Mastering Offshore Trusts: Origins, mechanics, mistake prevention, and asset protection strategies (2024 Edition)

Jay D. Adkisson
Blake Harris
Craig S. Redler
Jay D. Adkisson | Adkisson Pitet LLP
Blake Harris | Blake Harris Law
Craig S. Redler | Law Offices of Craig S. Redler

On-Demand: May 9, 2024

Mastering Offshore Trusts: Origins, mechanics, mistake prevention, and asset protection strategies (2024 Edition)

$245.00 3 hour CLE

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Program Summary

Session I – Navigating Offshore Trusts: Origins, mechanics, and legal battles – Jay Adkisson

Delve into the intricate world of offshore trusts with this informative session. From their historical evolution to their basic functioning and the legal challenges they face, this exploration provides a comprehensive overview. Discover the motivations behind the establishment of offshore trusts, how they operate at a fundamental level, and the ways in which creditors have attempted to navigate the legal landscape to access assets held within these structures.

Key topics to be discussed:

  • Evolution of Offshore Trusts
  • Fundamentals of Offshore Trust Operation
  • Legal Challenges and Creditor Attacks

Session II – 10 Mistakes to Avoid When Working with Offshore Trusts – Blake Harris

Offshore Trusts have become more prevalent to practitioners over the years. Many have come across offshore Asset Protection Trusts and/or Offshore Pre-Immigration Tax Planning Trusts. Both types of Offshore Trusts are very sophisticated and require special attention to detail to avoid serious mistakes when drafting and implementing the same.

Key topics to be discussed:

  • Not Knowing All the Facts
  • Not Understanding What “Irrevocable” Means
  • Not Understanding the Specific Provisions of the Trust
  • Not Properly Funding the Trust
  • Not Doing Corporate Due Diligence
  • Not Knowing Your Offshore Trustee
  • Not Choosing the Proper Jurisdiction
  • Not Understanding the U.S. Reporting Requirements
  • Not Taking into Account Family Needs
  • Not Considering a Change of Mind

Session III – Offshore Asset Protection Trusts: What you need to know and why you want to add these to your practice – Craig Redler

This webinar will provide Attorneys new to the field the foundation for adding a valuable service to your practice, and experienced practitioners with a comprehensive guide to drafting offshore asset protection trusts as part of an integrated estate plan. The speakers will discuss the key practical concerns of structuring offshore trusts, such as choice of trust situs, powers that reside in the trustee, use of LLCs or other entity structures to hold assets within the trust, and fraudulent transfer concerns, as well as offer specific drafting tools and suggestions for maximizing the asset protection function of the trust.

Key topics to be discussed:

  • What Protections Will Offshore Asset Trusts Provide That U.S. Trusts Will Not?
  • What Statutory and Judicial Protections Should Advisers Look for In Selecting a Situs for An Offshore Asset Protection Trust?
  • What Creditor Protections Will Offshore Trusts Provide - And What Protections Won't They Provide?

This course is co-sponsored with myLawCLE.

Closed-captioning available

Speakers

Jay D. Adkisson_FedBarJay D. Adkisson | Adkisson Pitet LLP

Jay D. Adkisson is a managing partner of Adkisson Pitet LLP and is admitted to practice in Arizona, California, Nevada, Oklahoma and Texas. A 1988 graduate of the University of Oklahoma College of Law with honors, and a member of the Oklahoma Law Review, Jay has twice been an expert witness to the U.S. Senate Finance Committee and is the Forbes.com writer on wealth preservation issues. He has served as an ABA Advisor to the drafting committees of the Uniform Voidable Transactions Act, the Uniform Protected Series Act, the Uniform Registration of Canadian Money Judgments Act, and the Uniform Public Expression Protection Act. He has also served as the Chair of the American Bar Association Committees on Captive Insurance and Insurance and Financial Products. His books include Asset Protection Concepts & Strategies (McGraw-Hill 2004), Adkisson’s Captive Insurance Companies (iUniverse 2007), the Charging Order Practice Guide (Am.Bar.Assoc. 2018), and Anti-SLAPP Law Modernized: The Uniform Public Expression Protection Act. Jay is an honorary member of the California Association of Judgment Professionals, and a Hall of Fame member of the National Association of Estate Planning Councils. His law practice is primarily in the area of creditor-debtor litigation, including the attack and defense of sophisticated asset protection structures, plus some limited consulting in the area of asset protection planning.

 

Blake Harris_FedBarBlake Harris | Blake Harris Law

Blake Harris is the founding principle at Blake Harris Law, where he assists clients throughout the world with Asset Protection. Blake’s extensive experience helping families protect their property has made him well regarded as an authority in handling the difficult and sensitive issues surrounding asset protection planning.

