Law Office of Thomas J. Swenson

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

  • KEEP YOUR WEALTH: TAX-EFFICIENT WEALTH BUILDING AND ASSET PROTECTION

    An irrevocable life insurance trust (ILIT) is a 100% efficient tax shelter that eliminates all taxes legally. In addition to providing a life insurance benefit, private placement life insurance (PPLI) enables tax-free investment growth and tax-free family wealth transfer in complete compliance with U.S. tax law.  When owned by an ILIT (a type of dynasty trust), PPLI policy proceeds are paid free of estate and GST taxes upon death of the insured. For ways to reduce business income taxes up to 50%, see the CAPTIVE INSURANCE page.

  • LIFE INSURANCE POLICY PROTECTION

    Private placement life insurance (PPLI) allows tax-free investment growth in separate  policy accounts, especially investment portfolios holding hedge funds or other short-term 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 Bahamas, and other offshore jurisdictions can be designed for full compliance with U.S. tax laws to maximize tax saving and wealth building benefits. These offshore vehicles generally have greater funding and investing flexibility than US-based entities. Fees and minimum premium commitments are less than in the US. Asset protection is also stronger, especially when an offshore trust owns the asset.  Offshore structures combine benefits of legal tax shelters with enhanced protection... Read→

  • 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 makes 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.  Tax shelters and dynasty trusts can be combined to achieve tax-efficient accumulation, preservation and transfer of wealth.

Welcome

The Law Office of Thomas J. Swenson provides custom legal services for tax-efficient wealth building and preservation, international asset protection, business planning and intellectual property law.  Clients benefit from careful attention to legal, business and financial matters.

Knowledge of offshore trusts and business entities (e.g., LLCs), U.S. tax laws and legal tax shelters enables innovative crafting of integrated wealth building and wealth preservation structures.  For example, in full compliance with U.S. tax law, an international ILIT (irrevocable life insurance trust) 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 generational wealth transfer free of income, estate and generation skipping transfer (GST) taxes.  With individual lifetime gift tax and GST tax exclusions currently set at $5+ million, now is the time to fund an ILIT dynasty trust.  For U.S. business owners, a section 831(b) “captive insurance company” can eliminate up to $600,00 of income tax, improve business insurance coverage, and provide valuable asset protection.  When a CIC lowers the owner’s tax bracket beneath threshold levels, the owner pays less tax on capital gains and investment income.  A Belize LLC can provide asset protection like a trust, at a fraction of the cost, without being irrevocable.

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.
Attorney ethics rules require telling you that this is an advertisement.  Allowing access to this website does not constitute the practice of law.
Internal Revenue Service Circular 230 Disclosure: As provided for in Treasury regulations, advice (if any) relating to federal taxes that is contained in this website (including attachments and links) is not intended or written to be used, and cannot be used, for the purpose of (1) avoiding penalties under the Internal Revenue Code or (2) promoting, marketing or recommending to another party any transaction or matter addressed herein.
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