[WSBARP] Referral for Asset Protection Trust

[Jerimy Kirschner]

Hello Gerald,

I want to provide a word of caution. I am also licensed in Nevada and have created DAPTs & litigated issues surrounding them in the past.  One of the first things you (should) do as a practitioner is evaluate solvency and if the transfer is being made to defeat an existing or known creditor.  Most attorney's in Nevada will not work with someone who is trying to evade an active creditor because it becomes a presumptive fraudulent/voidable transfer under Chapter 112 of the NRS.   There is also a chance AC privilege is lost if you are knowingly facilitating the fraud. It may also expose the practitioner to personal liability for the debt.

If a client is asking about this type of work, it is best to simply say you can't help. Otherwise, if your client can be traced back to you, your email to the list serve becomes an exhibit.

--
Jerimy Kirschner
Managing Partner
Jerimy Kirschner & Associates PLLC


WASHINGTON

1750 112th Avenue NE, Suite B-215

Bellevue, WA 98004

Phone: (425) 590-9019

Fax (206) 538-2008

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________________________________
From: wsbarp-bounces at lists.wsbarppt.com <wsbarp-bounces at lists.wsbarppt.com> on behalf of Gerald Sprute <sprutelaw at msn.com>
Sent: Thursday, October 12, 2023 11:39 AM
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Subject: [WSBARP] Referral for Asset Protection Trust

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Hi All,



PC came into my office looking for (essentially) an asset protection trust.  He has a significant IRS lien on his financial accounts resulting from an erroneous payroll entry on the IRS end – he has an attorney working through this issue for him he said but it could take years to sort it all out.

So he wants a way to shield his assets from the IRS lien, and potential threats moving forward.



I know Nevada and Delaware have favorable asset protection trust laws.  Anyone versed enough in this area to give advice, and take on a new client?



Law Office of Gerald A. Sprute
P.O. Box 1657
Duvall, WA 98019
Tel: (425) 892-4079
Fax: (425) 844-9151
www.sprutelaw.com <http://www.sprutelaw.com>









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