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…

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…

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…

How an AB Trust Works Under the old tax laws, each spouse had an estate tax exemption, but typically, the first spouse to die didn’t use his or her exemption. That’s because most spouses left everything to the survivor, and bequests to a surviving spouse aren’t subject to estate tax. (This rule is called the…

I am often asked how liability insurance is different from entity liability protection.  Liability insurance is purchased from an insurance company to cover claims against the business.  Business entities such as limited liability companies (LLC’s) and corporations provide limited liability protection, which prevents creditors from seizing the business owners’ assets. Business owners do not realize…

Most marriage-oriented trusts postpone payment of estate taxes until both spouses in a marriage have died. A marital deduction trust allows you to put property in trust with your spouse as the beneficiary. Upon your death, your spouse has the right to use the property in the trust. No matter how valuable the property in…

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