Asset Protection

PROPOSED NEW IRC SECTION 2704 REGS

The proposed new Treasury regulations under IRC Section 2704 are important not only for estate planners but also for LLC lawyers concerned about asset valuation issues.  See new blog post under the following link: http://www.lexology.com/library/detail.aspx?g=e040eb25-8473-4330-aefe-3d411736a05c&l=7S4SLE8

DELAWARE CASE ABOUT THE RELATIONSHIP BETWEEN PARENT AND SUBSIDIARY

It is often useful for LLCs—including even single-member LLCs—to hold their assets in a holding company and to conduct their operations through a single-member LLC.  The relationship between the holding company and the subsidiary should be covered in one or more intercompany agreements.  The Delaware case discussed in the post under the link below provides […]

OFF-SHORE TAX HAVENS

I always feel hesitant to recommend to LLC asset protection clients the use of off-short LLCs (e.g., Nevis LLCs) and other off-shore entities.  The new Minnesota legislative described under the following link is one reason why: Minnesota Joins Trend of States Proposing Tax Haven Legislation By Maria Koklanaris Minnesota will become the latest state this […]

WYOMING AND NEVADA

I’m an asset protection lawyer, but I avoid forming entities in jurisdictions known as tax havens, because I think this will make my clients look bad to judges and juries if they ever get sued by creditors.  In today’s Tax Analysts Federal Tax Notes, see the article whose title and first paragraph are below. ‘Panama […]

THE ULTIMATE GUIDE TO LLCS AS ASSET PROTECTION TOOLS

As some of you may know, I taught a six-hour webinar on the above subject for NBI in November, and this link is about another webinar on that subject by another law firm.  It looks like a good seminar, and I hope to attend it myself.

POST RE NEVADA LLCS AND APTS

http://www.lexology.com/library/detail.aspx?g=b5d33ad4-bae8-4a0b-af80-543578c3e52f&l=7PQ00YA is a link to a recent post in a blog for corporate counsel called “Lexology.”  The post touts the merits of Nevada LLCs and Nevada asset protection trusts (Nevada “APTs”).  For many purposes, Delaware LLCs are much better than Nevada LLCs; and at least in my view, using Nevada APTs (or, for that matter, […]