Archive for Asset Protection
11 Ways to Protect Yourself in Business
Posted by: | CommentsBusiness is riskier than ever these days. The economy is a mess, credit markets are tight, taxes are high – and likely to go higher, the courts are clogged with frivolous lawsuits, and attorneys seem to rule the world. What can you and I do about it? Fortunately, we can do quite a bit to protect ourselves in this business environment. Here are 11 ways: Read More→
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The Problem with Series LLCs The new, Series LLC abandons the comforts of asset protection precedent, and introduces a new, completely untried and untested concept into which uninformed promoters and unwary business owners are stumbling. The Series LLC is an exciting new development in business entity law that is currently getting a lot of attention...... -
Protecting Your Credit in Economic Decline The "credit crisis" has become ubiquitous. It is being blamed for everything from home foreclosures to a plummeting stock market. Many individuals and most businesses are feeling the pinch from the credit markets today. Which is precisely why it is so important to carefully manage and protect your personal and......
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Husband & Wife Ownership of LLCs in Community Property States
Posted by: | CommentsI am frequently asked about the impact of a husband and wife owning the membership interest in an LLC in a community property state. It is and interesting issue that is unresolved in many respects.
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Related Posts - The Problem with Series LLCs The new, Series LLC abandons the comforts of asset protection precedent, and introduces a new, completely untried and untested concept into which uninformed promoters and unwary business owners are stumbling. The Series LLC is an exciting new development in business entity law that is currently getting a lot of attention......
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Anna Nicole Smith: A legacy of not planning for the future There is an Associated Press article on Law.com about the mess that Anna Nicole Smith left behind for her estate. In addition to the paternity suits, DNA tests and jurisdictional wars between the Bahamas and the U.S., there is also the highly personal tragedy of an infant daughter who......
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Average company juggles 37 lawsuits
Posted by: | CommentsI don’t know how I missed this one, but I’m glad I finally ran across it: the international law firm of Fulbright & Jaworski L.L.P. (whose company slogan is “When you think litigation insight, think Fulbright), released their second annual Litigation Trends Survey last October. It is a fascinating, 32-page glimpse at the impact of runaway litigation on the economy. Here are some interesting facts from their findings:
Related Posts - Family LLCs: Sharing the Wealth For years promoters have touted the use of Family Limited Partnerships (FLP) as a tool for owning and protecting assets and providing a mechanism for passing them on to the next generation. The FLP has been used so frequently that it could lead one to the impression that the FLP......
- It's Only a 5% Discount! Here is a worthwhile piece of advice from Sierra Management Solutions on the potentially devastating impact of discounting on your company's bottom line: Problem: The CFO was worried. For the past six months the company's margins had been dropping and now they were at the point where something had to......
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