state of Maryland, and nationally, and they were current as of the date of presentation. This material is presented for general information purposes only and those with specific legal concerns are encouraged to seek competent legal representation.
Asset Protection: An Overview for Maryland Estate & Trust Lawyers
1. Introduction
2. Potential Risk to the Lawyer
3. Fraudulent Conveyance Act
4. Bankruptcy Reform
5. Tenants by the Entirety
6. Self Settled Trusts
7. Third Party Spendthrift Trusts
8. Powers of Appointment
9. Discretionary Trusts
10. Limited Liability Entities
11. Special Post-Mortem Issues
12. Probate Creditors
By: Frederick R. Franke, Jr. | (Last Presented 2010 Maryland State Bar Association Continuing Education)
Asset Protection and Tenancy by the Entirety
1. The Historic Roots and Development of Tenancy by the Entirety
2. State Variations
3. Tenants by the Entirety and Bankruptcy
4. Drye and Craft: Federal Tax Liens Trump State-law Rights
5. Planning in Full Bar Jurisdictions: Post Judgment Transfers and/or Disclaimers in Full Bar Jurisdictions Appendix
Choice of Law: Tenancy by the Entirety Across State Lines
1. Introduction
2. “Restatement” (Classification)
3. “Immovables” (Real Estate)
4. “Movables”
5. “Movables” (Tangible Property)
6. “Movables” (Accounts)