Seminar Agenda and Highlights

Mr. Rosen is a nationally-recognized estate planning attorney focusing on asset protection planning strategies. He is also the founding author of the BNA Tax Management Portfolio treatise, "Asset Protection Planning." This presentation will focus on the essential considerations of asset protection planning, with particular emphasis on one of the most powerful planning tools in use today: the foreign asset protection trust.

While cash and securities may be relatively mobile, many forms of valuable assets -- real estate and operating businesses , for example -- cannot be physically relocated to a protective jurisdiction. Ms. Donlevy-Rosen will provide a detailed overview of the latest innovations in financing techniques to help protect immoveable assets, including the Real Estate Equity Investment Strategy offered exclusively by the Southpac Group.

Offshore planning strategies require careful attention to tax reporting requirements and important income and estate tax consequences. Mr. Share will cover (i) choice of holding entity issues and planning from a U.S. tax standpoint, (ii) the U.S. reporting requirements for trusts, settlors, and beneficiaries with respect to transfers, distributions, income, and underlying assets, (iii) certain U.S. "income tax traps" applicable to offshore trusts and how to avoid them, and (iv) the use of offshore trusts for pre-immigration planning for foreign persons contemplating a move to the United States. Special attention will be directed at recent initiatives to bring unreported offshore structures into compliance with IRS and Treasury Department requirements.

Moderator Jeffrey Verdon founded one of the premier boutique asset protection law firms with a national client following. Along with fellow panelists, Mr. Verdon will discuss the the requisites of the competent asset protection practice. In addition to advice for attorneys seeking to break into the business, insight will be offered on innovative marketing techniques for the experienced practitioner.

If you think an offshore asset protection trust alone is sufficient to protect assets, think again. Sophisticated creditors increasingly seek to bypass the trust and proceed against debtor assets wherever found. Mr. Howley will provide an overview of offshore banking and investment management services, the infrastructure behind "offshore" custody arrangements, and the best methods for protecting selected assets of an offshore trust.

As asset protection structures become increasingly sophisticated, so do the efforts of determined and deep-pocketed creditors to overturn these structures. Mr. Sullivan, an attorney with Sullivan & Sullivan, Ltd., frequently presents on asset protection strategies. He has represented a key witness in one well-known case involving a Cook Islands trust, served as lead civil defense counsel in one of the earliest suits involving a Cook Islands trust, and has advised clients in connection with many different types of offshore transactions . Mr. Sullivan will review domestic and international fraudulent transfer laws, the techniques creditors use to challenge asset protection structures, and the methods attorneys may undertake to better protect client assets from unanticipated creditors.

If a trust is not properly designed, the trust may be penetrated, allowing a creditor access to the trust assets. Just as important as the design, however, is the trust’s proper funding and administration. To protect the assets of a well-designed trust, the trust must be funded and administered in a manner that does not detract from the protective nature of the trust. Mr. Brown will discuss the principle of separateness and how it affects the funding and administration of trust plans. This presentation will cover the administrative formalities that must be followed (i) when transferring assets into the trust, (ii) while administering the trust; and (iii) when making distributions from the trust.

Increasingly, attorneys are being called upon to form international business entities for their business and estate planning clients. Many asset protection clients use an offshore international business company (IBC) or limited liability company (LLC) to hold assets. Mr. Grant will review the various forms of business entities available in foreign jurisdictions, how to form them, and what protections they may or may not provide clients. The presentation will include a review of the 2008 Cook Islands LLC Act which implements some of the most asset protective laws found in any LLC act anywhere in the world.

We are pleased to introduce James A.F. Wadham, Managing Director of the Fiduciary and Consulting Group. Mr. Wadham is the author of an acclaimed treatise on trust law and the driving force behind many innovations in offshore planning over the past two decades. The Fiduciary and Consulting Group features offices in Hong Kong, Samoa, St. Lucia, the Philippines, Switzerland, and Uruguay.

The reception offers an invaluable opportunity for attendees to meet with colleagues, exchange business cards, and dialog with conference speakers in a relaxed setting. Conference Co-Chair Neal B. Rubin of Rochdale Offshore Investment Management will introduce the 2010 members of the Southpac Board of Advisors at this event.

Mr. Rosen is a nationally-recognized estate planning attorney focusing on asset protection planning strategies. He is also the founding author of the BNA Tax Management Portfolio treatise, "Asset Protection Planning." Mr. Rosen will conduct this special clinic on practical drafting skills and solutions needed to address the challenges uniquely presented in asset protection planning.

The offshore asset protection trust is one of several devices to be considered as part of a comprehensive asset protection plan. Mr. Barth will discuss several other techniques for protecting clients assets and the circumstances under which these techniques should be considered, including state exemption statutes, domestic asset protection trust laws, domestic LLCs, and qualified personal residence trusts (QPRTs). This presentation will also discuss applicable protection techniques for specific types of assets such as S corporation stock.

Confronted with higher taxes and litigation risks in the U.S., many high net worth clients are seeking a safe haven for investment assets offshore. Offshore life insurance and annuities offer a unique level of tax benefits for U.S. persons. Mr. Henderson, an attorney with Duggan Bertsch L.L.C., is a frequent speaker and lecturer on international business and tax planning matters. His presentation will focus on the fundamental income and estate tax principles that make life insurance and annuities favored products for wealthy families.

Establishing a trust or LLC is only the beginning of a comprehensive asset protection plan. The attorney and client must carefully weigh the advantages of offshore banking and select an appropriate custodian for trust or LLC assets. For example, many clients often find out too late in the planning process that they cannot obtain foreign bank account services due to litigation concerns back in the U.S. Mr. Rubin, Managing Director of Rochdale Offshore Investment Management, will be joined by a panel of leading experts in international banking to discuss the mechanics, due diligence considerations, and compliance requirements involved with establishing foreign bank accounts for asset protection planning clientele. Panelists will also discuss recent efforts by international banks to shut out high-risk U.S. clients and the latest initiatives by the IRS and Treasury Department to force disclosure of foreign bank accounts.

Captive insurance companies have been used in effective offshore tax planning for decades. With time, attorneys have discovered more uses and broader planning situations for captive insurance strategies. Messrs. Wadham and Strauss will uncover the latest planning techniques for using offshore insurance products in conjunction with captive carriers, including cell captives, to provide life insurance or commercial cover in a tax-mitigated environment.

Many attorneys do not fully understand the concept of duress under Cook Islands or Nevis law, and how events of duress affect the administration of asset protection trusts. In this panel discussion, Mr. Brown will be discuss the concept of duress along with other finer points of trust design and practice, including various forms of carve-out clauses (aka "Jones clauses") for trust clients who need to provide for known creditors.

Recent efforts by the Internal Revenue Service and the OECD to curb harmful tax practices have made offshore planning all the more challenging, with potential pitfalls for the uniformed practitioner. Mr. Rubinger will discuss recent legislation and enforcement initiatives designed to curb offshore tax evasion, and what practitioners need to know to keep their clients in compliance.

Asset protection planning is fraught with pitfalls for both the client and the attorney. In certain states, attorneys may be subject to civil liability, ethical sanctions, or potential criminal liability for assisting with fraudulent transfers. Ms. Donlevy-Rosen will provide an overview of the ethics regulations that govern attorneys when advising clients on asset protection planning. The discussion will cover methods that attorneys can use to protect themselves from this exposure, including undertaking adequate due diligence on their clients.