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Idaho Residents Can Learn From Asset Protection Mistakes of Others

When done correctly, asset protectionis an expected result of proper legal planning. But if done wrong, assetprotection can be misused as a means to deceive lawful creditors. Make note,this type of planning is no “game” to be won by trickery.

The case of Waldron v. Huberisillustrative of the latter.

To say Waldron v. Huber is a complex case would be a gross understatement.The Huber case included Alaska LLCs,Washington properties, a failing partnership, and a Domestic Asset ProtectionTrust (DAPT). A recent Forbesarticle, titled “Domestic Asset Protection Trust Blows UpBigger Than Alaska In Huber Case,” provides an accuratedescription of the outcome.

Bottom line: in Huber, the courts found the legalplanning to be too-good-to-be-true. The comprehensive analysis of the case bythe Forbes article is instructive,highlighting certain considerations before electing to deploy a DAPT as part ofyour asset protection planning.

At IdahoEstate Planning we are the expertsyou need to know and trust. Work with us and we'll put together a plan thatworks for you and your loved ones. Remember, goodplanning is no accident.

 
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