Tag: limited Liability company and trust


Asset Protection Manual – Chapter 3: Summary

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4th September

How Estates and Trusts Provide Asset Protection

By: Michael Scott Ioane, 2010

One of the tenets of asset protection is that your plan must not look like one of asset protection. That purpose must be concealed behind some other justification for your business entities and their activities.

Estate planning can be very useful for this purpose. It can be the veil behind which you hide asset protection. Estate planning is a means to state what you want done with your properties and assets after you die. You can declare how much, if any, each of your heirs should receive. This allows your family to avoid paying for death taxes and a probate. A probate is a court-supervised process of distributing your wealth.

Estate planning becomes your justification for forming a Family Limited Liability Company. A Family Limited Liability Company (FLLC) is a business entity … Read More »


Asset Protection Manual – Chapter 2 Summary

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4th September

Asset Protection’s Best Friend

By: Michael Scott Ioane, 2010

There are many entities and strategies being bandied about as the best and foolproof way to protect your assets. First of all, there is no such thing as a foolproof asset protection plan. Second, the “best” for one person’s needs may not always be applicable to another’s requirements.

There are many businesses entities that could be formed for this purpose. A corporation may not be the best solution. It may be liable for taxes, its structure is too formal for convenient management, it does not allow a single member to dominate the entire entity, and it is not protected from losing its assets or being taken over when a member is sued and has lost.

Trusts are useful only when someone else controls it. This automatically creates a risky situation as there have been a … Read More »


Asset Protection Manual – Chapter 1: Summary

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4th September

Know Enough to Protect your Assets?

By: Michael Scott Ioane, 2010

These are dangerous times. What you own or worked so hard to obtain may be taken from you by people in the government or private individuals. Administrative errors by the Internal Revenue Service (IRS) may cause you to pay taxes you do not owe. Trivial lawsuits made by opportunistic persons may be ruled against your favor. This is the environment in which we currently live.

Do you know enough to be able to defend yourself and your assets? What you thought to be secure means to amass your savings and properties are not as safe as you imagined. Banks can simply turn your money over to the IRS per that agency’s request. As much as 40% of your own life insurance may not be enjoyed by your heirs. It goes to the … Read More »


IRS Found Guilty of Fraud

Posted by WebMaster in IRS. Comments Off on IRS Found Guilty of Fraud

13th August

IRS accused of fraud by 9th Circuit Court, Case No. 00-70858.

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