Often so very misunderstood, and generally regarded in some quarters as “playing dirty, “the concept of asset protection is sometimes one of last resort for a business owner. However, in truth, asset protection planning is essentially risk management planning designed to discourage a potential lawsuit before it begins, or to promote a settlement most favorable…

Workers’ compensation insurance coverage for California employees is mandatory. If a California business has employees, then the employer must obtain workers’ compensation insurance. It is really that simple. The insurance coverage should take effect from the moment the first employee commences employment. If the business is a start-up, insurance coverage must be obtained before the…

One of the toughest tasks for an HR manager or business owner is managing risk to prevent lawsuits. Employers may unintentionally violate employment laws and never realize the risk they create for the company. Trying to provide some flexibility for an employee, saving money for the company, or just being nice are all ways that…

For years, many estate planning lawyers have implied that everyone should have a trust yet most Americans don’t have a simple will. And yes, living trusts certainly do avoid probate.  But, there’s a whole lot more to a living trust than just that. Here are some factors to consider for yourself: How much of your estate…

The “ACTION” items below are critical to the continued success and growth of any business. Protect Your Business Name and Trademarks :  Building a powerful and meaningful brand is a top priority for most small business owners.  Unfortunately, protecting that brand from infringing, unscrupulous competitors often takes a back seat when we are overwhelmed with…

YES, in my opinion. While an attorney is not a legal requirement, online formation services and document providers will typically only provide you with fill-in-the-blank forms (form Operating Agreement, form Organization Minutes, and form Membership Interest documents), which unfortunately eliminates the main benefit of the LLC – the ability to customize the relationship of the…

I always suggest a course of continuing education where asset protection principles are concerned. Because your education is never really complete and should be ongoing nevertheless ,here are some BEST ASSET PROTECTION principles to carry around in your wallet: Inventory Everything. Make a complete list of your assets and debts. It’s a good idea to do…

The Unfair Competition Law, codified as Business & Professions Code Section 17200, provides for injunctive and other relief for any business practice that is “unfair,” “unlawful” or “fraudulent.” What is Unfair?  An unfair business practice is one that has the tendency to deceive the public.  Courts have struggled to come up with some sort of formula…

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

Living Trusts Over the last two decades, the popularity of Living Trusts has skyrocketed. No longer are a tool just for the rich, Living Trusts one of the most common estate planning tools in use today. In fact, today’s estate planning is not just about death and taxes, but includes protection of one’s assets from…

© 2015 WFB Legal Consulting, Inc. Designed by Captivate 365

logo-footer

STAY CONNECTED WITH US: