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CALIFORNIA

EXEMPTION PLANNING

NEWSLETTER

WRITTEN BY: DUSTIN I. NICHOLS

AND HEATHER KOCER, CO-AUTHOR

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Article 11: California’s Little Known Gold Nugget for Retirement Preservation – The Private Retirement Trust

Exemption planning is a safe and effective protection solution for wealth preservation and is fundamental to estate planning. With exemption planning, you can properly prepare for the next financial disaster, regardless of whether it is self-inflicted or just bad luck. The first step to protecting yourself, your family, and your legacy must begin with California’s exemption planning toolbox, which contains creditor exemptions, including one very little known, yet robust exemption to protect an individual’s private retirement assets. 

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Article 10: Ride the Waves of Retirement Without Wiping Out

Don’t miss out on the generous statutory exemption protection provided for Private Retirement Plans under Cal. Code Civ. Proc., § 704.115(b).  Discover the benefits of the Exemption Protection Assessment that we perform for each client using our unique Private Retirement Trust Calculator, which generates a Pre-PRT Exposure Report and an Exemption Protection Potential Report.  Understand the pre-PRT exposure of Tom, a 57 year old business owner from Orange County with a new worth of $20 million, as well as his exemption protection potential using exemption planning.  And, learn how retirement planning using the exemption protection afforded Private Retirement Plans can prevent your intended retirement assets from being submerged in a sudden unforeseen tide of creditors.

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Article 9: The Retirement Planning Roller Coaster -

Customizing Your Retirement Plan

Don’t live your life riding the retirement exemption roller coaster on an unfinished track where any unanticipated twist or turn will throw you to the mercy of creditors.  Contact an experienced exemption planning attorney to assist you with safeguarding your retirement assets by customizing a retirement plan that takes advantage of the statutory exemption protection of CCP § 704.115(b).

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Article 8: Clearing a Path to Retirement Planning

Meet Sam, a 50 year old Orange County business owner who has being thinking about establishing a Private Retirement Trust over the past few years, but like many people he just never got around to formalizing a retirement plan.  Sam has assets of $2 million, actual liabilities of $1 million, and unfortunately was just named a defendant in a lawsuit seeking $1 million in damages.  Does the pending lawsuit render Sam insolvent and preclude him from retirement planning?  Does the face value of the contingent liability get factored into Sam’s solvency analysis?  Read the complete article to learn Sam’s fate, as well as the most responsible approach to clearing a path to commence retirement planning with confidence.

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Article 7: Gambling with Retirement Funds - Loans v. Withdrawals

California residents have been dealt the best hand to protect their retirement assets: exemption protection under CCP § 704.115(b).  This statutory exemption protection can preserve and protect retirement assets to ensure California residents never walk away empty-handed no matter how many times they find themselves staring at a losing hand.

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Article 6: PRT Non-Qualified Plan v. ERISA-Qualified Plan

If you would like the benefits of exemption protection for your retirement assets without the hassle of continuously ensuring your Plan complies with the constantly changing ERISA regulations, establishing a customized Private Retirement Trust (“PRT”) pursuant to CCP § 704.115(b) maybe the best fit for you.  Each PRT is designed specifically for the individual participant in connection with a non-qualified Plan thereby avoiding being subject to the rules, restrictions, prohibitions and penalties of ERISA.  

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Checklist

Article 5: The Gluck Case

Not all Private Retirement Trusts are created equal and to illustrate this point, as well as the importance of checking off all the boxes in creating Private Retirement Trusts, we at Brown & Streza LLP thought it important to call attention to a recent case in which a Private Retirement Trust failed to survive judicial scrutiny and why.

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Article 4: Integration of Your PRT Professionals

Meet the Private Retirement Trust (“PRT”) integrated team that has joined forces to safeguard your and retirement assets and assist you in realizing your retirement goals.  With the PRT integrated team, you can rest assured that your PRT will be properly structured, funded and administered so you can enjoy the exemption protection of CCP § 704.115(b). 

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Article 3: Making it into the Exemption End Zone

Learn how to score a legal touchdown with the statutory exemption protection of CCP § 704.115(b) for Private Retirement Plans by exploring the extraordinary protection for retirement assets that is provided by case precedent, including the holding that “the very purpose of the exemption is to permit a judgment debtor to place funds beyond the reach of creditors […]”, and that the statute is to “be construed, so far as practicable, to the benefit of the judgment debtor.”  

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Article 2: The Plan Ingredients

Get a taste of the key ingredients required to create a Private Retirement Plan (“Plan”) that is designed in conformity with case precedent to ensure it will withstand scrutiny from the courts if challenged by creditors.  The most essential of which is the Private Retirement Trust, which is the vehicle created to preserve and protect your retirement assets.

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Article 1: The Potent Statutory Exemption Protection

of CCP § 704.115(b)

Explore California’s exemption planning toolbox and discover the potent statutory exemption protection provided by CCP § 704.115(b).  This statute allows California residents to preserve and protect their retirement assets at the expense of creditors by converting “exposed” personal assets to “exempt” private retirement assets.

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