Category - Asset Protection

Biggest threat to your estate could be those closest to you (CNBC article)

June 15, 2018

Family conflicts could be the biggest problem with your estate plan.  Contrary to popular belief, this is more likely if you fall into the less-than-wealthy category.  Fewer assets to go around often results in more strife among heirs. Tax considerations (estate tax mostly) have traditionally dominated the focus of estate planning.  Today, with the current […]

Read more >

Can I protect my personal assets from business liabilities?

April 2, 2018

Yes.  LLCs and Corporations were invented for this very purpose.   An accountant reading this post would be quick to point out that there are often important tax considerations involved in the choice between such legal entities.  Even so, I the genesis of corporations, partnerships, limited partnerships, limited liability companies and all variations of the same […]

Read more >

Should you get your own captive insurance company?

December 12, 2017

Captive insurance has been around for a while, but micro-captive insurance structures are more recent in their invention and application. As with any other financial planning vehicle generally, and insurance product in particular, whether or not something is right in a certain circumstance greatly depends on said circumstance. In other words, despite what a very

Read more >

Pharos Law Podcast–is a single member LLC required to have an operating agreement?

December 11, 2017

No blog post gets more views than the one about whether a single member LLC is required to have an operating agreement. CLICK HERE to access that blog post. It’s a valid question, and one could reasonably conclude that a sole owner of a limited liability company should not be required to have his or

Read more >

Asset Protection for Business Owners: some basic ideas

July 15, 2017

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 […]

Read more >

More IRA Trust Stuff

March 27, 2017

I was just referred to an article on this very topic, which is very much related to our blog post yesterday. I am happy to report that although the article I am referencing is not written by an attorney, it is quite good and although it contains a few points that should be clarified, it […]

Read more >

Piercing the Corporate Veil is the exception to the rule

March 6, 2017

Legal liability protection is one of the main reasons for corporate entities. In most instances, these legal entities insulate owners from legal liability. While there are often tax, accounting and other important reasons for corporations and LLCs in a business or investment setting, at the very top of any list of reasons to establish and properly maintain […]

Read more >

Should you update your trust?

February 14, 2017

If you already have a trust, you should be commended for your wise planning. However, as time passes and laws change, it makes sense to review and update your trust to ensure that it remains consistent with your goals. I spend a significant amount of my time each week reviewing legal documents drafted by other attorneys (and sometimes […]

Read more >

Death of the death tax? what would repeal of estate tax mean for you and me?

January 19, 2017

The Republicans have been talking about and working on repeal of the federal estate tax for years. Now that Trump is on his way to the White House, there are many who believe that the federal estate tax (also known as death tax) will soon be a thing of the past. In theory and principle, […]

Read more >

Single Member LLC–what, why and when?

December 30, 2016

What is a single member LLC and why would you want one? We have previously written a fair amount on LLCs generally, including what they are and why they can be useful legal entities. This post will focus on single member limited liability companies. As the name indicates, a single member LLC has one owner–and […]

Read more >