A Family Limited Partnership or FLP is a legal tool designed to centralize a family business or family assets into a single holding entity for asset protection and tax savings. FLPs unique tax ability can be used to minimize estate taxes by transferring FLP shares between generations,
Business asset protection needs to be considered early in your business formation process. It’s never too soon to think about asset protection. Many businessmen think business asset protection planning is only needed after they are successful and have made a lot of money. It doesn’t always work
How you hold the title to your house to protect it from lawsuits makes a difference. I often have asset protection fanatics tell me that they have put their house title in a corporation or Limited Liability Company (LLC) for house protection. This is a big mistake.
“Quick Claim Deed” or “Quit Claim Deed”? Which one is it and how does it work? The term is not quick claim deed, but rather quit claim deed (even though using one is pretty quick). When you use a “quit” claim deed you are “quitting” or leaving
