Article written for: ABA Property and ProbateThe Uniform Voidable Transactions Act (UVTA) was recently adopted by the Uniform Law Commission (Commission) as the successor to the Uniform Fraudulent Transfer Act (UFTA). UFTA was itself an update of its predecessor, the Uniform Fraudulent Conveyance Act (UFCA). UFCA was revised to conform the Act to the Bankruptcy Reform Act of 1978. UVTA resolves several “narrowly-defined issues.” UVTA Prefatory Note 5 (2014).
Asset protection: Where you form an LLC can make a big difference
02 Jul 2015 Written by Eric C. BoughmanArticle written for: Orlando Business Journal
Limited liability companies have become the entity of choice for small business owners and are commonly used by professionals in asset protection planning. Choosing to form an LLC instead of a corporation may be prudent, but it raises the question of where to form the LLC. There are several factors to consider in deciding where to establish the entity. Picking the right LLC jurisdiction may be as important as the decision to use an LLC.
In 2010, the Florida Supreme Court issued a ruling that eviscerated the effectiveness of the Florida single member LLC for asset protection purposes.
