Webinar

Asset Protection Utilizing Michigan's Recently Enacted Domestic Asset Protection Trust

  • Friday, December 15, 2017

    10:00am – 12:00pm
  • 2
    CREDITS
    Specialized Knowledge and Application

Michigan enacted a statute for Domestic Asset Protection Trusts (DAPT) for Michigan residents. This enables the transfer of property to the DAPT while retaining the right to receive benefits from the DAPT. Prior to the enactment of this legislation, creditors had access to these assets. If the facts are properly documented and the DAPT is property administered, creditors will largely be unable to reach these assets. Learn about setting up and administering DAPTs and the impact of Michigan's new voidable Transfer Act (formerly the Fraudulent Transfer Act.)

Objectives

*Learn who should consider DAPTs. Learn how you can help in developing the facts and administering the DAPT

Highlights

*What was the old law and what is the new law
*Who is a suitable DAPT candidate
*The importance of the affidavit and the financial statement type information needed and how to assemble it
*How to help the Trustee administer the DAPT
*Michigan's Voidable Transfer Act

Additional Information

Designed For

CPAs, Tax Practitioners, Financial Planners, CFPs, PFSs and anyone working within a tax practice

Vendor

ACPEN

Advanced Preparation

None

Prerequisite

None

Field of Study

Specialized Knowledge and Application

Course Number

171501975

Level of Knowledge

Overview

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