A Guide to Asset Protection: How to Keep What's Legally Yours [Paperback]

Robert F. Klueger (Author)

Book Description

Publication Date: November 13, 1996

How to shield your assets from creditors and other claimants.

You've worked long and hard for your assets, from your business and home to hard-earned savings and investments. To safeguard them--particularly against liability suits, "America's number one indoor sport"--A Guide to Asset Protection offers proven strategies to help you keep what you may have spent a lifetime earning.

Written by an attorney who specializes in tax-, estate-, and asset protection planning, this indispensable reference is filled with sound advice and practical tips on how to avoid the litigation jungle, as well as revealing insight on how creditors find and get at your assets. Actual case histories and model agreements steer you through the essentials, including:
* Protection through trusts--irrevocable trusts and gift taxes, life insurance trusts, foreign asset protection trusts (FAPTs).
* Fraudulent conveyances--the laws of fraudulent transfers, what fraudulent conveyance is (and is not).
* Asset protection for married couples--separate and community property, transmutation agreements.
* Using family limited partnerships--limited liability companies.
* Employing qualified retirement plans--anti-alienation rule, nonqualified retirement plans, individual retirement accounts (IRAs).
* Filing bankruptcy to protect your assets--dischargeable taxes, pre-bankruptcy planning, Chapter 7 and Chapter 13.

Editorial Reviews

From the Back Cover

How to shield your assets from creditors and other claimants.

You've worked long and hard for your assets, from your business and home to hard-earned savings and investments. To safeguard them—particularly against liability suits, "America's number one indoor sport"—A Guide to Asset Protection offers proven strategies to help you keep what you may have spent a lifetime earning.

Written by an attorney who specializes in tax-, estate-, and asset protection planning, this indispensable reference is filled with sound advice and practical tips on how to avoid the litigation jungle, as well as revealing insight on how creditors find and get at your assets. Actual case histories and model agreements steer you through the essentials, including:

• Protection through trusts—irrevocable trusts and gift taxes, life insurance trusts, foreign asset protection trusts (FAPTs).
• Fraudulent conveyances—the laws of fraudulent transfers, what fraudulent conveyance is (and is not).
• Asset protection for married couples—separate and community property, transmutation agreements.
• Using family limited partnerships—limited liability companies.
• Employing qualified retirement plans—anti-alienation rule, nonqualified retirement plans, individual retirement accounts (IRAs).
• Filing bankruptcy to protect your assets—dischargeable taxes, pre-bankruptcy planning, Chapter 7 and Chapter 13.

About the Author

ROBERT KLUEGER is an attorney specializing in tax- and asset protection planning. A member of the California, New York, and Colorado bars, who is admitted to practice in The United States Supreme Court and The United States Tax Court, he is the author of Buying and Selling a Business and Mergers and Acquisitions. Mr. Klueger practices law in Encino, California.

Product Details

• Paperback: 288 pages
• Publisher: Wiley; 1 edition (November 13, 1996)
• Language: English
• ISBN-10: 0471148857
• ISBN-13: 978-0471148852
• Product Dimensions: 9.2 x 6 x 0.7 inches
• Shipping Weight: 15.7 ounces (View shipping rates and policies)
• Average Customer Review: 4.6 out of 5 stars  See all reviews (5 customer reviews)
• Amazon Best Sellers Rank: #701,866 in Books (See Top 100 in Books)

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Customer Reviews

Most Helpful Customer Reviews

16 of 16 people found the following review helpful:

4.0 out of 5 stars A good overview with layman's terms, easy to understand, September 30, 1997

By A Customer

This review is from: A Guide to Asset Protection: How to Keep What's Legally Yours (Paperback)

As an attorney who considers himself pretty well versed in the content of this book, I read the book with an intent to review an area of the law I had not practiced in a while. The book was a pleasant surprise to me. The explanations given by Mr. Klueger were accurate and well written in terms anyone would understand, even an old salt lawyer like me. I would highly recommend this book to anyone who wants to learn the nuts & bolts of asset protection strategies, even before the reader goes to his lawyer to discuss his own concerns. The form for a family limited partnership in the back of the book is handy and good reading as an example. I only wish Mr. Klueger had included some additional forms for the various stratagies mentioned in the book. Overall, I'd give it a "well done!"

15 of 16 people found the following review helpful:

4.0 out of 5 stars A Good Overview, January 6, 1999

By 

Sudeep Bose "Attorney, Former Police Officer ... (Northern Virginia) - See all my reviews
(REAL NAME)   

This review is from: A Guide to Asset Protection: How to Keep What's Legally Yours (Paperback)

This book is a primer on the topic of asset protection and offers readers a general overview of both domestic and foreign protection vehicles.

One should not buy this book believing it is a practical manual on the topic of estate planning or asset protection. The book is remarkably easy to read and filled with hypotheticals based on a case sample, but it lacks the depth and detail required to be a good primary reference.

6 of 6 people found the following review helpful:

5.0 out of 5 stars good intro background on the topic, March 20, 2003

By A Customer

Amazon Verified Purchase

This review is from: A Guide to Asset Protection: How to Keep What's Legally Yours (Paperback)

This book is aimed at someone who has some assets to protect but doesn't know the first thing about it. It does an admirable job in explaining in general how creditors get to your assets, along with clear explanations of the principal mechanisms to protect assets. Obviously you should get an attorney who knows this field if you are serious about the whole thing, but this book gives you some background to help you talk to and work with this attorney. Beware of books and websites selling you the Next Greatest Offshore Asset Protection Scheme. This book is much more general and much more credible.