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Course Details

Course Information
  • smart_display Format

    On-Demand

  • signal_cellular_alt Difficulty Level

    Intermediate

  • work Practice Area

    Estate Planning

Date & Time
  • event Date

    Tuesday, October 17, 2023

  • schedule Time

    1:00 p.m. ET./10:00 a.m. PT

  • timer Program Length

    90 minutes

Credit Information

  • This 90-minute webinar is eligible in most states for 1.5 CLE credits.

  • BARBRI is a NASBA CPE sponsor and this 110-minute webinar is accredited for 2.0 CPE credits.

$297.00
CLE
CPE
ALL

This CLE webinar will provide estate planners with a comprehensive guide to drafting offshore asset protection trusts as part of an integrated estate plan. The panel will discuss the key practical concerns of structuring offshore trusts, such as choice of trust situs, powers that reside in the trustee, use of LLCs or other entity structures to hold assets within the trust, and bankruptcy challenges to offshore trusts, as well as offer specific drafting tools and suggestions for maximizing the asset protection function of the trust.

Faculty

Craig S. Redler
Attorney
Law Offices of Craig S. Redler

Mr. Redler has held positions with Amicorp in its offices in Auckland New Zealand and Miami Florida, and Southpac Trust International, Inc. with offices in the Cook Islands and Tauranga New Zealand. His responsibilities included serving as Trustee for off-shore trusts settled by high net-worth clients along with structuring bank accounts throughout various countries in Europe and Asia. He is presently based in Newport Beach CA where he is in private practice specializing in Asset Protection Planning for entrepreneurs, athletes, entertainers, HNW and UHNW families from all over the world.

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Description

While offshore planning often connotes thoughts concerning “tax avoidance” and other abuses, these vehicles can play an important role in protecting assets as part of an integrated estate plan. Offshore trusts, in particular, can provide heightened asset protection from potential third-party challenges such as lawsuits or divorce.

A popular misconception is that offshore vehicles are only available to the very wealthy; in fact, any person with assets to protect would be well-advised to explore the possibility of an offshore trust. There are a number of foreign jurisdictions that offer greater asset protection advantages than those provided by U.S. law.

The mechanics of setting up an offshore trust are similar to U.S. trusts, but there are some challenges specific to foreign trusts. Selecting the appropriate jurisdiction as the trust situs is critical to structuring an asset protection trust. Verifying that the offshore situs has stable banking institutions, well-established asset protection laws, and an efficient banking industry are just a few important factors an adviser must do as part of a foreign trust establishment.

Listen as our experienced panel provides practical guidance on leveraging the benefits and risks of establishing an offshore asset protection trust. Advisers must ensure that trust transfers do not run afoul of the U.S. grantor trust rules. Additionally, taxpayers and advisers must also be aware of the U.S. tax reporting regime for foreign trusts.

Outline

  1. Structure of offshore trusts
  2. Trust protector provisions
  3. Choice of situs and jurisdiction considerations
  4. Risks in LLC structures held offshore

Benefits

The panel will discuss these and other important topics:

  • What protections will offshore asset trusts provide that U.S. trusts will not?
  • What statutory and judicial protections should advisers look for in selecting a situs for an offshore asset protection trust?
  • What creditor protections will offshore trusts provide--and what protections won't they provide?