Prologue
Chapter 1 The Problem
Illustration Page 1
Discussion, Need to Consider Litigation Risk Page 4
Chapter 2 The Ethics of Protective Planning
Illustration Page 15
Discussion, Striking a Civilized Balance Page 15
Chapter 3 The Cornerstone Concept
Illustration Page 21
Discussion of Debtors' Prisons Page 22
Chapter 4 The Core Issue
Illustration Page 27
Discussion of Fraudulent Transfer Risk Page 27
Chapter 5 The Attack Tools
Illustration Page 35
Discussion of Enforcement of Judgments Page 35
Chapter 6 The Background, Domestic Estate
Planning
Illustration Page 49
Discussion of Standard Estate Planning Methods Page 50
Chapter 7 The Domestic Asset Protection
Plan
Illustration Page 135
Discussion of U.S. Trusts and Other Tools Page 136
Chapter 8 The Background, Your Offshore Option
Illustration Page 145
Discussion:
Background Page 147
Conflict of Laws Page 147
The Rationale for Foreign Trusts Page 155
The Scams Page 156
Foreign Bank Accounts Page 160
Foreign Corporations Page 167
Foreign Trusts Page 187
Foreign Investments Page 189
Chapter 9 The Conventional Wisdom
Illustration Page 191
Discussion of the Most Common Strategy in the Marketplace Page
193
Chapter 10 The Enlightened Plan
Illustration Page 199
Discussion:
The Logic Page 208
Renouncing Citizenship Page 210
The Homestead Exemption Page 212
Real Estate (Equity Reduction, Conveyance) Page 213
The Limited Liability Company Page 216
The Land Trust Page 222
The Business Trust Page 227
The Business or Practice Page 235
The Controlled Foreign Corporation Page 238
The Revocable Foreign Trust Page 239
The Irrevocable Non-Grantor Foreign Trust Page 251
Chapter 11 Taxation of Foreign Trusts
Illustration Page 257
Discussion: Background Page 258
Grantor Trust Taxation Page 260
Non-Grantor Trust Taxation (Simple) Page 264
Non-Grantor (Complex) Page 266v Reporting Requirements for
the Foreign Trust Page 269
Chapter 12 The Payoff
Illustration Page 273
Conclusion Page 279
Appendices:
Appendix A. Graphic Illustration (Trust)
Page 281
Appendix B. A Survey of Selected Offshore Financial Centers:
Netherlands Antilles Page 284
Bermuda Page 288
Cayman Islands Page 293
Bahamas Islands Page 298
Turks and Caicos Islands Page 301
British Virgin Islands Page 306
Panama Page 310
Switzerland Page 315
The Netherlands Page 321
Luxembourg Page 324
Channel Islands Page 328
Isle of Man Page 331
Gibraltar Page 336
Liechtenstein Page 339
Hong Kong Page 342
Singapore Page 346
Cook Islands Page 348
