Law Office of Thomas J. Swenson

Integrated International Asset Protection, Wealth Building and Estate Planning Intellectual Property

  • TAX-EFFICIENT WEALTH BUILDING AND ASSET PROTECTION

    The term “asset protection” broadly includes building and preserving wealth, as well as protecting it against creditors. Private placement life insurance (PPLI) provides a vehicle for tax-free growth and tax-free transfer of wealth in complete compliance with U.S. tax law in addition to providing a life insurance benefit in case of death.  Life insurance investments grow tax free.  When PPLI is owned by an irrevocable life insurance trust (ILIT), policy proceeds are paid free of income and estate taxes upon death of the insured. Thus, an ILIT eliminates all taxes legally.

  • INSURANCE POLICY PROTECTION

    Private placement life insurance (PPLI) allows tax-free growth in separate  policy accounts holding hedge funds or other high-return investments. Because assets in PPLI are in separate accounts, they are protected against insolvency of the insurance company.  When an irrevocable life insurance trust owns the policy, the policy and its proceeds are protected against unforeseen future creditors of the insured and beneficiaries.  Foreign PPLI typically has a minimum premium commitment of $1 million.

  • ENHANCED GROWTH AND PROTECTION OFFSHORE

    Captive insurance companies, life insurance and deferred variable annuity (DVA) policies in Liechtenstein, the Cook Islands, Bahamas, and other offshore jurisdictions can be designed for full compliance with U.S. tax laws to maximize tax saving and wealth building advantages. These offshore vehicles generally allow greater flexibility and range of investments than US-based entities. Fees and minimum premium commitments are usually much less than in the U.S. Asset protection is stronger than possible in the United States, especially when an offshore trust owns the assets.

  • WEALTH ACCUMULATION AND TRANSFER

    Allocation of exemptions for gift and estate tax and generation-skipping transfer tax (GSTT) to an irrevocable life insurance dynasty trust make it possible to avoid income, capital gains, gift and estate taxes perpetually.  With gift and GST tax exclusions currently set at $5 million, now is the time to fund a dynasty trust.  Ownership of a captive insurance company (CIC) by a dynasty trust protects the CIC and provides efficient generational wealth transfer.  Many techniques and strategies are available for integrating tax-efficient accumulation, preservation and transfer of wealth.

Welcome

The Law Office of Thomas J. Swenson provides custom legal services in intellectual property law, business planning and integrated asset protection.  Clients benefit from careful attention to their legal, business and financial concerns.

Knowledge of foreign and domestic trusts, business entities, financial products and tax laws enables innovative crafting of integrated asset protection, wealth building, tax saving, estate planning (wealth transfer) structures.  For example, in full compliance with U.S. tax laws, an international irrevocable life insurance trust (ILIT) holding private placement life insurance (PPLI) provides a life insurance benefit, offshore asset protection, tax free investment growth, tax free policy withdrawals and loans, and wealth transfer free of income, estate and generation skipping transfer (GST) taxes.  With lifetime gift tax and GST tax exclusions set at $5.1 million in 2012, now is the time to fund a dynasty trust.  A U.S. business owner or high net-worth individual can start a section 831(b) “captive insurance company” to reduce taxes, build and transfer wealth, and improve insurance coverage.

WARNING AND DISCLAIMER
Except as may be specifically described in a fully-executed client engagement letter, Thomas J. Swenson is not your attorney and you will not rely upon him for any advice, counsel or suggestions.
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