Offshore Planning

More and more Americans are utilizing offshore entities to protect their assets. Many utilize offshore structures for asset protection. Others may have foreign property or investments, employment or marital ties overseas, or are involved with an international company. Our firm offers comprehensive advice regarding offshore entities such as limited liability companies and trusts. We advise our clients how to legally establish an offshore entity and transfer wealth to such an entity. We also advise our clients regarding the applicable forms and reporting requirements that must be made to the government. In addition, we advise clients who already have foreign entities and need to come into compliance with strict government reporting requirements.

Below we illustrate some situations where an offshore structure

Foreign Trusts

Offshore trusts have for many years been an essential element of successful estate planning. If properly established, a trust separates the assets from the settlor of the trust. As such, the trust assets may be excluded from an individual's estate for estate tax purposes. Offshore trusts can also be an excellent asset protection vehicle. Asset protection strategies basically work by transferring the wealth to a foreign jurisdiction. Once the wealth has been transferred to a foreign jurisdiction, it becomes exceptionally difficult for a U.S. creditor to recover the assets transferred to the trust. Our firm provides detailed legal advice regarding establishing foreign trusts and how domestic assets can transferred offshore without violating any laws. We also consult individuals who currently have an offshore trust and need to come into compliance with complex U.S. federal law.

Foreign Limited Liability Companies

For asset protection purposes, an individual can place assets in a foreign LLC that does not permit foreclosure on the membership interest subject to a charging order. Individuals also look to foreign jurisdictions that have an established history of making it difficult for creditors to pierce the veil of an LLC. Our office assists our clients establish LLCs in debtor friendly jurisdictions. We advice our clients regarding law of foreign jurisdictions and the property country to establish an LLC based on their particular facts and circumstances. Our goal is to legally protect our client's hard earned assets. Sometimes we advise our clients to utilize tiered LLC located in a number of jurisdictions for asset protection purposes.

Getting Into Compliance with Your Foreign Account Reporting, Part II
Thu, 23 Mar 2017 16:57:00 -0500
March 2017: Client Alert
Wed, 22 Mar 2017 14:46:00 -0500

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