New York Estate Tax Cliff, EPTL §7-3.1, and Koehler Turnover. New York voids self-settled trusts outright, lets courts compel worldwide asset turnover, and has a cliff that can cost $1M on a single dollar of appreciation.
Bankruptcy doesn’t give you a fresh start — it gives a trustee control of your assets and uses them to pay your creditors. Asset protection, built before the threat arrives, keeps your assets in your hands while you negotiate on your terms. This article breaks down the real difference, what the statutes say, and what three landmark cases — Grant, Solow, and Anderson — tell us about how this plays out under real enforcement pressure.
What is the difference between NY Irrevocable Spousal Trusts and Asset Protection Trusts
New York Asset Protection Trust: Why They Fail and What Works. New York voids self-settled trusts under EPTL §7-3.1, lets courts compel worldwide asset turnover under Koehler, and permits creditors to seize LLC interests. What actually holds.
In the early 2000s, domestic irrevocable trusts were widely marketed as the go-to solution for asset protection. Promoted as a way to shield…
Real Estate Asset Protection: Inside vs. Outside Liability. One LLC per property handles inside liability. It does nothing for a personal judgment. Why the Wyoming holding LLC everyone recommends is the weakest layer, and what replaces it.