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Tag: Limited Partnership

Poorhouse Prevention

Poorhouse Prevention

Litigation in our society is a popular tool for the accumulation of wealth – by plaintiffs and their attorneys, who often take cases on a contingency basis. Attorneys handle lawsuits if there is any basis for a claim, and, most importantly, if there is a source of funds from which they will be paid. Asset protection planning makes the source of such funds minimal at best. If you think you do not need to secure your wealth, ask yourself: Am I absolutely certain that I will never be sued? And, if by some chance I am sued, that I will be fairly treated by our justice system? Most will answer “No!”, and wonder what they can do. Asset protection planning is the answer.

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Limited Liability Companies: Ready for Prime Time?

Limited Liability Companies: Ready for Prime Time?

Limited liability companies are being utilized more and more as one state after another adopts a version of a limited liability company statute. A Uniform Limited Liability Company Act was proposed in August, 1994, but as of this writing, no state has adopted it.

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Limited Partnerships: A Closer Look

Limited Partnerships: A Closer Look

The use of limited partnerships in asset protection planning was generally discussed in Volume I, Numbers 3 & 4. In this issue we will take a more detailed look at how and why limited partnerships are used in asset protection planning, and the limitations of the limited partnership technique.

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Commonly Asked Questions About Asset Protection – Part Two

Commonly Asked Questions About Asset Protection – Part Two

This is the second of two issues devoted to commonly asked questions about asset protection. Among the questions addressed last month were those relating to the significant protection afforded through the use of the family limited partnership.

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Commonly Asked Questions About Asset Protection

Commonly Asked Questions About Asset Protection

During the course of numerous asset protection consultations, we have found that some questions seem to be asked repeatedly. We thought it would prove useful to recount them here, with our responses, for everyone’s benefit.

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