Tag: Tax

IRS Investigates Abusive Trusts

Howard Rosen, Esq. • April 1, 1997

For years we have been writing that offshore asset protection trusts do not offer any income tax advantages for United States citizens or residents. We have been constantly concerned about unfavorable “fallout” and/or (typical) legislative overreaction when one or more of these schemes backfired

Tenancy by the Entireties: Protection No More!

Howard Rosen, Esq. • September 1, 1996

This issue was scheduled to be a review of Barbados. However, a decision in a recent case which may put at risk certain “do-it-yourself” protection techniques was handed down, and is discussed in this issue.

Limited Liability Companies: Ready for Prime Time?

Howard Rosen, Esq. • May 1, 1995

Limited liability companies are being utilized more and more as one state after another adopts a version of a limited liability company statute. A Uniform Limited Liability Company Act was proposed in August, 1994, but as of this writing, no state has adopted it.

Offshore Trusts: A Closer Look

Howard Rosen, Esq. • February 1, 1995

The use of offshore trusts in asset protection planning was briefly discussed in Volume I, Number 4. In this issue we will take a more detailed look at how and why offshore trusts are used in asset protection planning, the tax consequences of utilizing an offshore trust in your planning, and the circumstances under which the technique may not be used.

Selecting an Offshore Jurisdiction for the APT

Howard Rosen, Esq. • January 1, 1993

Selecting the jurisdiction in which the Asset Protection Trust (“APT”) will be located is a very important step. Consideration must be given to a number of factors at that location.

Commonly Asked Questions About Asset Protection – Part Two

Howard Rosen, Esq. • November 1, 1992

This is the second of two issues devoted to commonly asked questions about asset protection. Among the questions addressed last month were those relating to the significant protection afforded through the use of the family limited partnership.