The Fraudulent Transfer of Wealth : Unwound and Explained / David J. Slenn.

Format:

Book

Author/Creator:

Slenn, David J., author.

Language:

English

Subjects (All):

Fraudulent conveyances--United States.

Fraudulent conveyances.

Fraudulent conveyances--United States--States.

Physical Description:

1 online resource (359 pages)

Edition:

;2023-12.

Place of Publication:

Cleveland : American Bar Association, 2023.

Chicago, Illinois : ABA Publishing, [2022]

Summary:

Renowned author David Slenn examines the intersection between fraudulent transfer law and its application to modern day wealth transfer planning transactions. Providing a thorough history of the applications of fraudulent wealth transfer law, the book discusses fraudulent transfer law and wealth transfer planning, issues for wealth transfer planners and creditors, the uniform acts, and more. Modern fraudulent transfer law dates back to the Roman era, however, fraudulent transfer law in the U.S. closely reflects the law developed in England and the Statute of 13 Elizabeth. This unique guide tracks the historical development of this aqncient creditors' rights law, as well as addresses and warns against fraudulent wealth transfer. Wealth transfer planning is a legitimate service if done properly. However, it is important for all parties impacted by the transfer of wealth to understand the scope and application of fraudulent transfer law. This book discusses the factors involved with the fraudulent transfer of wealth and outlines steps that planners can take to minimize a transaction's exposure to avoidance. Proactive measures that creditors can take to reduce the chance of losing assets or legal measures to restore the creditor are discussed. Real-life scenarios are included to show where advisers face liability for their role in facilitating the transfer of wealth meant to frustrate a creditor's claim. Today, the transfer of wealth can still be challenged successfully using centuries' old fraudulent conveyance law. This book includes an extensive listing of case law that provides ample opportunity for creditors to analyze new strategies by analogy to old tricks. This book will guide wealth transfer planners to plan for their clients successfully, while navigating complex fraudulent transfer laws to ensure the effective transfer of wealth.

Contents:

Intro

Title Page

Copyright Page

Contents

Acknowledgements

Introduction

Chapter One Roots of Fraudulent Transfer Law

English Laws

Chapter Two Early U.S. Law

Public Policy

Chapter Three Uniform Acts

Characterization

Procedural Issues

Actual Fraud

Constructive Fraud

Insider Preference Rule

Burdens and Presumptions

Remedies

Prejudgment Relief Permitted

Defenses, Liability, and Protection of Transferee

Transferee Acts in Good Faith and Gives Reasonably Equivalent Value

Equitable Adjustment

Statute of Limitation/Repose

Chapter Four Uniform Voidable Transactions Act

Official Comments

Controversy Regarding Official Comments

Voidable per se

Chapter Five The Fraudulent Transfer Iceberg: Application of Statutory &amp

Common Law

Broad Terminology

Transfer

Voidable

Asset

Exemption Creation

Community Property

Tenancy By Entirety

Homestead

Exemption Tracing

Transferee

Claim

Hinder, Delay, or Defraud

Reasonably Equivalent Value

Necessities

Future Creditors

Future Unforeseeable Creditors

Relevant State Case Law

Substance Over Form

Attorney Fees

Statute of Limitations

Right to Jury Trial

Secondary Liability

Choice of Law

Actual Conflict

Jurisdiction Pointing Test

Chapter Six Fraudulent Transfer Law and Other Law

Criminal Statute

Proceedings Supplementary

Spousal Transfer Statutes

Rule Against Self-Settled Trusts

Corporate Clawback

Federal Law

Unjustment Enrichment

Alter Ego

Tortious Interference with Contractual Relations

Chapter Seven Fraudulent Transfer Law and Wealth Transfer Planning

Estate Planning

Transfers to Revocable Trusts

Modification of Trust Agreement

Third-Party Trust Planning

Split-Interest Trusts

Power of Appointment Trusts.

Self-settled Spendthrift Trusts

Civil Law Foundations

Transfers Pursuant to Power of Attorney

Change in Life Insurance Policy Ownership or Beneficiary Designation

Exemption Planning

Disclaimers

Probate Administration Issues

Family Law Planning

Trusts or Entities Created During Marriage

Marital Settlement Agreements &amp

Sham Divorces

Creation of Marital Property

Business Planning

Limited Liability Companies

LLCs as Trust Substitutes

Capital Contributions

Distributions to Pay Business Owner Taxes

Distributions From Entity in Repayment of Owner Loan

Entity Conversions

Sale of Business

Allocation of Purchase Price

Substance over Form

Leveraged Buyouts

Successor Liability

Related Party Sales and Loan Transactions

Tax Planning

Federal Tax Liens

Asset Protection Planning

Asset protection trusts

Self-settled Trusts in History

Enforceability of Weakened Fraudulent Transfer Law

Adviser Immunity

Relevant Case Law

Rule Against Self-Settled Trusts and Fraudulent Transfer Law

Self-Settled Trusts: Various Badges of Fraud

Chapter Eight Estate, Business or Tax Planning Excuse

Chapter Nine Fraudulent Transfer Law Issues for Planners

Due Diligence

Documenting the File

Marketing Asset Protection or Wealth Preservation

Consequences of Actual Fraud

Attorney-Client Privilege

Jurisdictional Issues

Denial of Discharge

Disregarding Trust Relationship/Terms

Solvency Affidavits

Attorney Civil Liability as Transferee

Attorney Liability for Assisting with Wrongful Conduct

Racketeering Influenced and Corrupt Organizations Act (RICO) Actions

Attorney Immunity Defense

Ethics issues

Malpractice Issues

Insurance Coverage

Chapter Ten Super Creditors

FDCPA

Internal Revenue Service

IRS As a Transferee.

IRS as Creditor

Securities and Exchange Commission

Bankruptcy Court

Strong-arm Provision

Bankruptcy Estate Claim for Malpractice

Extended Statute of Limitations

Chapter Eleven Wealth Transfer Planning Issues for Creditors

Discovery Issues

Pro-debtor Legislation

Notice to Creditors

Estate Planning with Collateral

Importance of Tracing Assets

Solvency Analysis

Loan Provisions

Family Law &amp

Personal Injury Lawyers

Chapter Twelve What Comes Next?

Table of Cases

Index

About the Author.

Notes:

Title from eBook information screen..

Includes bibliographical references and index.

Description based on print version record.

Other Format:

Print version: Slenn, David J. The Fraudulent Transfer of Wealth

ISBN:

1-63905-194-5