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The Bellinger Case - Offshore Asset Protection Trust Defeats Creditor's Claim

Author: Jacob Stein • Tags: asset protection, lawsuit, offshore • Posted on: Jun 11, 2014

In a recent Federal court case (in the Southern District of Florida), a North Carolina bank attempted to reach the assets sequestered by a debtor in an offshore trust. The bank?s attempt was thwarted by the District Court.

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Using Trusts to Protect Assets in a Divorce

Author: Jacob Stein • Tags: asset protection, california, divorce, family, living trust, planning, trust • Posted on: May 21, 2014

Marriage is entered into with optimism and good faith, but it is almost careless not to prepare for the possibility of a marriage breakdown.

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Bitcoin: Asset Protection

Author: Jacob Stein • Tags: asset protection • Posted on: Apr 11, 2014

Bitcoin is a digital or virtual currency that uses peer-to-peer technology for the payment of goods and services. It is an internet-based currency that was established in 2009, and has experienced such exponential growth that companies such as eBay and Overstock now accept it as a form of payment.

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Individuals and Businesses Prepare For FATCA Deadline

Author: Jacob Stein • Tags: foreign, tax law • Posted on: Feb 20, 2014

Individuals and Businesses Prepare For FATCA Deadline

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U.S. Congress Goes After Apple, or Is It Ireland?

Author: Jacob Stein • Tags: foreign, offshore, tax law • Posted on: Jun 03, 2013

Senate hearings about Apple's alleged tax avoidance have been in the news the last few weeks. News stories abound, describing how Apple generates billions of dollars in profits overseas, using a chain of entities set up in Ireland, pays no U.S. income taxes on those profits and pays almost no income taxes in Ireland. The alleged scandal is so delicious, few reporters passed it up.

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Your Government Wants Your Money!

Author: Jacob Stein • Tags: asset protection, bank, offshore, swiss banks • Posted on: May 03, 2013

The economic downturn we have experienced over the past few years have made sovereign states desperate for your money. We have seen a wide push by many developed nations, most notably U.S. and Germany, to pursue "offshore" wealth.

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Citizenship for Sale in the Caribbean

Author: Jacob Stein • Tags: asset protection, foreign, investment, irs, offshore, planning, tax law • Posted on: Feb 12, 2013

Here is an interesting article from AP about citizenship for sale in the Caribbean. Most nations sell citizenship, or at least permanent residence with a path to citizenship (including the U.S. and many EU nations) - Caribbean nations make it very affordable. We have helped our clients obtain citizenship in various countries, mostly in East Caribbean. The need for a second citizenship is usually fueled by tax planning (i.e., the client is planning to surrender primary citizenship) or politics (if you may need to flee Russia or Saudi Arabia someday, you need a second passport). Costs and difficulty of obtaining second citizenship varies by country, but in all cases the most important consideration is the ability to travel using the second passport. For example, an individual holding a U.S. or a Schengen passport may travel most anywhere in the world without a visa. The same is not true for citizens of many Caribbean nations.

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Gift Now!

Author: Jacob Stein • Tags: estate planning, estate tax, family, living trust, tax law • Posted on: Nov 09, 2012

With Democrats retaining control of the White House and of the Senate it is very unlikely that there will be an extension of the current $5 million exemption for transferring assets to children by gift or on death. On January 1, 2013 the exemption drops to $1 million and the tax rate goes up from 35% to 55%. We strongly encourage all of our clients (and all taxpayers) to gift today and take advantage of the $5 million exemption before it disappears. The difference between what you children will get if you plan today, versus putting it off until 2013 is literally in the millions. Gift Now!

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IRS Announces Third Amnesty Program for Offshore Accounts

Author: Jacob Stein • Tags: asset protection, irs, offshore • Posted on: Jan 09, 2012

The Internal Revenue Service today reopened the offshore voluntary disclosure program to help people hiding offshore accounts get current with their taxes and announced the collection of more than $4.4 billion so far from the two previous international programs.

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Rumor Heard: Sweeping Settlement with Swiss Banks

Author: Jacob Stein • Tags: asset protection, swiss banks • Posted on: Oct 24, 2011

There is a rumor going round that the Swiss banks may enter into a sweeping settlement with the U.S. government to settle civil claims.  The banks will hand over names of thousands of U.S. clients and pay billions of dollars.  The settlement will not cover criminal charges pending against several Swiss and Israeli banks.

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Jacob Stein was able to navigate a treacherous world financial system, steering me to a prosperous and safe harbor. He is very knowledgeable on some very complex and sophisticated legal issues. I recommend him without a hesitation and will continue to use him as my lawyer for years to come.

— Steven Lund, Hawaiian Sanctuary Retreat Center, Big Island of Hawaii

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