October 2016 Meeting with George Karibjanian- The impact of the Uniform Voidable Transaction Act on Estate Planners
Please Join us on October 18th from 5:30pm-8:00pm as we will have the privelege of hearing from National Speaker, George D. Karibjanian.
George D. Karibjanian is a senior counsel in the Private Client Services Department. George is Board Certified by the Florida Bar in Wills, Trusts & Estates and is a fellow in the American College of Trust and Estate Counsel.
THE NEW UNIFORM VOIDABLE TRANSACTIONS ACT: GOOD FOR THE CREDITORS’ BAR, BUT BAD FOR THE ESTATE PLANNING BAR?
Adopted by the National Conference of Commissioners on Uniform State Laws at its annual conference in Seattle, Washington during July 2014, the Uniform Voidable Transactions Act (the “UVTA”) invites states to replace the better-known Uniform Fraudulent Transfer Act (the “UFTA”). The California Legislature did just that, with the UVTA replacing California’s UFTA as of January 1, 2016. Much about the updated UVTA is admirable – it will better tighten the laws to prevent debtors from intentionally avoiding their legitimate debts. However, the UVTA not only impacts the corrupt debtor, but also has the collateral effect of adversely affecting the individual who engages in certain sound and legitimate estate planning techniques. This presentation will explore the traps and pitfalls of the UVTA and educate California estate planners aware of the dangers it poses to some standard estate planning techniques.