In order for any asset protection exemption or planning technique to be effective, it needs to be implemented before the event giving rise to a third party creditor’s claim has occurred. If a person waits until there is an actual specific threat of liability to a third party, then utilization of the foregoing exemptions or [...]
The techniques described here are means of titling or transferring property to make it immune from creditors’ claims against the owner personally. Effective use of these techniques is at all time subject to the exceptions for fraudulent transfers and conversions. The following discussion is a summary only. If you would like more information about these [...]
The exemptions discussed below are privileges or rights granted by law to a debtor to enable him or her to retain a portion of his or her property free from judicial seizure and sale to satisfy the claims of the debtor’s creditors. Effective use of these exemptions is at all time subject to the exceptions for [...]
For operating businesses that own real estate–office space, warehouses, etc.–common advice is to put ownership of the property in a separate company. The goal is to shield the property from judgment creditors of the operating business. This isn’t bad advice, but as with everything in life, there are costs. Obviously, there are the costs of [...]
For some, it is important that their relationship with an LLC–either as member or manager–is kept private. This post takes a quick look at how three popular states for the formation of LLCs–Nevada, Delaware and Florida–stack up on issue of privacy. Nevada: Premium Privacy, Premium Cost. Nevada promotes itself as offering strong privacy protection, but [...]
Christy Roman Now Marketplace President & Chief Executive Officer 1511 East S.R. 434 Suite 2001 Winter Springs, FL 32708 contact@nowmarketplace.com www.nowmarketplace.com ”Consumer trends have drastically shifted online and many enterprises are still operating with a 1990s Internet model,” said Roman. “Business owners shouldn’t think of the Internet as a utility like a telephone. It’s [...]
A growing law firm recently asked me to prepare a Shareholders’ Agreement for its two shareholders. Making this request unusual is the fact that the shareholders are married to one another. Do married shareholders need a Shareholders’ Agreement? I think it’s a good idea. The prospect of divorce is one reason married shareholders might want [...]
As Stephanie Strom recently wrote in The New York Times (“One-Fourth of Nonprofits Are to Lose Tax Breaks“), it’s now more important to ever to be sure about the the tax-exempt status of charitable organizations before making a contribution. Here’s the synopsis: At midnight on May 15, an estimated one-fifth to one-quarter of some 1.6 [...]
Married couples need wills, even if most of their property is owned as tenants by the entireties (TBE) or joint tenants with right of survivorship (JTWROS). This point is clear from the following situation: Husband and Wife are married with four children (one of whom is 19, and the other three are under 18). All [...]
“Synergy.” “Joint venture” is a generic buzz term referring to any business activity carried on with the active involvement of more than one company or person who share the profits or losses. Importantly, the term “joint venture” means something different to everyone. Proposing a joint venture is the beginning of the negotiation, not the end. [...]