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Asset Protection for Business Owners: some basic ideas

Asset Protection for Business Owners: some basic ideas

The most frequent questions I receive from business owners relate to asset protection. Common sense and a little extra care can do wonders to provide significant protections for the business owner and the business. I was recently contacted by a business owner regarding these things–namely, asset protection for himself and his business. He wanted to […]

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rules to govern the LLC–why a customized operating agreement matters

rules to govern the LLC–why a customized operating agreement matters

Each business partner should have a clear understanding of the rules which govern the business relationship.  For an LLC, such rules are normally contained in an operating agreement. This documents should be written to address the unique needs of your business arrangement. Imagine you are visiting a foreign land.  You don’t speak the language and you have no […]

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Protecting your assets with an LLC; a legal firewall

Protecting your assets with an LLC; a legal firewall

As the name would suggest, a limited liability company is designed to limit liability–it is supposed to function as a legal firewall. There are many purposes for LLCs in today’s world of business, law, tax and accounting work, but these nifty legal entities were originally designed to serve asset protection and liability limiting functions. If all goes according to […]

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I am going to stop procrastinating…tomorrow

I am going to stop procrastinating…tomorrow

We all have things on our to-do list that seem to remain on that list day after day after day. I recently met with a husband and wife to discuss the design and implementation of their customized estate plan. When I asked about what motivated them to schedule an appointment with me, their response was […]

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risk protection basics

Just as we can protect against the risk of being hit by lightning, we can do much to protect ourselves, our property and our loved ones from lawsuits and other claims. As we are all know, life is full of risks. Some risks can be prevented or at least largely mitigated and some risks are […]

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Why Would You “Roll the Dice” With Your Most Valuable Asset?

Your most valuable asset could end up in the wrong hands. Why take the chance? We have been talking recently about the idea of leaving inherited retirement accounts to children and others directly and thereby giving such individuals the freedom to choose how to utilize such accounts. We noted yesterday that in most instances, such […]

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Not Just For Married Folks–Estate Planning Considerations For Single Individuals

Think this stuff is just for married people? Not so fast my friend.  Even if you are not married, if you have any people in your life that you care about and/or any property, then these things are relevant for you. We talk a lot about marriage, families, children and related topics as estate planning […]

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Utah Asset Protection Trust Basics

There are legal, valid and proper ways to protect your assets under Utah Law, but you must do it the correct way in order to get the desired benefit. Here in Utah, the attorneys who are known best are the plaintiff’s attorneys (i.e. the attorneys who sue people), such as Robert DeBry, Siegfried & Jensen and others. […]

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Is Asset Protection Snake Oil or Legitimate?

Depending on who is talking (and selling), asset protection can either be the legal equivalent of snake oil or it can be valid, legal and totally legitimate.    Asset protection can sometimes be the “snake oil” of the financial planning and estate planning world. Unfortunately, there have been a good number of such “snake oil […]

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How do I add to or remove assets from my Utah trust?

A trust can be likened to a safe that holds money and other valuable assets. WHO is permitted to access the safe (and the trust), HOW access is permitted and WHEN access is permitted are all key considerations. A Utah trust is a creature of Utah state law and therefore is governed by such Utah […]

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