Cancel Culture in a Petri Dish When Free Speech Mutates into Contract Interference You have your opinions. Must everyone else agree with you? How far will you go? Will you end up in court? If a business does something you don’t like, would you stage a boycott? Would...
Should you set up a corporation or LLC before you start trying to deduct expenses? A recent case suggests you should. Many think that they can deduct all of their start up expenses before formally incorporating a business. But in Carrick v. Commissioner of Internal...
Is Your Retirement Safe? Are you certain of your pension? Can you count on Social Security to pay you in the future? A recent case allowed the State of Rhode Island to unilaterally - and retroactively - reduce public employees' pension benefits. The case, Cranston...
An Evolving Way To Attack Assets Piercing the corporate veil. It sounds painful, and it is. A judgment is entered against a corporation with no assets. To collect the court allows the judgment creditor (the winner in the case) to pierce through the corporation and...
Mom’s Mistake Is No Excuse! Do you have your registered agent service properly in place? A recent Ohio case illustrated the significant pitfalls of lax procedures. Your registered agent’s job is to accept service process, meaning notice of a lawsuit. If you don’t...
Do you live in a high-tax state? Would you be better off having assets in a trust in a state with no taxes? The U.S. Supreme Court just answered the second question with a resounding “Yes” in the Kaestner case. States cannot tax out-of-state trusts. A case summary of...
New Texas Case Sends Shock Waves LLCs are set up to make personal assets inaccessible for any obligations of the entity. Protection may be lost, however, if you are not aware of your personal conduct when managing business through your LLC. The case below deals with...
When it comes to charging orders, the key asset protection feature of LLC’s and LP’s, there are two opposing trends. First, some states do not provide charging order protection for a single member (one owner) LLC. The rationale is that the charging order exists to...
An Alaska Supreme Court Rules on Alaska Domestic Asset Protection Trusts Created to Protect Assets from a Montana Lawsuit Court Case: Toni 1 Trust, by Tangwall v. Wacker 2018 WL 1125033 For fraudulent conveyances, Can one state assert exclusive jurisdiction over...
Owners of LLCs Holding California Real Estate, Beware! The State of California is at it again. A recent case decided by the California Supreme Court allows cities to asses Documentary Transfer Taxes like never before. When property is transferred by a deed, counties...