Riser Adkisson LLP Attorneys  
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PLANNING COMPLIANCE LITIGATION

 

Practice Areas*

PLANNING

ASSET PROTECTION

Beneficiary-Taxed Irrevocable Trust

Billing & Collection Company

Closely-Held Insurance Company

Domestic Asset Protection Trusts

Family Limited Partnerships

Foreign Asset Protection Trusts

Modular Asset Protection

Nevada Corporation and LLC Remediation

Non-Qualified Personal Residence Trust

RetireZ Non-Qualified Private Retirement Plan

Series LLC

Synthetic Roth

Xtreme LLC
 

CAPTIVE INSURANCE

ESTATE PLANNING

INTERNATIONAL PLANNING

TAX PLANNING
 

COMPLIANCE

FINANCIAL DUE DILIGENCE

SECURITIES COMPLIANCE
 

LITIGATION

JUDGMENT COLLECTION

AND CREDITOR-DEBTOR

COMMERCIAL LITIGATION

SECURITIES LITIGATION

 

* Please note that no attorney of the firm has sought board certification by any state as a specialist in any area of practice, and no attorney of the firm claims to be a specialist in any practice area.

 

 

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BILLING & COLLECTION COMPANY ( BICOCO )

A Billing & Collection Company ( BICOCO or "Bee-Koh-Koh" ) is a company that is inserted between a business and its customers to facilitate the billing and collection of accounts receivables. The company is used to lawfully divert profits from the business. The goal is to keep the business from accumulating profits that would be available to creditors of the business.

The BICOCO can also be structured with other planning such that the diverted profits are moved outside of the business owner's estate.

The BICOCO is a much preferred alternative to so-called Accounts Receivable Financing Programs a/k/a Leveraged Compensation Arrangements, since there is no interest cost, nor is the client forced into purchasing an annuity as collateral. And unlike Accounts Receivable Financing Programs, the BICOCO does work to provide substantial asset protection and wealth accumulation advantages.

The BICOCO Advantages

Traditional

A/R Financing Programs

Accounts receivable are protected from creditors

Protection is highly uncertain

Future receivables are also protected

Protects existing A/Rs only -- no protection for future receivables after creditor executes on existing A/Rs and forces foreclosure

No loan / Credit unaffected

Program requires loan of significant percentage of value of A/Rs. Substantial credit must be used to obtain the loan that will purchase the annuity product

No payments required / No effect on liquidity, and wealth built up in the BICOCO may be used to solve short- or long-term liquidity needs

Monthly payments required whether business has liquidity to make payments or not, and liquidity is reduced by amount of loan payments

No third-party can discontinue the arrangement

Bank can call loan on A/R financing program at any time, thus causing the program to terminate and exposing assets

Not a fraudulent transfer

Usually a fraudulent transfer

Significant potential estate tax advantages

Value of plan trapped in owner's estate

Not a tax shelter

Where business is deducting the interest paid on the loan, this is possibly a tax shelter

No requirement to purchase any life insurance or annuity product

Purchase of annuity or life insurance product absolutely required to provide loan collateral

Easy to unwind

Difficult to unwind / promoters usually charge significant fees upon termination

It is these reasons why the BICOCO has become the preferred choice among sophisticated clients and advisors to the deeply-flawed A/R financing programs. 

The BICOCO is available to new and existing clients of our firm. Please contact us for more information.

 

 
The All-Time Bestseller
on Asset Protection Planning
by Jay Adkisson and Chris Riser
Asset Protection:
Concepts & Strategies,
by Jay D. Adkisson
and Christopher M. Riser
 

Available at

Amazon.com and Barnes & Noble
- - - - - - - - - - - - - -
 
The All-Time Bestseller on
Captive Insurance Companies
by Jay Adkisson
Captive Insurance Company Book
Adkisson's Captive
Insurance Companies,
by Jay D. Adkisson
 
Available at
 Amazon and Barnes & Noble 

 

 

NEW CLIENTS

Those desiring to be clients of the firm should call

949.629.1176

to schedule a brief free call with a partner of the firm. We do not answer general questions by phone. General questions directed to the firm should be e-mailed to:

questions  >at<  risad.com

 

 

 

 

 

© 2008 by Riser Adkisson LLP. All rights reserved. This website may not be reproduced in whole or in any part without the express written permission of Riser Adkisson LLP.  The firm's attorney who is responsible for this website is Jay Adkisson. Issues regarding this website should be directed to Mr. Adkisson by fax to 877.698.0678 or by mail to 100 Bayview Circle, Suite 210, Newport Beach, CA 92660.

Riser Adkisson LLP does not practice in any jurisdiction unless one its attorneys has been admitted to practice there, or an attorney of the firm has been properly admitted pro hac vice according to the local court rules of that state. Nothing in this website should be construed to be any advertisement for legal services directed to a state wherein Riser Adkisson LLP is not admitted to practice. Nothing in this website is any substitute for the services of a licensed attorney in the relevant jurisdiction.  Persons resident in a state where Riser Adkisson LLP does not have an attorney regularly admitted to practice law should consult with their own local licensed attorney about that attorney retaining Riser Adkisson LLP to assist the local attorney with any client matters that such attorney believes our services and advice would be helpful.

The information given in this website does not constitute legal or accounting advice or opinion, and should not be relied upon for any planning purposes. It is provided solely and exclusively for general, non-specific educational purposes, and to advise the reader of the nature of the services offered individually by us. Planning of this nature is necessarily very circumstance-specific and therefore it would be dangerous to apply the very general rules described herein to any singular fact-pattern. Prudence demands that you consult with an experienced professional licensed in your state before attempting any of the planning techniques described herein. Additionally, the information given in this website is not meant to be a substitute for legal representation. You should consult with your local attorney regarding your suitability for the techniques stated herein under your local laws.

Except as may be specifically described in a fully-executed client engagement letter, Riser Adkisson is not your counsel and you will not rely upon Riser Adkisson LLP for any advice, counsel or suggestions as to the proposed or actual tax treatment of any transaction. Likewise, Riser Adkisson LLP does not make any guarantees or assurances in connection with any product, transaction or strategy discussed by Riser Adkisson LLP. Prudence demands that you retain independent professional tax counsel to objectively advise you on any tax consequences of any product, transaction or strategy discussed by Riser Adkisson LLP. Prudence also demands that you retain appropriately qualified and independent tax professionals to advise you of your tax compliance and reporting requirements.