A recent article in the New York Times provides a reminder of how flexible and versatile limited liability companies have become.
Facebook CEO Mark Zuckerberg and his wife recently announced that they would eventually give away 99% of their shares
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LLC Provides Better Asset Protection Than an S Corp
S Corporations and LLCs are both “pass through” entities for federal income tax purposes. That is, owners are taxed on dividends/distributions; but the entity itself is not subject to federal income tax. And, as I mentioned in previous posts –on
Consider Protecting Your Family’s Assets with a Dynasty Trust
A “dynasty trust” is a trust that is structured to preserve assets for multiple generations. Assets continue to be held in trust (rather than being distributed directly to beneficiaries). This is not a vehicle to protect your assets from your
Nevis Is Good Choice For Offshore LLC
Nevis (a small island in the Caribbean) is currently a good choice for an offshore limited liability company. Nevis recently amended its LLC Ordinance to better limit fraudulent transfer claims, and also to make it more difficult to enforce foreign
Ohio Appeals Court Says LLC Must Identify Its Members
Some states require public disclosure about LLC owners/managers/officers and others do not. Ohio is one of the states that requires no such public disclosure.
But keep in mind that ultimately, a creditor can always discover who the owners and managers
Majority of Public Companies Continue To Incorporate In Delaware
A front page article by Liz Hoffman in Monday’s Wall Street Journal noted that some companies are convinced Delaware is less of a corporate haven than it used to be. Some companies feel the state has become less hospitable toward
UVTA Includes Important Provisions About “Insolvency”
Your ability to transfer assets for asset protection purposes depends to a great extent on whether or not you are “insolvent” at the time of a transfer. Insolvency is generally defined in terms of your ability to pay your debts
Uniform Fraudulent Transfer Act is Now the Uniform Voidable Transactions Act
In 2014, the National Conference of Commissioners on Uniform State Laws adopted several amendments to the Uniform Fraudulent Transfer Act (UFTA). Over 40 states have enacted some form of the UFTA, and most will likely in due course adopt the
Growing Awareness of Ohio as a Top Asset Protection Jurisdiction
It has been a little more than two years since Ohio became one of the top asset protection jurisdictions in the United States. Many people — including many attorneys–are still not fully aware of this dramatic development. But word is
Obligations as a Guarantor Could Hinder Your Asset Protection Options
Signing a personal guaranty for your business or a relative can have a variety of financial implications. It can also limit your asset protection alternatives. Asset protection planning frequently involves the transfer of assets. An asset transfer will be a “fraudulent conveyance”