Kenneth C. Kettering, has made available for download his article, “The Comments to the Uniform Voidable Transactions Act Relating to Self-Settled Spendthrift Trusts are Correct,” published in Tax Management Estates, Gifts, and Trusts Journal, vol. 42, no. 5 (Sept./Oct. 2017). The Abstract is as follows:
The comments to the Uniform Voidable Transactions Act (formerly named the Uniform Fraudulent Transfer Act), originally written in 1984, were refreshed in connection with the 2014 amendments. The comments make reference to the unanimous body of cases holding that a transfer by a debtor to a spendthrift trust for the debtor’s own benefit — i.e., an asset protection trust — is a fraudulent transfer. Vendors of asset protection trusts are seeking to suppress those comments. The arguments they advance for suppression of those comments have no merit at all.
Posted by Lewis J. Saret, Co-General Editor, Wealth Strategies Journal.