Blake founded Blake Harris Law because he is passionate about helping families protect their wealth and pass it to the next generation. Not only does he value building long-lasting client relationships, but he also strives to provide each client with peace of mind about their assets.

In addition to his active practice, Blake also strives to share his in-depth knowledge to help other professionals advance in their careers. Across the nation, Blake has given numerous presentations and continuing education lectures on asset protection and estate planning to CPAs, financial advisors, and other attorneys. Blake has been quoted in state-wide and national publications, such as ABC, NBC, CBS, Fox News, The Denver Post, and Market Watch, and he has been named a “Rising Star” for 2020, 2021, and 2022 by Super Lawyers Magazine. Blake is also the author of the book “Asset Protection, How to Protect Your Property from Lawsuits”.

Blake is the founder of the Blockchain Asset Protection Council and an active member of the American Bar Association and International Bar Association. Blake has been a member in good standing of the Florida Bar since 2010 (Florida Bar number: 86486) and the Colorado Bar since 2013 (Colorado Bar number: 45942).

Outside of work, Blake enjoys traveling and spending time with family.

 

Craig S. Redler_FedBarCraig S. Redler | Law Offices of Craig S. Redler

Craig S. Redler has held positions with Amicorp in its offices in Auckland New Zealand and Miami Florida, and Southpac Trust International, Inc. with offices in the Cook Islands and Tauranga New Zealand. His responsibilities included serving as Trustee for off-shore trusts settled by high net-worth clients along with structuring bank accounts throughout various countries in Europe and Asia.

Redler was most recently with the Jeffrey M., Verdon Law Group in Newport Beach California. Prior to that, he was an original shareholder of the Law Offices of Redler & Seigel, P.C., an estate planning, tax planning and trust administration law firm serving the St. Louis metropolitan area. Prior to forming this firm, he was a litigator with Goffstein, Raskas, Pomerantz, Kraus & Sherman, L.L.C. in St. Louis.

Redler has also served as a Legislative Assistant to the Honorable Richard A. Gephardt, Majority Leader, U.S. House of Representatives, and was Systems Engineer for EDS/GM in Detroit Michigan, in addition to being a talk-radio host. He earned his B.S./B.A degree from the University of Missouri, Columbia and his J.D. degree from the Washington University School of Law.

Redler is admitted to practice in California, Missouri, and Illinois. He also is admitted to practice before the U.S. District Court, Eastern District of Missouri; U.S. District Court, Southern District of Illinois; and the U.S. Court of Appeals for the 8th Circuit. He has earned the prestigious designation of Trust and Estate Practitioner (TEP) from the Society of Trust and Estate Planners (STEP) where he serves on the Board of Directors for the Orange County California chapter.

Agenda

Session I – Navigating Offshore Trusts: Origins, mechanics, and legal battles | 11:50am – 12:50pm

  • Evolution of Offshore Trusts | 11:50am – 12:10pm
  • Fundamentals of Offshore Trust Operation | 12:10pm – 12:30pm
  • Legal Challenges and Creditor Attacks | 12:30pm – 12:50pm

Break | 12:50pm – 1:00pm

Session II – 10 Mistakes to Avoid When Working with Offshore Trusts | 1:00pm – 2:00pm

  • Not Knowing All the Facts | 1:00pm – 1:05pm
  • Not Understanding What “Irrevocable” Means | 1:05pm – 1:10pm
  • Not Understanding the Specific Provisions of the Trust | 1:10pm – 1:20pm
  • Not Properly Funding the Trust | 1:20pm – 1:25pm
  • Not Doing Corporate Due Diligence | 1:25pm – 1:30pm
  • Not Knowing Your Offshore Trustee | 1:30pm – 1:40pm
  • Not Choosing the Proper Jurisdiction | 1:40pm – 1:45pm
  • Not Understanding the U.S. Reporting Requirements| 1:45pm – 1:50pm
  • Not Taking into Account Family Needs| 1:50pm – 1:55pm
  • Not Considering a Change of Mind| 1:55pm – 2:00pm

Break | 2:00pm – 2:10pm

Session III – Offshore Asset Protection Trusts: What you need to know and why you want to add these to your practice | 2:10pm – 3:10pm

  • What Protections Will Offshore Asset Trusts Provide That U.S. Trusts Will Not? | 2:10pm – 2:30pm
  • What Statutory and Judicial Protections Should Advisers Look for In Selecting a Situs for An Offshore Asset Protection Trust? | 2:30pm – 2:50pm
  • What Creditor Protections Will Offshore Trusts Provide – And What Protections Won’t They Provide? | 2:50pm – 3:10pm