Patricia Donlevy-Rosen & Howard Rosen will be among the presenters at the the BFI Inner Circle Forum 2019 to be held at the Green Valley Ranch Resort in Henderson, Nevada, September 26 – 28, 2019. Patricia will discuss the special strategies required to implement asset protection for real estate and Howard will discuss offshore wealth protection trust strategies.
On July 10, 2003, Alaska amended its 1997 Alaska Trust Act (the “2003 Bill”) in an effort to stay in the forefront of the growing list of states seeking to generate trust business by providing settlors with creditor protection and estate freeze legislation. This type of legislation attempts to rival that offered by certain offshore jurisdictions. The 2003 Bill makes Alaska more attractive as an domestic asset protection situs. As a state in the United States, however, Alaska falls short of providing the ultimate protection offered by certain offshore jurisdictions – lack of U.S. court power to upset asset protection planning.
Financially savvy US clients with sizable portfolios look to shield their investments from unexpected market fluctuations by portfolio diversification, and from creditor attacks by using asset protection plans that include offshore trusts. They may also seek to minimize the tax impact of their investments through the use of annuity products. Having a client’s offshore trusts purchase appropriate offshore deferred variable annuities can achieve the desired diversification and performance, while minimizing the current tax burden and diminishing threat of future litigation.