Best Asset Protection and Power of Attorney Generally speaking, if a principal is still living and capable of managing their own affairs their relatives cannot change the POA. However, if the person becomes incapacitated a General POA is extinguished and the relatives can petition for a guardianship of the person. If there is a Durable POA in effect…

Buy-Sell Agreements When we use the term Buy-Sell Agreement, we are not talking about a contract in which you promise to buy a business. Rather, the Buy-Sell Agreement of which we are speaking here, is a binding contract among the owners of your business that controls the buying and selling of ownership interests in the…

Best Asset Protection and Bottled Business Sense Radio WFB Legal Consulting Inc. and the Bottle Business Sense Newsletter proudly present the launch of The Bottled Business Sense Radio Show. The show will launch June 3, 2014. More information will be made available as the show date approaches. However, the show will combine the unique features…

NEW YEAR GOALS FOR SMALL BUSINESS OWNERS GOALS: 1._____________________________________________________ 2._____________________________________________________ 3._____________________________________________________ Happy New Year and I hope 2014 has been off to phenomenal start for everyone of you! With each new year comes a new set of goals. As humans, we’re constantly aspiring to improve ourselves, whether it’s wanting to lose weight, exercise more, get…

Set up your business entity before year’s end and make sure you have the BEST ASSET PROTECTION available for your business and personal assets. Get organized and utilize business deductions to lower your taxable income. Having a good business attorney  and a good accountant on retainer, working hand in hand, are two steps you can take to be…

Alaska was the first US jurisdiction to enact laws allowing protection for self-settled trusts (in 1997) and was shortly followed by Delaware, Nevada, South Dakota and a few others. These trusts are known as Domestic Asset Protection Trusts (DAPTs). Usually, a DAPT must comply with the following requirements: The trust must be irrevocable and spendthrift;…

Generally speaking, if a principal is still living and capable of managing their own affairs their relatives cannot change the POA. However, if the person becomes incapacitated a General POA is extinguished and the relatives can petition for a guardianship of the person. If there is a Durable POA in effect it remains in effect even after the…

Most people understand that in the world of asset protection planning and estate protection planning, the contracts which encompass the plans in question are always in writing.  Everything you do to protect your business and personal estates involves the preparation of a contract, as does most of what you do with contractors, suppliers and even…

The limited liability company combines the limited liability advantage of a Corporation with the protection of your ownership interest.  Yet, there are essential reasons we should prefer a Limited Liability CO. (LLC) to either the Limited Partnership or even the Corporation: – As with an S corporation, you can avoid double taxation with a Limited…

The very best in asset protection always incorporates employee awareness for small business owners. All too often, business owners make all or a combination of the following three critical mistakes: 1. They fail to form a business entity which feasibly can create protection from lawsuits filed by employees, suppliers and customers; 2. They fail to…

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