Asset protection, perhaps counter intuitively, is just as important for entrepreneurs who are selling their businesses as it is for those who are running one. In fact, “selling a business” is one of my “risk factors” listed in the chart below. Most so-called succession and exit planners focus only on the deal terms, taxation, the valuation, estate planning, life insurance sales and where your sales […]
Ike Devji’s fifth video in five part interview series with financial expert Steve Savant. Ike discusses amateur planning like “friendly liens” and why insurance, although vital, is not adequate asset protection for business owners and entrepreneurs by itself.
Asset protection lawyer Ike Devji discusses common fatal mistakes in asset protection planning. In part 3 of his 5 part interview series with financial expert Steve Savant Ike discusses how entrepreneurs and business owners might use the wrong legal tools or actually drag liability back into their safe legal planning.
We provide asset protection planning for many types of people. One of my favorite types of client is the successful business owner who is ready to sell and enjoy the fruits of their hard earned labor. Contrary to popular advice, your liability does not end at the sale and one of the things I’m always […]
We’ve previously highlighted the financial and legal planning issue business owners and doctors feel uninformed about, and provided links to more than half a dozen articles on those areas of concern. Today we continue our examination of those blind spots by addressing a common question: When should I update my estate plan? We’ve previously addressed common estate-planning […]
The frequency and exposure of lawsuits by various domestic help is a serious and growing threat. In the last few years I have seen more claims by domestic staff including maids, nannies, housekeepers, cooks, gardeners, personal trainers and etc. than ever before. Claims include wage and labor issues, sexual harassment, personal injury, wrongful termination, and […]
Convert Your Intangible Assets Into Corporate Crown Jewels Many businesses have substantial amounts of intangible assets in various forms that comprise a good portion of the business’ value. Today we turn to Attorney Scott Gibson with Law firm of Davis, Miles in Tempe Arizona for guidance on how to do so in a safe and reliable […]
The article linked below contains some simple and important issues to consider regarding the taxation of C-corps. As an asset protection attorney I’ve never been a fan of them because they are weak , if not defective from a creditor perspective as the shares can actually be taken from you as an asset and handed […]
Quite a bit actually as it shows the stupidity of reckless excess spending, the importance of having cash (even for the rich) and the failure of most contemporary estate planners and business lawyers to plan ahead and think defensively, yes even the super smart ones who work only with rich people. – Ike Devji […]
BUILDING THE RIGHT TRUST Incentives, credits and deductions within the U.S. tax system are currently in the spotlight, and most advisors are aware that unprecedented exemptions for gift and estate taxes are set to expire on December 31. Less clear, however, is how families can manage their assets to capitalize on the credits before […]