by Christine | Nov 16, 2012 | Asset Protection, Partnership, Small Business |
If you have an arrangement that might be viewed as a partnership, the safer course is probably to get a partnership agreement drafted or more likely form an LLC and have an operating agreement drafted. There are quite a few ways of structuring a business entity. But...
by Christine | Oct 17, 2012 | Asset Protection, Trusts |
Sometimes you may hear “revocable trusts provide no asset protection” — however, this is only half-true. Trusts are powerful devices. In fact, even “revocable” trusts can afford valuable protection. Consider the case of Frank and Geryl Pearl, as reported in a...
by Christine | Oct 12, 2012 | Asset Protection, Corporate Formation, Small Business |
How you go about handling the situation [of a business partnership split-up] can mean the difference between an amicable split, where you run the business as you see fit, and a messy divorce, in which you wind up losing money, clients, resources or other critical...
by Christine | Aug 2, 2012 | Asset Protection |
The exception oftentimes proves the rule. This can be especially true in a court of law or to any prudent planner protecting their assets. Certainly, this is the lesson to learn from the recent bankruptcy case of In re Thomas, 2012 WL 2792348 (Bkrtcy.D.Idaho, Slip...
by Christine | Jun 22, 2012 | Asset Protection, Entity Structure, Partnership |
Charging Order Challenge Successful If a creditor’s remedy is restricted to a charging order, that means that the creditor cannot get at the assets of a partnership or LLC, right? Wrong. Most business owners seek to protect their personal assets from problems arising...
by Christine | Jun 15, 2012 | Asset Protection, Bankruptcy, Debtor/Creditor |
If property is absolutely and totally exempt from creditors, there is no way that creditors can get at that property, right? Wrong. In re Wilson illustrates how the misconduct of a debtor can allow a creditor to get at exempt assets. The law between creditors and...
