We can also help you with international variable life insurance and international variable annuities with reputable companies in secure offshore jurisdictions.  In addition to being well protected, because they have different commission structures and are not subject to certain U.S. taxes, offshore life insurance policies and annuities can be significantly less expensive than comparable products offered in the United States.

What Asset Protection Planning Is Not

Asset protection planning does not involve tax evasion or anti-IRS theories.  All of our asset protection planning  is done with full IRS compliance and disclosure.  Our asset protection advice is not "cookie-cutter" planning as with many asset protection "kits" available cheaply from dozens of providers via seminars or the Internet.  Our asset protection advice is formulated on a case-by-case basis.  We benefit from a wide network of informal professional contacts in the U.S. and in offshore jurisdictions from whom we can seek help and advice as situations warrant.

Neither does legitimate asset protection planning does not involve hiding money offshore and using offshore credit card accounts.  While it is a bit more difficult to track protected assets offshore than in the U.S., if you rely mainly on offshore secrecy to protect assets, you will likely soon find you and your assets parted.

Offshore Planning

We also offer counseling and advice in the general area of offshore planning.  We can assist clients and other attorneys, as co-counsel, with offshore business structures and offshore estate planning structures, including offshore trusts and offshore variable life insurance policies and variable annuity contracts which are compliant with U.S. tax laws, offer a wider range of investment opportunities, and are often available at lower costs than comparable U.S. policies for policies with total aggregate premiums of over $100,000.

Why Use Mayer & Riser, PLLC for Offshore Planning and Asset Protection Planning?

A Web search will reveal hundreds of offshore service providers offering various offshore tax planning and asset protection schemes, as well as company formation services.  Why should you choose Mayer & Riser, PLLC over one of these potentially cheaper alternatives?

First, our clients receive competent and comprehensive U.S. tax advice.  Most reputable offshore service providers specifically disclaim the U.S. tax consequences of their structures and suggest that you seek the advice of U.S. tax counsel.  Less reputable offshore service providers will claim that their plans are set up in jurisdictions where there are no income taxes, no capital gains taxes and no death taxes.  While true - for that jurisdiction - the U.S. tax consequences are entirely different.

There is no simple way to avoid taxes offshore that cannot be done onshore.  There are sophisticated means that work for legitimate businesses, but there are not "offshore only" ways for the average investor, holding marketable securities and acting alone, to avoid income taxes on investment income.  The most predatory offshore service providers will simply lie and tell you that for whatever reason, there are no U.S. taxes due on their preferred type of offshore vehicle ("you don't own the company - you're just the manager;" "you don't owe taxes on offshore trust income;" "the Panamanian foundation is a separate legal entity without any owners, so you don't pay taxes on its income," etc.).  Bad tax advice can have grave consequences.  Willful tax evasion and willful failure to file required information returns are, of course, serious crimes that can and do result in massive fines and imprisonment.  Even worse, for some, may be the fact that relying on the tax advice of an incompetent advisor may not even keep you out of serious trouble - at best, it can  result in the imposition of hundreds of thousands of dollars or more in fines and interest, and at worst, fines and imprisonment. 

Second, our advice is backed up by two million dollars of professional liability insurance.  Mayer & Riser, PLLC and its members individually are insured under Lawyers Mutual Insurance Company of North Carolina Policy No. 0010884/16 in the amount of $5,000,000.00.  You can view our firm's Policy Declarations Page online.  Don’t hesitate to ask an offshore service provider how you are protected against faulty advice and to fax or mail to you a copy of the declaration page from their current professional liability insurance policy.  If your prospective service provider balks at this inquiry or never complies with your request, look for another service provider.

Please Read Before Continuing

The materials found at this site, including these materials on asset protection planning and offshore planning, are for general informational purposes only. The information provided herein is not warranted to be accurate or current and must not be regarded as legal advice. Transmission of information from this site is not intended to create, and receipt does not constitute, an attorney-client relationship. All legal and tax planning is very fact- and circumstance-specific, asset protection planning and offshore planning, in particular. Internet subscribers and online readers should not act upon this information without seeking professional advice. You should consult a lawyer if you have a legal matter requiring attention. For further information, please contact us.

Mayer & Riser, PLLC does not seek to represent you based upon your visit or review of these materials. The hiring of a lawyer is an important decision that should not be based solely upon brochures, advertising or other promotional materials.  Before you decide, ask us to send you free written information about our qualifications and experience.

U.S. citizens should always consult a competent tax attorney or CPA before implementing any planning involving domestic or foreign structures.  Mayer & Riser, PLLC will offer asset protection and offshore planning services only to clients who are committed to full U.S. tax compliance.