Cleaning up offshore accounts isn’t over after you file with the IRS. Prevent future legal hassles by planning your estate with a wealth management team.
Jeffrey S. Freeman, J.D., LL.M
Chances are if you didn’t disclose your offshore account on your taxes there are other legal ramifications beyond your tax responsibilities. Filing the correct returns, FBARs, and paying penalties to the IRS all need to be done, but the work of actually cleaning up your assets does not stop there.
After you clean up your tax situation you want to start planning for the future and if appropriate bring offshore funds back to the USA, especially if they were only kept abroad for tax evasion purposes. It’s not a fun topic, but what happens to your foreign assets when you die? Foreign funds are especially difficult for family members to get a hold of and there are additional tax dilemmas they will face.
This is the beginning of business planning, estate planning, and wealth planning. Just as you want a professional to ensure that you file your tax forms correctly you want an equally qualified team ensuring that your wealth is not going to be taken by unforeseen taxes after your death.
Choosing One Team
Using the same legal team for your current legal issues and preventing future challenges ensures that your legal counsel is consistent and all communications are shared across the team, making sure the right hand knows what the left is doing. More than just representing clients before the IRS, Freeman Tax Law has CPAs, attorneys, and an entire wealth management team on staff to handle your legal needs. In house accountants provide skilled experience with tax matters and wealth management teams are well versed in all tax opportunities to effectively protect your funds.
With offices all around the country, Freeman Tax Law can travel to a location nearest you. Mr. Freeman is used to traveling as often as needed and utilizing technology to keep constant communication with clients. As a boutique law firm specializing in tax matters Freeman Tax Law is able to work with clients from any background and located anywhere.
About Freeman Tax Law
Freeman Tax Law (FTL) is a boutique law firm consisting of a multi-disciplinary team of tax professionals including tax attorneys, CPAs and a professional staff that have vast experience with foreign tax compliance and regulatory matters for financial institutions. FTL consults with both FFIs and USFIs with regard to Foreign Account Tax Compliance Act (FATCA) and related regulatory matters and assists them developing procedures on how to comply with these laws. FTL provides a multidisciplinary approach for filing offshore voluntary disclosures. Working to help clients prevent future tax headaches we offer a complete wealth management and estate planning team. As an experienced firm with wide reach, Freeman Tax Law provides immediate assistance to our clients planning for and resolving all tax related challenges.
Freeman Tax Law