They Work Extremely Well? - Offshore Asset Protection Trusts: Why Do Them and Where to Create Them (Cook Islands? Nevis?)

    They Work Extremely Well? - Offshore Asset Protection Trusts: Why Do Them and Where to Create Them (Cook Islands? Nevis?)
    CLE 90 min

    They Work Extremely Well? - Offshore Asset Protection Trusts: Why Do Them and Where to Create Them (Cook Islands? Nevis?)

    Some estate planning practitioners caution that offshore asset protection trusts work "extremely well." Cases in the United States indicate that debtors sometimes cannot reach their own assets even when said debtor's freedom (via a contempt of court order) is on the line. However, all offshore asset protection trusts are not created equal; when used with the right client, in the right set of circumstances, they offer unmatched protection that could be a wonderful estate planning tool. Domestically in the United States, at least 24 states allow some form of a domestic asset protection trust, including inter vivos QTIP trusts and self-settled asset protection trusts. The proliferation of domestic asset protection trusts leaves attorneys inquiring whether their use outweighs the potential benefits of using an offshore asset protection trust. The presenters of this eCLE webinar will put to bed the rumors and speculation of how offshore asset protection trusts work and how they can be of benefit to you and your clients. Some questions that will be addressed are:

    ·          How will an offshore asset protection trust benefit my clients?

    ·          Do the costs of creating a trust in one offshore jurisdiction outweigh the creation of such a trust in another?

    ·          Is the trust really protected from creditors?

    ·          How does an offshore asset protection trust's creation interact with the FBAR requirements?

    ·          How do creditors view a potential debtor's creation of such a trust?

    ·          Are there any issues of the drafting attorney being treated as a promoter?

    ·          Can courts in the United States really come after the drafting attorney as an aider and abettor of fraud?

    ·          Is using a domestic asset protection trust better?

     

    SPEAKERS:

    Michael Sneeringer (Moderator)

    Akerman LLP - Naples, FL

     

    Patricia Donlevy-Rosen, Esq.

    Donlevy-Rosen & Rosen, P.A. - Coral Gables, FL

     

    Jonathan E. Gopman

    Akerman LLP - Naples, FL

     

    Jan Dash

    Liburd and Dash, L.P. – Charlestown, Nevis

     

    Adrian L Taylor

    Asiaciti Trust Cook Islands & Nevis – Rarotonga, Cook Islands

     

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    Product Details

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    Section of Real Property, Trust and Estate Law

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