Estate planning tactics look to become a hot political issue this election cycle. The Daily Mail reports on rumors that former Gov. and Republican Presidential Candidate Mitt Romney may have a small fortune in offshore bank accounts. Of course, affluent Democrats and Republicans alike engage in estate planning, including some controversial tactics. Having an offshore bank account or trust is perfectly legal assuming that the formalities and tax reporting requirements are followed. But in politics, facts often matter less than perceptions, feelings, and opinion. If I can help you with questions about trusts, estate planning, or offshore bank accounts, please call me at your convenience.
(c) 2012, Stephen M. Johnson, Esq.