Trusts & Estates
Risky Business: Shell Games and Substantive Consolidation
by Jennifer L. Villier, JD | Legal Education Faculty, WealthCounsel
Business planning attorneys routinely counsel clients on the risks of veil piercing. Failing to operate a business as a separate entity may lead courts to pierce the veil and use the owner’s personal assets to satisfy the business debts.
Substantive consolidation is a close cousin of veil piercing. A recent Bankruptcy Court case, In re Cameron Construction & Roofing Co., Inc., serves as a reminder that an entity formed for asset protection purposes must be operated as a legitimate, separate entity from its owner and any affiliated entities, or it may risk substantive consolidation in a bankruptcy proceeding.
Learn more about substantive consolidation, this case, and how you can effectively counsel your small business clients.
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Cryptocurrency and Estate Planning
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Domestic Asset Protection Trusts after Toni 1 Trust
Domestic Asset Protection Trusts (DAPT) have been a useful estate planning tool to help clients protect their assets from creditors. Download this paper now and learn why it has become vital for estate planners to adequately counsel clients in non-DAPT states wishing to fund their DAPT with non-DAPT state property.Learn More
Drafting Third-Party Spendthrift Trusts after U.S. v. Harris
U.S. v Harris changed the game for estate planning attorneys drafting spendthrift trusts. Get the facts in this brief.Learn More