Asset protection and dynasty trusts 4
by Fox, Charles D IV, Huft, Michael J
Continued from page 3.
Is counseling clients regarding asset protection planning (and assisting clients in the creation of asset protection vehicles) ethical? Obviously, no single answer is correct for all situations, and an attorney must assess each situation separately with regard to federal and state ethical rules. The primary sources of federal rules are the American Bar Association's Model Code of Professional Responsibility (the "Model Code") and Model Rules of Professional Conduct (the "Model Rules"). The primary sources of state rules are each state's code of professional conduct.
Generally, as long as the client's asset protection activity about which the lawyer is counseling i...
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