Category

Asset Protection

• Asset Protection

  Lawsuit Closes BasketballTown

  Posted by Derek Rowley on 03.20.09 | Permalink | Comment?

• Asset Protection

  Nevada or Wyoming incorporation? No Contest.

  Posted by Derek Rowley on 02.07.09 | Permalink | Comment?

  Promoters of Wyoming incorporation have started to make brazen claims that Wyoming offers better asset protection benefits than Nevada.  This is a fair comparison for analysis, since the claim can be measured against the standards set by Nevada in three  specific areas of corporate asset protection.
  Corporate protection consists of three separate factors.  The relative [...]

• Asset Protection

  11 Ways to Protect Yourself in Business

  Posted by Derek Rowley on 02.02.09 | Permalink | Comment?

  Business 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 [...]

• Asset Protection

  Business litigation trends to increase in 2009

  Posted by Derek Rowley on 11.10.08 | Permalink | Comment?

  The fifth annual survey of litigation attorneys on corporate litigation issues conducted by the law firm of Fulbright & Jaworski was released last month, showing an increase in the expectations that litigation disputes will increase in 2009.  According to the study, an astonishing 17% of all privately-held companies, and 9% of all small companies have [...]

• Asset Protection

  $388 million verdict against California Franchise Tax Board

  Posted by Cort Christie on 10.13.08 | Permalink | Comment?

  Gilbert Hyatt is quite a remarkable man.  In 1968, he advanced the concept of the integrated circuit when he developed the method for including all the pieces necessary to operate a computer - other than the memory and interface - in one place.  In 1970, he applied for a patent for a computer microprocessor.
  While [...]

• Asset Protection

  Piercing the Corporate Veil in California

  Posted by Cort Christie on 10.06.08 | Permalink | Comment?

  Stephen M. Bainbridge is arguably the brightest mind in the field of corporate law in California.  He is the William D. Warren Professor of Law at the UCLA School of Law, and has written extensively about all aspects corporate law.  Not to be stereotyped as a high-brow elitist intellectual, Professor Bainbridge maintains a family of [...]

• Asset Protection

  Nevada adopts Charging Order protection for closely-held corporations

  Posted by Derek Rowley on 06.14.07 | Permalink | Comment?

  Governor Jim Gibbons signed SB 242 into law today, providing exciting new asset protection benefits to closely-held Nevada corporations that are not available anywhere else: Charging Order Protection!!

  In every other state, stock is an asset that can be attached by a creditor that obtains a judgment against a stockholder. This means that corporate stock can [...]

• Asset Protection, Tax & Accounting

  Husband & Wife Ownership of LLCs in Community Property States

  Posted by Derek Rowley on 10.14.06 | Permalink | Comment?

  I 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.

  The LLC makes a lot of sense as the entity of choice for couples who are involved in real estate transactions [...]

• Asset Protection

  Garnishment: Another Good Reason for Incorporation

  Posted by Derek Rowley on 09.18.06 | Permalink | Comment?

  I have written a great deal about the advantages of incorporation over the years.   A corporation creates a separate legal entity whose assets and liabilities are separate from any individual - it can be an effective asset protection tool to separate the risks of business from our personal assets.  However, I recently discovered a fascinating [...]

• Asset Protection, Strategic Thinking

  Average U.S. corporation juggles 37 lawsuits

  Posted by Derek Rowley on 02.09.06 | Permalink | Comment?

  I 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 [...]

• Asset Protection

  Charging Order Taxation

  Posted by Derek Rowley on 04.04.05 | Permalink | Comment?

  The law firm of Riser Askisson, LLP published several years ago an authoritative article on the truth about the taxation of charging orders held by judgment creditors.  The article, titled Tax Consequences of Charging Orders:  Is the K.O. by the K-1 K.O.’d by the Code?, originally appeared in the Winter 1999 edition of the Asset Protection [...]

• Asset Protection

  Teed-off golfer who lost teeth to errant ball bites back

  Posted by Cort Christie on 12.05.04 | Permalink | Comment?

  Link: Teed-off golfer who lost teeth to errant ball bites back.  Points out the need for asset protection planning:  you never know when lightning is going to strike!
  - Derek Rowley