Law Office of Thomas J. Swenson
U.S. and International Wealth Building and Wealth Preservation
Legal and U.S. Tax-Law Compliant

DYNASTY TRUSTSCAPTIVE INSURANCERETIREMENT & ESTATE PLANSELDER LAW

OFFSHORE ASSET PROTECTIONINTERNATIONAL LLCsPRIVATE PLACEMENT LIFE INSURANCEMEDICAID TRUSTS

IRREV. LIFE INS. TRUST (ILIT)PRE-NUPTIAL PLANSINTELLECTUAL PROPERTYBUSINESS PLANNING

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Tax-Advantaged Wealth Building and Retirement Planning for Business Owners and Executives

Business owners can use a variety of techniques for wealth building and retirement planning.

Some of these techniques are familiar,  qualified benefit plans, such as 401(k) and 403(b) programs.

Less common are efficient defined-benefit and cash balance plans.

Premium-financed life insurance is usually overlooked, but it can be a great wealth-building and retirement tool for owners, executives and key employees (as well as provide a death benefit).

Entities

Small business owners and entrepreneurs may choose to do business using one or more separate entities.

Typical entity types include:

Corporation (C-Corp) — Domestic & foreign
Subchapter-S-Corporation (S-corp)
Limited liability company (LLC) — domestic & foreign
Limited Partnership (LP)
Irrevocable trusts — domestic & foreign

Factors for selecting an entiy include:

Suitability for various wealth-building and retirement planning

Avoidance of personal liability (asset protection)
Tax-law compliance and tax minimization
Business management
Business buy-sell agreements between owners
Transfer of ownership interests to third parties
Generational transfers of ownership interests (estate planning)