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Thursday, 11 June 2015 11:00

New and Improved Nevis LLC Law Enhances Asset Protection Benefits

New and Improved Nevis LLC Law Enhances Asset Protection Benefits

Attorney Gary A. Forster’s key amendments make the Nevis LLC a more effective planning tool for financial professionals and their clients

Orlando, FL – On May 27, 2015, the Nevis Island Assembly passed much needed protections to its Nevis LLC Ordinance. Gary A. Forster, Managing Partner at the law firm of Forster Boughman & Lefkowitz (www.fbl-law.com) says that for years his firm has used the legal protections offered by this small Caribbean nation as part of its international practice. Mr. Forster also recognized deficiencies in the prior law (Nevis LLC Ordinance of 1995). Mr. Forster presented his concerns to a contact in Nevis, was asked to draft suggested amendments, and his amendments have been adopted in the new Nevis LLC law. (Nevis Limited Liability Company Ordinance (Amendment), 2015)

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Tuesday, 07 April 2015 10:29

Asset Protection Considerations for Financial Professionals

Asset Protection Considerations for Financial Professionals

Article Written for:  AccountingToday.com

Effective asset protection requires the strategic use of several legal components. These include the transfer of assets to protective structures (such as limited liability companies and trusts), proper allocation of legally protected assets, insurance and proper titling of assets to maximize legal exemptions from claims. Proper structuring insulates assets against claims from future, unknown creditors.

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Thursday, 16 April 2015 20:00

Delaware Bank Accounts for Asset Protection Not a Silver Bullet

Delaware Bank Accounts for Asset Protection Not a Silver Bullet

Article Written for:  BizJournals.com

As the story goes, John D. Rockefeller was getting his shoes shined when the shoeshine boy, not knowing whose shoes he was shining, started offering stock tips.That was Rockefeller’s cue to turn bearish on the stock market. "Secret" tips lose their efficacy when no longer secret. While speaking at a recent seminar, we received several questions from CPAs and financial professionals about the use of Delaware bank accounts to protect cash. The questions reflect a national trend to use Delaware accounts for "asset protection."

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Thursday, 02 July 2015 20:00

Asset protection: Where you form an LLC can make a big difference

Asset protection: Where you form an LLC can make a big difference

Article 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.

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Forster Boughman & Lefkowitz

Our mission is to serve as a resource for complex domestic and international business transactions, tax, health law, asset protection, and related litigation.

Our firm is an approachable and economic alternative to large national and international law firms.  Se habla español.



 

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ForsterBoughman
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