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  5. 398 B.R. 6 (2008)
 

IN RE CUTTER

BAP Nos. CC-07-1436-MoDK, CC-08-1024-MoDK, CC-08-1025-MoDK. Bankruptcy No. SV 05-14744-KT. Adversary No. SV 06-01249-KT.

398 B.R. 6 (2008)

In re Edward Williams CUTTER, Debtor. Edward Williams Cutter, II, an individual; Edward Williams Cutter, II, Trustee of The Edward Williams Cutter, 2nd Inter Vivos Trust dated May 23, 1989, Appellant/Cross-Appellee, v. David Seror, Chapter 7 Trustee, Appellee/Cross-Appellant, v. Zoran Vujic, Executor of the Estate of Alberta Patricia McNamara, Deceased, Appellee.

United States Bankruptcy Appellate Panel of the Ninth Circuit.

Filed September 4, 2008.

Amended December 3, 2008.

Attorney(s) appearing for the Case

Bruce M. Greenfield, Los Angeles, CA, for Debtor, Appellant/Cross-Appellee.

Russell H. Rapoport, Plotkin, Rapoport & Nahmias, P.C., Encino, CA, for Appellee/Cross-Appellant.

Daniel I. Barness, Spiro, Moss, Barness & Harrison, Los Angeles, CA, Stephen L. Kaplan, Hicks, Mims, Kaplan & Burns, Laguna Niguel, CA, for Appellee.

Before: MONTALI, DUNN, and KLEIN, Bankruptcy Judges.

AMENDED OPINION1

MONTALI, Bankruptcy Judge.

These appeals involve a failed asset protection scheme. We publish to call attention to a fundamental fallacy inherent in that scheme. The cornerstone of the scheme is a self-settled trust that identifies only unnamed "surviving" descendants of the trustor as beneficiaries (whose interests vest only after the trustor's death), but leaves in the trustor/trustee the power to deplete...

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