The current litigation explosion has created tremendous Interest in asset protection. Not only does this area have financial and estate aspects but it directly impacts tax planning.
This mini-course is designed to survey opportunities for asset protection that can arise during tax planning and to determine how to properly report such transactions.
ASSIGNMENT
At the start of the materials, participants should identify the following topics for study:
* Basic protection concepts & fraudulent transfers
* Insurance
* Individual titles and sole proprietorship
* Corporations
* Trusts
* Co-tenancies
* Partnerships
* Limited liability companies
* Marital property & separate property
* Premarital & post-nuptial agreements
Learning Objectives
After reading the materials, participants will be able to:
1. Identify ethical considerations and misconceptions about and the reasons for asset protection, and determine fraudulent transfers such as transactions intended hinder the collection of debt
2. Recognize how the various types of entities relate to asset protection and how the various types of joint ownership of property and various trusts directly impact asset protection and tax liability.
3. Determine the concepts of common law property, community property, and equitable ownership, specify asset division principles, and recognize premarital and post-nuptial agreements and how they can be used to advise clients in individual asset protection.
To complete this course participants need to: Read the material provided and answer chapter review questions, successfully complete the qualified assessment with a minimum of 70% accuracy to receive your certificate. In Addition, no correct or incorrect feedback for any exam question will be provided.
Upon course completion A course evaluation form is provided for your feedback.
Participants have 1 year from the date of purchase/enrollment to complete this course
CPE Prime is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org