In our ongoing series debunking of legal business practices we continue with Domestic Asset Protection Trusts (DAPTs). These are simply statutory trusts, created by the laws of currently 16 states, which allow the creator of the trust or ‘grantor/trustor’ to…
Attorneys love to push Family Limited Partnerships for estate planning and asset protection purposes, generally because they are costly to prepare and involve a great deal of paperwork, but the real reason is that most people simply do not understand…
First, what does a land trust do? It allows the recording of land title anonymously using a 3rd party trustee, thereby providing some protection from being discovered as the true owner of the land. However it should be noted a…
We recently reviewed the best states to form an LLC, which include Delaware, Wyoming, and New Mexico. In this post we will review the worst states due to cost, duration, burdensome filing requirements, taxes which must be paid, lack of…
This question is usually overly complicated by clients and attorneys when the answer is usually quite simple: for the vast majority of small business start-ups an LLC will be perfectly sufficient for most purposes due to its reduced cost of…