Gleitman, Steven L.
April 1995
Journal of Financial Planning;Apr95, Vol. 8 Issue 2, p85
Academic Journal
Traditional estate planning generally focuses only on estate-, gift- and generation-skipping transfer taxes. Asset and lawsuit protection planning provides a more comprehensive strategy that also plans for other risks that can rapidly reduce an estate, such as loss of assets in a products-liability, divorce, or other type of lawsuit. The foundation of asset and lawsuit protection planning is a reduction of transfer taxes through the use of trusts and family limited partnerships. It also reduces or even prevents the risk of loss through an intrafamily lawsuit or lawsuit brought by outsiders.


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