Courts in a number of states have specifically held that lawyers can violate applicable disciplinary rules by facilitating fraudulent conveyances. This can result in an attorney being suspended or even disbarred.
This is one of the reasons that an attorney must conduct a certain amount of due diligence about a new client before agreeing to assist that client with his or her asset protection planning. Also, at times you may think your asset protection attorney is being overly cautious about transferring some of your assets. Keep in mind that if it later appears that your attorney helped facilitate a fraudulent conveyance, the lawyer can face severe consequences.
None of this should impact appropriate asset protection planning. There are many circumstances under which you are free to transfer and/or retitle your assets. The procedures followed by your asset protection attorney are not only necessary to protect the attorney – – they are likely to ultimately be in your best interest as well.