The Tax Question

For well over a hundred years, US citizens and many foreigners have utilized Offshore Trusts for Asset Protection Planning purposes.  Often times when individuals hear mention of offshore structures, they think of a scheme designed to avoid taxation reporting.  Legitimate Offshore Planning, however, has nothing to do with tax evasion.  Tax evasion is a felony in the United States and it is not and should not be the objective of any good citizen.  Offshore tax schemes have given Offshore Planning a bad name, but there is nothing wrong with setting up an offshore structure for Asset Protection Planning purposes.  Such structures are usually tax neutral, but do require substantial reporting and compliance with IRS forms and regulations.  Filing these documents, however, is not that a big of a burden if one has the proper CPA and legal advisor.