Articles

An Overview of Offshore Annuities in Wealth Preservation Strategies

Howard Rosen, Esq. • November 17, 1999

Combining a carefully selected offshore annuity with a properly designed offshore trust can provide a powerful asset protection planning option.

Domestic Asset Protection Trusts: Do They Work?

Howard Rosen, Esq. • September 17, 1998

Many seminars and articles of late have introduced and discussed the concept of domestic asset protection trusts. This is primarily a result of “protective” trust legislation enacted in 1997 by Alaska and Delaware (Missouri has also enacted such legislation, but has not promoted it as have Alaska and Delaware). But is this domestic planning effective?

Internal Revenue Service Targets Abusive Trust Arrangements

Howard Rosen, Esq. • July 17, 1997

Attorneys, accountants, and other professional advisors need to be aware of the significant “abusive trust arrangements” that may be solicited to clients and that may be subject to significant penalties announced in a recent IRS notice.

Poorhouse Prevention

Howard Rosen, Esq. • January 17, 1997

Litigation in our society is a popular tool for the accumulation of wealth – by plaintiffs and their attorneys, who often take cases on a contingency basis. Attorneys handle lawsuits if there is any basis for a claim, and, most importantly, if there is a source of funds from which they will be paid. Asset protection planning makes the source of such funds minimal at best. If you think you do not need to secure your wealth, ask yourself: Am I absolutely certain that I will never be sued? And, if by some chance I am sued, that I will be fairly treated by our justice system? Most will answer “No!”, and wonder what they can do. Asset protection planning is the answer.

Married Couples Face Major Setback in Shielding Assets from Creditors

Howard Rosen, Esq. • December 13, 1996

Juan E. Planas, a recent Florida bankruptcy case, changed the rules of the game for married individuals hoping to save their assets if one spouse declared bankruptcy. Before that case was decided, if you owned properties with your mate in what is termed “tenants by the entirety”, you could be reasonably comfortable that those properties would be safe from your spouse’s creditors if he or she ever declared bankruptcy.

Offshore Trusts Can Create Legal Obstacle Course for Claimants

Howard Rosen, Esq. • October 17, 1996

Consider the thought processes of your claimant’s attorney contemplating an action to recover assets from a trust in a foreign country. He knows nothing of the country’s geography, laws, procedures, costs, or even its currency. These factors become immediate hurdles in a legal obstacle course upon which he is about to embark.