Asset protection is concerned with the preservation and transmission of property of individuals, families or corporations. It has the broad purpose of minimising legal, business and political risks, by safeguarding assets from seizure, loss and diminution in value. It is concerned with the protection of assets from potential creditors, government expropriation, excessive taxation and catastrophic loss. It is a vital component of tax advice, wealth management and financial planning. This unit examines the legal aspects of asset protection, from both Australian and international perspectives. It provides a sound understanding of the legal techniques and principles of asset protection. The complex interaction between company law, the law of trusts and property, tax and estate planning laws, bankruptcy and insolvency laws is analysed. The unit focuses on the laws of a select number of offshore jurisdictions, as well as international trust law. It examines the legal impediments and ethics of asset protection. Anti-money laundering rules and the civil and criminal liabilities of trustees and professional advisers are also covered.
Aug 17, 18 and 24, 25 (8.30-4.30)
in-class assessment (30%) and 6000 to 7000wd essay (70%)