If it is determined that the client does owe taxes, Mr. Cohen can assist in resolving the debt when payment in full is not possible. The type of bankruptcy that may be feasible is a function of the type of taxes owed, the age of the liability, and whether the client is an individual or a business entity. Mr. Cohen also represents clients interested in estate planning and asset protection planning. Although tax neutral, asset protection planning is concerned with preservation of wealth by creating legitimate hurdles future creditors must go through before they can collect on a judgment or claim. Estate planning is concerned with passing as much of that wealth to heirs at the lowest tax cost.
Probate avoidance is a prime consideration.
When appropriate, offshore entities can be utilized to maximize the client's asset protection strategies. Proper choice of entity is an essential ingredient in any business plan. Mr. Cohen will assist the client in making the proper choice given the client's business objectives. Mr. Cohen will organize the entity on behalf of the client. Mr. Cohen has represented both debtors and creditors in adversary proceedings.