Asset protection is keeping what you earned legally through strategic tax planning and business structure, accurate record keeping, utilize maximum tax deductions available and risk management.
Laws change constantly, and lawsuits are being filed everyday. You do not need to do anything wrong to be subject to a law suit. ASSET PROTECTION, RISK MANAGEMENT AND TAX PLANNING
Asset protection is not tax evasion, and it is not hiding assets.
Only by working with professionals who focus in these areas can you use the power of knowledge to your advantage, have a peace of mind and enjoy life.
Medical Professionals, real estate investors, and financial investors have more reasons than others to protect their assets. Three Step Protection Plan For The Professional
• Securing liability Insurance Protection • Use a corporation, LLC or LLP not sole proprietorship • Hold proper title to property and personal assets
How You And Your Spouse Should Hold Title To Assets
• If Both Spouses are Vulnerable to Lawsuits, Then Use a Corporation or a LLC
Alternatives to Liability Insurance
• Operate Your Business as a Corporation, LLP, or LLC • Use Multiple Corporations • Husband and Wife Own Literally Nothing
Three Things Directors and Officers Must Do
• Obtain an Indemnification Agreement and/or Insurance • Act Prudently in Your Role as a Director or Officer • Insulate Your Personal Assets
Avoid These Major Mistakes that Corporations Make
• Failure to have regular board of directors’ meetings • Failure to have annual shareholders’ meetings • Failure to issue the corporate stock or maintain stockholders’ ledger • Failure to maintain up-to-date corporate records• Failure to have the required initial organizational meeting • Failure to adopt by-laws • Failure to maintain proper accounting records • Failure to advertise and serve notice that the business was operating as a corporation • Failure to transfer assets into the corporation • Failure to get the proper state and local business licensees in the name of the corporation • Failure to file annual state and federal report forms
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