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…

Under California law (which is much more generous to employees than federal law), if you are a non-exempt worker, you are entitled to meal and rest breaks: a 30-minute meal break if you work more than 5 hours in a workday, and 10 minutes breaks for every 4 hours you work. There are other requirements…

For the savvy entrepreneur, incorporating a business can be a great way to lower the tax bill, ensure the business lives on, and gain legitimacy as an established business. However, the number-one reason to incorporate or form an LLC (limited liability company) is to protect any personal assets from the liability of the business. Separating…

PRACTICAL BUSINESS ENTITY TIPS—DO YOU KEEP YOURSELF SAFE?  What do the terms “articles,” “meeting” “bylaws” and “minutes” mean? Articles of Incorporation The Articles of Incorporation is the primary legal document of a corporation; it serves as a corporation’s constitution. The articles are filed with the proper state government to begin corporate existence. The articles contain…

BOTTLED PROTECTION POINTS FOR YOUR BUSINESS Independent Contractor or Employee? Bottled Protection Points provide tips for the business owner to contemplate and, if applicable, implement into his or her everyday operation. The Protection Points span the three interwoven areas of Business Law–Asset Protection; Estate Planning Protection; and Employment Law–all important considerations for the knowledgeable entrepreneur. Many times employers improperly…

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;…

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