Today’s guests are Keith Langlands, CPA who is the owner of Synergy Captives Strategies LLC and co-owner of the recently formed Synergy Insurance LLC, and Chris Jarvis, who is the President and Founder of Jade Risk and the author of fourteen books, including ““Wealth Secrets of the Affluent”.

Listen as R. J., Keith & Chris discuss the following topics:

 

  • What is an insurance captive?
  • Why would someone consider forming a captive?
  • What are the limitations of a commercial insurance policy and how does a captive insurance company help to coordinate with a commercial insurance contract?
  • Who qualifies for a captive – and is it only for large, Fortune 500 companies?
  • How does a captive potentially save an owner money?
  • Where can you set up an insurance captive – and does it matter whether it is domestic vs. outside of the U.S.? Does California allow for captives vs. Vermont vs. other states … how do you decide?
  • Why has the IRS named certain aspects of captives on their “Dirty Dozen” list of abusive tax strategies … and what are the implications and “work-arounds”?
  • How to set up a captive correctly and avoid getting into trouble by avoiding certain specific activities or potentially abusive actions
  • Capital formation requirements … how much money does it take to set up and run annually, and does that amount change with location of domicile or the number and size of actual insurance claims?
  • Are there additional benefits of an insurance captive besides risk sharing and creating a fund for potential claims or expenses (such as estate planning, reducing taxable income, asset protection, etc.?)
  • Various case studies of actual client situations that were able to utilize captives for saving money in health care costs, worker’s compensation, kidnaping or other more difficult to establish insurance protection

 

Tune in for answers to the above topics and more!

R. J. Kelly is the Founder and Chief Visionary Officer of the Wealth Legacy Group, Inc. in San Diego, CA.  Learn more about R. J. and Wealth Legacy Group atwww.wealthlegacygroup.com.  Contact R. J. at (800) 975-5355 or rj@wealthlegacygroup.com.

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