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Bankruptcy Abuse Act: Impact on Financial and Estate Planning

Sidney Kess and Martin M. Shenkman

The Bankruptcy Abuse Act changes planning on how to minimize the adverse impact of a bankruptcy—i.e., the techniques that should be used, what documents to prepare, the drafting language to be included, how assets are to be allocated to various structures (retirement plans, trusts, etc.).

Topics covered include:

  • The effect of the Bankruptcy Abuse Act on domestic and foreign asset protection trusts.
  • Methods for transferring assets to a self-settled trust without exhibiting the intent to hinder, delay, or defraud creditors.
  • Methods for applying the terms of the Bankruptcy Abuse Act to help clients protect retirement assets and use the new protections for IRAs and college tuition savings plans to shelter more of the clients' assets.

Course Details
Price:  $12.00
Field of Study:  Taxes
Prerequisites:  Basic knowledge of bankruptcy provisions
Level:  Overview
CTEC course number:  1075-CE-6812
Course was last updated on:  05/31/07
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Library:
Wealth Management

Technical Requirements:
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Credit Available For: Units
CPE 1 CPE
QAS 1 CPE
CFP® (Accepted by the CFP Board) 1 CPE
Enrolled Agent (Accepted by the IRS) 1 CPE

Note: Recommended CPE credit is based on a 50-minute hour. Participants earning credits for states that require self-study to be based on a 100-minute hour will receive half the recommended CPE credits for successful completion of this course.

Since Continuing Professional Education requirements vary from state to state and are subject to change without notice, please contact your state board of accountancy for information on your CPE requirements and the applicability of this course to meet those specifications.

CCH has been approved by the California Tax Education Council to offer courses that provide federal and state credit towards the annual "continuing education" requirement imposed by the State of California. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, toll-free by phone at (877) 850-2832, or on the Internet at www.ctec.org.

User Reviews
Reviewer: Maureen Ann W. submitted on 12/14/2009
n/a
Reviewer: Brent L. submitted on 06/04/2009
examples helped to understand subject material
Reviewer: Todd S. submitted on 02/06/2009
Provided good examples
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