Captive Insurance: Business, Estate Planning, and Asset Protection Considerations
Best Practices for the Creation and Utilization of an 831(b) Alternative Structure
Recording of a 90-minute CLE webinar with Q&A
This CLE course will prepare estate planning counsel to leverage tax and asset protection benefits for clients by using captive insurance companies or a private insurance model. Our expert panel will provide best practices that are within IRS guidelines and safe harbors for structure and implementation through real-world examples in various industries.
Outline
- History of captives and 831(b) architecture
- Why form a captive?
- Gift, asset protection and estate tax planning techniques
- The non-831(b) alternative: Private Insurance
- What is Private Insurance
- Types of insurable risks of a Private Insurance Structure
- Segregated Asset Plans
- 831(b) captives vs. Private Insurance
- Puerto Rico: The Ideal Domicile
Benefits
The panel will review these and other essential questions:
- How do captive insurance companies provide estate planning benefits?
- What are the requirements of IRC 831(b) to form a captive insurance company? How does it apply to small and mid-size businesses?
- What are the non-831(b) alternatives to captive insurance?
- What are the advantages of Private Insurance over a self-insured plan?
- What should counsel consider in choosing an appropriate domicile?
- How can you appropriately maximize a captive as an asset protection vehicle?
Faculty
Rodney H. Piercey
Partner
Piercey & Associates
Mr. Piercey has been serving affluent and high net worth clients with estate planning, asset protection and tax... | Read More
Mr. Piercey has been serving affluent and high net worth clients with estate planning, asset protection and tax elimination planning. For more than half of his career, he has been designing customized plans for cutting and/or eliminating taxes for this same client base. Featured in “Chicago’s Top Rated Lawyers” magazine; Mr. Piercey has also been quoted in the Chicago Tribune and been interview on radio and TV concerning estate planning and tax issues. As a leader in developing creative and comprehensive legacy strategies for protecting wealth and assets, he received the AV Preeminent™ rating by Martindale Hubbell® Peer Review Ratings™ – the highest rating for an attorney’s legal ability and professional ethics.
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Mark Sims
President of Global Business Development
Captive Alternatives
Mr. Sims has more than 25 years of experience in risk management and insurance consulting, and focuses on the use of... | Read More
Mr. Sims has more than 25 years of experience in risk management and insurance consulting, and focuses on the use of Private Insurance for insuring the catastrophic business risks and employee benefits programs of medical groups, business owners in many sectors, and other high net worth groups throughout the United States. He is a charismatic and popular professional speaker on the use of Private Insurance for risk management, asset protection, wealthy preservation and exit strategies. Mr. Sims is a member of the Captive Insurance Companies Association and the Self Insurance Institute of America. He has extensive working experience with tax attorneys, estate planning firms and other trusted advisors to high net worth business owners and families, and frequently provides customized webinars to advisor groups who want to learn about Private Insurance and the Puerto Rico solution.
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Robert K. Wold, AFIS, CLCS
Senior Risk Management Consultant
Carl E. Mellen & Co.
Mr. Wold serves as Senior Risk Management Consultant for the firm. He has more than 10 years of experience in financial... | Read More
Mr. Wold serves as Senior Risk Management Consultant for the firm. He has more than 10 years of experience in financial and insurance-related risk. He provides industry-leading guidance on competitive and comprehensive risk transfer products. Prior to joining HUB, Mr. Wold was Vice President, Surety and Risk, with Hub International.
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