Captive insurance companies: how business owners can benefit

Posted on February 22, 2011 by Bill Faiferlick

As the government targets business owners and wealthy individuals, a tried and true opportunity to reign in over-taxation is through a captive insurance company. Today, Captives are no longer just reserved for the wealthy. Bill Faiferlick and his guest, Pat Felix a tax and estate attorney, will discuss captive insurance companies, how they work and their benefits. Find out how they are increasingly being used by business owners and high net worth individuals. Captive Insurance Companies offer an alternate form of risk management, asset protection and enhanced tax relief that is becoming a more practical and popular means through which individuals can protect themselves financially while having more control over how they are insured.

Guest:
Patrick J. Felix, Tax and Estate Planning Attorney, US

Mr. Felix practices estate planning through the law firm of Patrick J. Felix III, P.C. in Florida, Pennsylvania, Ohio and West Virginia and through Patenaude & Felix, APC in San Diego, California. Mr. Felix earned his J.D. in 1984 from the Duquesne University Law School in Pittsburgh, Pennsylvania and his LL.M. in 1986 (masters in taxation) from the Georgetown University Law Center. For 25 years, Mr. Felix has practiced tax and advanced estate planning specializing in living trusts, irrevocable life insurance/gifting trusts, dynasty/ generation-skipping trusts, family limited partnerships, charitable giving, the integration of retirement benefits into an estate plan and the utilization of domestic and international life insurance for advanced estate planning. Mr. Felix has hosted his own radio show and has also authored numerous articles and was a contributing author to The Life Insurance Answer Book.