Attorney Jacob Stein's recent article titled
McCourt Divorce Shines a Light on Asset Protection was published in the September 10, 2010 issues of the Los Angeles Daily Journal. The article explores how the McCourts used a rarely talked about asset protection structure known as a "
transmutation agreement" to protect their assets from creditors.
The article provides an easy to understand explanation of asset protection, transmutation agreements and ties those into the McCourt divorce.
"Asset protection has significantly gained in prominence over the past few years. The declining fortunes of real estate developers and investors facing personal guarantee calls, coupled with business owners teetering on the verge of bankruptcy, resulted in a boom for this industry." You can download the remainder of the article here:
http://maximumassetprotection.com/publications/articles.html About Jacob Stein Mr. Stein is a partner with the law firm Klueger and Stein, LLP, in Los Angeles, California. The firm's practice is limited to asset protection and sophisticated domestic and international tax planning.
Jacob received his law degree from the University of Southern California, and his Master's of Law in Taxation from Georgetown University. Mr. Stein has been accredited by the State Bar of California as a Certified Tax Law Specialist, is AV-rated (highest possible rating) by Martindale-Hubbell and has been named A Rising Star by the Los Angeles Magazine.
On a daily basis Mr. Stein assists high net-worth individuals and successful businesses in protecting their assets from plaintiffs and creditors by focusing on properly structuring asset ownership and business structures and operations. Over the course of his career Mr. Stein has represented over a thousand clients, including: officers and directors of Fortune 500 companies; celebrities; Internet entrepreneurs; high-profile real estate developers, builders and investors; physicians; wealthy foreigners; small business owners; attorneys, accountants and financial advisors; and many other individuals facing financial adversity or seeking privacy for their holdings.
Mr. Stein is an author of numerous tax and asset protection articles and technical manuals and a frequent lecturer to various attorney, CPA and other professional groups on topics ranging from asset protection to choice of entity planning, and offshore tax planning to advanced real estate exit strategies. Jacob is an instructor with the California CPA Education Foundation, National Business Institute and Lorman Education Services where he teaches courses on advanced tax planning, asset protection and trust law. He is an adjunct professor of taxation at the CSU, Northridge Graduate Tax Program.