Asset Protection Attorney, Lee S. McCullough, III Law Office

Lee S. McCullough, III received a Master of Accountancy degree from Brigham Young University and a Juris Doctorate degree from the J. Reuben Clark Law School at Brigham Young University, where he graduated magna cum laude. In addition to his private law practice, Lee works as an adjunct professor at the law school at Brigham Young University and he is president-elect of the Utah Valley Estate Planning Council.

The Special Power of Appointment Trust (SPA Trust) is better than a family limited partnership (FLP) or LLC and an Offshore Trust for the following reasons. Asset protection and estate planning strategies to assist in sheltering assets and managing estates from taxation. Asset Protection Trusts typically take the form of a self-settled trust. This article shows how to build a better asset protection trust using an old reliable tool called a special power of appointment. Defective grantor trusts can often reduce or eliminate estate taxes on large estates. Irrevocable trusts are vital to proper estate planning and asset protection. A guide to Buy and Sell agreements.

The Life Cycle Buy Sell Agreement is a relatively new method for structuring a Buy Sell Agreement. Estate planning requires a knowledgeable and specialized attorney that specializes in estate plans and asset protection. Asset protection planning is an ethical way to protect assets and a critical piece of any proper estate planning. A sale to an intentionally defective grantor trust is a well established estate planning strategy that can be implemented quickly and without too much cost or hassle.

In my experience, the safest course is to do asset protection planning well in advance of a problem, do it in way that avoids any discovery, do it in a way that avoids tax problems or issues of any kind, do it in a way that can be easily amended, and do it in a way that is acceptable and defendable even if it is discovered. That is why I think the SPA Trust is the best asset protection solution. Irrevocable trusts are an amazing tool with many uses and almost infinite varieties. This article provides a summary of what these trusts are, how they work, and what some of the options and uses are.

This site provides 10 reasons I can give you better asset protection. I provide highly customized asset protection services to protect assets from estate taxes and other potential liabilities.

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