Ch. 1: Introduction to Asset Protection

• The Wrong Turn

Discusses the Lawrence and Anderson cases, and how after those cases asset protection lost direction.

More information on the Stephen J. Lawrence case is available at http://www.assetprotectionbook.com/Lawrence.htm

More information on the Michael and Denyse Anderson case is available at http://www.assetprotectionbook.com/anderson_case.htm

A collection of the cases involving Foreign Asset Protection Trusts is available at http://www.assetprotectionbook.com/fapt.htm

• Asset Protection Defined

Discusses the history of asset protection, and how it arose from marketing anti-creditor strategies.

• Asset Protection Planning

Discusses asset protection planning as pre-litigation planning, and how everything is done in anticipation of it later being examined by a hostile judge.

Definition: Charging Order Protection -- This prevents a creditor of an owner of particular types of business interests from reaching the assets of the business and from gaining voting control over the business interest. Rather, the creditor can only get a court order charging the debtor’s interest with the debt, meaning that the creditor will receive any distributions made in respect of the debtor’s interest. If the person in charge of making such distributions never makes one, the creditor may be out of luck. Originally, this protection arose to protect nondebtor partners from the debts of other partners of a business enterprise. Typically, the availability of charging order protection is limited to partnerships and limited liability companies, which is why Family Limited Partnerships are a popular asset protection tool.

• Keeping Ahead of Creditors

Discusses how debtors’ strategies for protecting assets keep ahead of creditors’ strategies for getting at the assets. Also discussion how asset protection is dynamic, and how bad strategies are not easily discarded by those who spent years promoting them.

Definition: Efficacy Known – Those strategies that are readily identifiable and either do or do not work according to established law.

Definition: Efficacy Challenged – Those strategies identified as asset protection strategies (typically in the marketing materials of asset protection promoters), but about which the law is not yet settled.

Definition: Innovative Frontier – New and unique strategies that have not been identified as asset protection strategies, and which have not been the subject of studied attempts to pierce.

More information about the efficacy of methods is available at http://www.adkissonconsulting.com/medical.htm

• Avoiding the Landmines

  Discusses high-profile offshore promoters and now convicted felons Jerome Schneider and Marc Harris, how the client funds of Merrill Scott & Associates of Salt Lake City went missing, asset protection seminars using paid shills to encourage attendees to buy near-worthless kits, and Pure Trusts.

  More information about Jerome Schneider is available at http://www.quatlosers.com/jerome_schneider.htm

  More information about Marc Harris is available at http://www.quatlosers.com/marc_harris.htm

  More information about Merrill Scott & Associates is available at http://www.quatloos.com/merrill_scott_gallery.htm

  More information on asset protection scams is available at http://www.quatloos.com/asset_protection_scams.htm

• ADDENDA

  As of the writing of this book, offshore promoter Terry Neal, the author of "The Offshore Advantage", had not yet plead guilty and thus information about him was omitted. This information is available online at http://www.quatlosers.com/terry_neal.htm