Charging Order Protection and Reverse Piercing

WHAT IS CHARGING ORDER PROTECTION? A ‘Charging Order’ is actually a limited creditor remedy. But the remedy is so limited, it is viewed as being protective from an asset protection standpoint. Thus, all entities that benefit from the charging order are called “Charging Order Protected Entities” or COPEs. Generally, a creditor of partner or member […]

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Entity Choice of Law Issues

RECOMMENDED READING: (Asset Protection in Financially Unsafe Times, by Dr. Arnold Goldstein and W. Ryan Fowler, chapters 8 and 18.) A hotly debated question is: if you live in one state, can you form an entity in another state and take advantage of its more debtor-friendly laws, such as a stronger charging order statute? The […]

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Entity Basics

THE SOLE PROPRIETORSHIP Explained The oldest, most basic business type. 1 owner basically just starts a business. He may register a “doing business as” name w/local courthouse or county recorder’s office. Pros: No need to register anything, simplest set up and operation. Cons: No limited liability, no special tax reduction benefits (self-employment tax savings, etc.). […]

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Charging Order Protection

What is Charging Order Protection – Video Transcript Today we’re going to talk about charging order protection. Charging order protection is a certain characteristic that partnerships and limited liability companies have. It’s very important for asset protection because a lot of times you put your assets into an limited liability company (LLC) or a limited […]

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Beyond Charging Order Protection

Beyond Charging Order Protection, Other Alternatives; Video Transcript Today we’re going to talk about going beyond the charging order. In other words, how can we get another layer of protection or even more protection than you get with a charging order protected entity such as an LLC or partnership? Before you watch this video, I […]

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Advanced Limited Liability Company’s (LLC)

Advanced Limited Liability Company (LLC)’s: Video Transcript I’m going to talk today about how to use limited liability company (LLC) for estate planning. Now, the most common type of business entity used for estate planning is what’s called the FLP which is short for a Family Limited Partnership and FLP is really just a normal […]

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