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February 06, 2012
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Washington DC Asset Protection News

 

Critical Asset Identification Is Still Not Complete

In October 1998, a month before agencies’ initial CIP plans were due, CIAO issued its Vulnerability Assessment Framework. The framework was intended to provide detailed guidance to federal agencies on how to identify their critical infrastructures, identify interdependencies and vulnerabilities of those infrastructures, and provide the basis for developing remediation plans. However, CIAO officials concluded, on the basis of a review of agency CIP plans and subsequent discussions with agency officials, that agencies did not find the framework particularly helpful in carrying out agency planning efforts. Further, several agencies were unclear whether “critical” organizations, personnel, systems, and facilities to be identified using the framework referred only to those specific missions performed by the individual departments and agencies or more broadly to the performance of functions and missions by federal agencies on behalf of the nation.

On the basis of this review of the agencies’ initial plans, CIAO decided that the management of CIP programs required a new functional approach to defining and identifying critical assets and their dependencies, and it shifted the focus to identifying assets and dependencies that, under PDD 63, are deemed critical to the federal government’s carrying out its responsibilities for national security, maintaining the orderly functioning of the national economy, and ensuring the health and safety of Americans. To accomplish this goal and provide the agencies with additional guidance, in March 2000, CIAO began offering its Project Matrix methodology.

Project Matrix consisted of a three-step process in which each civilian federal agency identifies (1) its critical assets; (2) other federal government assets, systems, and networks upon which its critical assets depend to operate; and (3) all associated dependencies on private-sector owned and operated critical infrastructures.

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Did You Know?    
 
 
A Living Trust is an entity created for the purpose of holding and managing assets
A Living Trust is an entity created for the purpose of holding and managing assets for the benefit of the creators of the Trust (the “Trustors”) during their lifetimes and then for the purpose of management and distribution of the assets to the beneficiaries designated by the Trustors. There are various reasons for creating Living Trusts: (a) To avoid probate administration on death of either Trustor. (b) To avoid a court supervised conservatorship in the event of lifetime disability of either Trustor. (c) To provide for the management and distribution of assets during continued administration of the Trust or upon its termination.

 


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News about Asset Protection cases in Washington DC and nationwide:

Metlife Offers Redesigned Asset Protection Policies For New York State Partnership
New York – MetLife is the first carrier to offer redesigned New York State Partnership for Long-Term-Care (NYSPLTC) insurance policies to individua...
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Agency Financial Management Systems Architecture
Agency financial management systems are information systems which track financial events and summarize information to support the mission of an age...
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Justice Department Files Suit To Halt Florida Man’s Promotion Of So-Called Asset Protection Schemes
WASHINGTON, D.C. - Today the Department of Justice filed suit in federal court in Tampa, Florida, to stop David Marvin Swanson of Sarasota, Florida...
Read more >


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Asset Protection Lawyers.com Terms

 


Today's Terms

Trustee

Definition:
The person who receives legal title to the assets in the trust but is legally obligated to hold, manage, and invest the trust assets for the benefit of the beneficiaries. The trustee's duties are set by the trust agreement and by law.

Tax exempt entity

Definition:
To hold the protected assets. The stock in this tax exempt entity can be held by an asset protection trust. As a result, the stock does not show up on the balance sheet of the taxpayer and the income from the assets is likewise off the tax return of the protected client.

Asset allocation

Definition:
Diversification of your investments, usually between U.S. and international equities, fixed income, real estate, and commodities.

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Asset Protection Resources

 


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Asset Protection Hot Topics

 
Topics Related to Asset Protection:

  • Trusts
  • Wills
  • Uniform Probate Code
  • Gift Tax
  • Dynasty Trust
  • Annuities

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Washington DC Asset-Protection Attorney

 
If you live in the following cities and need an Asset-Protection attorney you should contact our Asset-Protection Attorney as soon as possible:

  • Washington DC
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  • Columbia Heights
  • Dupont Circle
  • Foggy Bottom
  • Friendship Heights
  • Georgetown
  • Glover Park
  • Logan Circle
  • Mount Vernon Square
  • Mount Pleasant
  • Shaw
  • Woodley Park


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