With a $15M exemption few taxpayers will be subject to an estate tax, but asset protection concerns remain a critical planning goal. A recent favorable DE case upholding a self settled trust, and a follow up CO case that overturned a later transaction to that trust, provide valuable lessons as to how clients can protect assets, what steps to take, and which to avoid. How do domestic asset protection trusts (“DAPTs”) compare to other irrevocable trust techniques such as spousal lifetime access trusts (“SLATs”), and special power of appointment trusts (“SPATs”) and which may make sense in which situations? Further, in light of the current high exemption might an incomplete gift variant of one of these trusts be advisable.

Topics & Learning Objectives Include:

• What is Asset Protection Planning?
• Recent DE Case Upheld Asset Protection Trust
• Asset Protection Planning Continuum
• Simpler Irrevocable Trusts May Provide Asset Protection Benefits
• Irrevocable Trusts That Provide Asset Protection Benefits - SLATs, BDITs
• Distinction to Fraudulent Transfers
• Can Asset Protection Risk Levels with DAPTs Be Reduced?