California law regarding fraudulent conveyances makes it a crime to sell or give away your real or personal property in order to avoid having to use that property to pay back a debt. Debtors who break these laws, or people who help them break these laws, may face jail time as well as monetary penalties. Some important examples are provided in this week’s show that make clear why asset protection planning should be an evolving process over time.
Bill Bernard – WFBLegalConsulting.com
Rick Moscoso – Captivate365.com