Offshore Trusts Still Viable for America's Rich, Says BNA Author
ARLINGTON, Va., Feb. 5 /PRNewswire-USNewswire/ -- Despite the bad press Swiss banks have recently received, offshore trusts are still viable options for America's wealthy wishing to safeguard their liquid assets. BNA Portfolio author and Coral Gables attorney Howard Rosen will outline precisely why in The Use of Offshore Trusts in Asset Protection Planning, an upcoming BNA Tax & Accounting webinar on February 24, from 12:30 to 2:00 p.m.
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Rosen will discuss asset protection planning strategies in the current economic environment and compare techniques used to protect liquid assets (cash & publicly traded securities) and those used to protect immovable assets such as real property. Emphasis will be placed on the use of offshore asset protection trusts, including entity and group trusts, and a discussion of the tax consequences and related issues surrounding such planning techniques.
"A trust established in an offshore jurisdiction with a protective trust law and sound financial system continues to offer U.S. residents the opportunity to protect their assets provided the initial transfer is nonfraudulent," says BNA senior tax analyst Harold Pskowski. "Individuals considering such trusts should not be put off by recent government actions to locate offshore accounts, because reputable advisors will insist that the trust grantor make full disclosure to the relevant government authorities. The purpose of such trusts is to shelter assets from future claims, not to avoid taxes."
The 60-90 minute webinar will outline:
- Who Needs Asset Protection Planning?
- Why Most Litigants Settle Out of Court
- Why Trusts Are Key To Asset Protection Planning
- Where To Establish The Trust and Why
- Why Not in the USA?
- How Claimants Reach Trust Assets
- Comparison of Certain US & Foreign Rules
- How The Offshore Trust Works
- Typical Protective Clauses
- Overcoming Client's "Loss of Control" Concerns
- Protecting Immovable Assets
- Entity & Group Trusts
- US Tax Compliance
- Contempt of Court Issues
Upon Completion of this Program, participants will be able to:
- Identify clients who may be suitable for asset protection planning;
- Advise clients on relevant asset protection planning issues, including:
- Evaluating appropriate jurisdiction for Trust Situs
- Show how the offshore trust protects assets compared to domestic trusts
- Understand tax compliance requirements
- Understand Ancillary Techniques Required To Effectively Protect Real Property & Other Immovable Assets
About the Speaker
Howard D. Rosen is an Attorney and Certified Public Accountant practicing law in Miami, Florida, as a shareholder (partner) in the firm of Donlevy-Rosen & Rosen, P.A., a firm listed in Martindale-Hubbell's Bar Register of Preeminent Lawyers.
Mr. Rosen has been an Adjunct Professor and lecturer at law at the University of Miami School of Law since 1981, as well as a guest lecturer at the University of Miami School of Business Administration
He is an internationally recognized authority and frequent lecturer on the subjects of asset protection, taxation, and estate planning, having co-authored BNA Tax & Accounting Portfolios on U.S. Taxation Of Foreign Estates, Trusts, And Beneficiaries and Asset Protection Planning. Mr. Rosen has served on BNA Tax & Accounting's Advisory Board on Estates, Gifts and Trusts since 1994.
Mr. Rosen has written extensively on Asset Protection for other leading publishers and has authored articles on asset protection for a wide range of professional journals. He has been the Chairman of the Asset Protection Committee of the American Association of Attorney - Certified Public Accountants since 2004.
The Use of Offshore Trusts in Asset Protection Planning takes place January 24, 2010, from 12:30 – 2:00 pm, ET). Register for this webinar and obtain further information about CLE and CPE credits, go to http://www.bnatax.com/CLE-CPE-Information/?open&cmpid=tmtxpr2010 or call 1-800-372-1033, menu Option 6, then Option 1. The fee is $249 for BNA subscribers, $299 for nonsubscribers.
To receive automatic, email notification of upcoming BNA webinars that may be of interest to you, go to: http://www.bna.com/emailsignup.htm
About BNA Tax & Accounting Webinars
BNA Tax & Accounting is the foremost source of tax and accounting research, news, practice tools, and guidance for tax attorneys, CPAs, corporate tax managers, estate planners, and financial accountants. Designed for today's busy practitioners, our webinars offer the same expertise and relevance that are the hallmark of all BNA Tax & Accounting resources. In just 60-90 minutes, practitioners gain in-depth knowledge on a current tax or accounting topic from experts in that area -- and benefit from practical applications that can be put to work immediately. Conference attendees have the opportunity to ask the speakers questions, and may be eligible to earn CLE or CPE credits -- all from the convenience of their own office or conference room.
SOURCE BNA Tax & Accounting
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