Offshore asset protection planning is a niche legal practice requiring extensive knowledge in the applicable areas of state, federal, and international law.
Because many practitioners lack the necessary experience in drafting foreign trust agreements (as well as the knowledge of related tax implications and various offshore jurisdictions), we find that co-counsel relationships benefit the referring attorney as well as the client.
Benefits of a co-counsel relationship with Donlevy-Rosen & Rosen, P.A. include:
- Confidence in our planning. We will respect you as the client’s primary attorney and lead on the planning. Our qualifications and years of experience in the field of offshore asset protection planning will enhance the value of your services.
- Keep your client’s business. The risk with referring a client to another attorney is that you lose that client’s business. Our only practice area is offshore asset protection planning. As such, we will not try to poach additional business from your client.
- Reduce malpractice liability. Inexperienced attorneys may expose themselves and their clients to preventable liability. As with many areas of practice, the absence of a recommended clause, or a subtle nuance in language, can mean the difference between success and failure. When a poorly implemented/drafted structure fails, the client looks to the attorney for compensation.
- Expeditious implementation. An attorney preparing his/her first asset protection trust will be required to invest significant time in research and drafting – time that your client may not have. While you are “re-inventing the wheel”, your client may be sued or encounter some other event that would preclude the implementation of the planning. Once again, you have exposed yourself and your client to preventable liability.
- Meet ethical requirements. The model rules of professional conduct, adopted by most state bars, require an attorney to practice only in areas where he/she is competent. Competency is measured by a lawyer’s “requisite knowledge and skill”, “training and experience in the field in question”, and the “complexity and specialized nature of the matter.” Practicing in the field of asset protection planning without these requirements can be considered unethical conduct, and subject to disciplinary proceedings.
- Earn fees on the planning. Your participation in the planning process will entitle you to a commensurate portion of the legal fees earned on the project.
The American Bar Association and the Florida Bar permit co-counsel arrangements. We encourage attorneys to consult with their state bar prior to entering into a co-counsel agreement with another attorney.
We invite you to contact us so we can discuss a mutually beneficial relationship.