0
Author: |
Danny C Santucci, JD |
Course Length: |
Pages: 28 ||| Word Count: 14,749 ||| Review Questions: 10 ||| Final Exam Questions: 10 |
CPE Credits: |
2.0 |
IRS Credits: |
2 |
Price: |
$17.95 |
Passing Score: |
70% |
Course Type: |
Text - IRS Enrolled Agents |
Technical Designation: |
Technical |
Field Of Study: |
Taxes |
Approved Audience: |
NASBA QAS - NASBA Registry |
Key Takeaways: |
This mini course surveys opportunities for asset protection that can arise during tax planning and how to properly report such transactions.
|
Frequently Asked Questions: |
|
Description: |
The current litigation explosion has created tremendous Interest in asset protection. Not only does this area have financial and estate aspects, but it also 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. |
Usage Rank: |
12857 |
Release: |
2008 |
Version: |
1.0 |
Prerequisites: |
General understanding of federal income taxation. |
Experience Level: |
Overview |
Additional Contents: |
Complete, no additional material needed. |
Additional Links: |
Internal: Asset Protection ‑ Tax and Financial Aspects (v14) course detail page
Internal: Tax, Bankruptcy, and Financial Problems Mini‑Course course detail page
External: IRS - Abusive trust & tax evasion schemes
External: Asset Protection
|
Advance Preparation: |
None. |
Delivery Method: |
QAS Self Study |
Intended Participants: |
Anyone needing Continuing Professional Education (CPE). |
Revision Date: |
10-Jul-2026 |
NASBA Course Declaration: |
Participants must complete the final examination within one year of purchase and with a minimum passing grade of 70% or better to receive CPE credit unless otherwise noted on the Course History page (i.e. California Ethics must score 90% or better). After logging in click on the Course History links on your My Courses page for the Begin date and Expire date for the Final Exam. |
Keywords: |
Asset Protection - Tax Mini Course - CPE course for CPAs |
Learning Objectives: |
Learning Assignment & Objectives As a result of studying the assigned materials, you should be able to meet the objectives listed below. 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. |
Course Contents: |
Chapter 1 - Asset Protection Asset Protection Why Asset Protection? Situations That Create Danger Sources of Lawsuits Basic Protection Concepts Types of Creditors Evading Creditors Fraudulent Transfers Badges of Fraud Statute of Limitations Criminal Penalties Permissible Asset Transfers Asset Protection Goals Insurance Homeowners Insurance Automobile Insurance Disability Insurance Life Insurance Life Insurance Trust Buy-Sell Agreements Definition Ownership Vehicles & Entities Individual Titles & Sole Proprietorship Individual Sole Proprietorship Corporate C Corporation No Pass Through The S Corporation - §1361 Trusts Types of Trusts Revocable Trust Land Trusts Irrevocable Trusts Testamentary Trust Business Trusts Foreign Trusts - §679 & §1491 Asset Protection Trusts - APTs Family Trusts Medicaid Trust Grantor Retained Income Trust Co-Tenancy Tenancy in Common Percentage Interests No Survivorship Joint Tenancy with Right of Survivorship Percentage Interests Tenants by the Entirety Partition Partnership Partnership Taxation Family Partnerships Charging Orders Phantom Income to Creditor Tax Issues Estate Savings Income Tax Savings Limited Liability Company Suggested Uses Professional Firms Joint Ventures Substitute for Family Limited Partnership Retirement Plan Custodianship Estate Divorce Marital Property Common Law Property Community Property Equitable Distribution Separate Property Asset Division Principles Premarital Agreements Uses & Benefits Control & Scope Limitations Retirement Equity Act of 1984 Enforceability Requirements Post-Nuptial Agreements Glossary |
Login/Register