Overview

Beginning in 1997, when Alaska established the first trust to protect the trust assets from the settlor's credits, DAPTs have become a key part of the estate planner's options to help clients protect their assets. DAPTs provide a domestic alternative to offshore asset-protection trusts while encouraging lifetime estate planning among clients who could benefit from transfer tax planning but could be apprehensive about such planning without possible access to the property transferred in the future. Providing the wealth of information in our volume on the requirements of and limitations on a DAPT, this comprehensive resource on creating trusts that protect assets from creditors. Written by experienced attorneys with extensive experience with DAPTs and other sophisticated estate planning vehicles, the book initially discusses the regulations of the various states that have enacted DAPT legislation, with additional information in related appendices: Alaska, Connecticut, Delaware, Hawaii, Indiana, Michigan, Mississippi, Missouri, Nevada, New Hampshire, Ohio, Oklahoma, Rhode Island, South Dakota, Tennessee, Utah, Virginia, West Virginia, and Wyoming. Subsequent chapters examine specific issues involving the law of domestic asset protection trusts, including: Choosing a DAPT state How to defend--or challenge--a DAPT Attachment of federal tax liens to DAPT assets Trust assets and recovery in bankruptcy

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9781641059329

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ALEXANDER A. BOVE, JR., is a principal in the Boston law firm of Bove & Langa, P.C. In 1998 he was admitted to practice as a solicitor of the Supreme Court of England and Wales. For more than 18 years, Mr. Bove was an adjunct professor of law at Boston University Law School in the Graduate Tax Program. He is a fellow of the American College of Trust and Estate Counsel and was recently admitted as an academician of the International Academy of Estate & Trust Law. Mr. Bove currently serves as chair of the American Bar Association¿s Asset Protection Planning Committee. He has published hundreds of articles and several books on trusts and estates and related estate planning topics. Mr. Bove served as editor in chief of the Asset Protection Journal, Panel Publishers Law Division, from its inception in 1999 through June 2002. He was editor in chief of Asset Protection Strategies, Volume I, published in 2002 by the American Bar Association. Mr. Bove is a nationally known lecturer and has presented at the annual Heckerling Institute on Estate Planning, the annual meeting of the Association of Advanced Life Underwriters in Washington, D.C., the annual meeting of the American College of Trust and Estate Counsel, and the annual convention of the Million Dollar Round Table.

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