The more you know, the better your plan

When we first started in this business, opening a foreign bank account was considered "going offshore". In the decades since, our clients tend to do a lot more. More asset types. More real estate. More money invested internationally.

For quite some years, we've worked with American clients buying, holding, and selling real estate in Panama—especially in the hot spots of Panama City, Boquete, David, and more recently, Coronado.

For our business at least, Italy has been a popular place for Americans looking to settle in Europe. A wonderful laidback lifestyle that appeals to people wanting out of the rat race.

Perhaps the most aggressive tax strategy I’ve ever come across was the person who declared themselves a church in order to lower their tax bill. (Spoiler alert: The IRS did not agree.)

No one likes to think about death. But if you have a family, friends, or charities that you care about and want to leave things to when you pass, it's important to plan.

A client told me someone recently tried to sell him a Cook Islands offshore trust. He wanted my feedback.

We recently put together a Wyoming LLC for a married couple who had just completed our Private Wealth planning service. They have been buying properties in a popular expat jurisdiction and are looking for a way to protect these assets from domestic claims.

We work with a lot of independent business owners and entrepreneurs across the spectrum. Many of their plans are very different from each other. But when it comes to "foundational" tax planning, a solo 401(k) retirement account often plays a part.

There are many tax opportunities for the ultra-wealthy. There are also some good options for people with smaller nest eggs. But what if you're in the middle -- you earn a good living or have at least $500,000 in savings and want to save on tax?

Over the years, I've heard some "great in theory, not in practice" planning ideas. Many are taken from a proven tool and warped into something that just doesn't work well anymore. Captive Insurance is one of those things.

Last week, one of our Private Wealth planning clients asked about a dynasty trust. She'd read that it let people pass their wealth onto their children, grandchildren and generations beyond tax-free. Virtually forever.

A client called me a few weeks ago. He wanted to know the best way to avoid the new Corporate Transparency Act, which makes Anonymous LLCs in the US a thing of the past.