Is your housekeeper, chef or nanny a lawsuit liability? Probably.

DOMESTIC EMPLOYEE

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 […]

The “C” Word in business: Vital Issues To Consider With C-Corporations

TAXES

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 […]

What Could Bravo’s ‘The Queen of Versailles’ have to do with Asset Protection?

WEALTH IN AMERICA

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   […]

Is my DEFINED BENEFIT PLAN safe if my employer goes out of business? – Asset Protection

CEO & EXECUTIVE LIABILITY

If your employer goes out of business, any retirement plan your employer sponsored will be terminated. If the plan is a 401(k) or other defined contribution plan, your benefits are held in trust, apart from your employer’s assets, and you’ll generally be entitled to receive your full account balance in a lump sum. (You can […]

Warren Sapp files for bankruptcy – $100K a month income won’t float his bills

HABITS OF WEALTH

Wealth is finite and fragile – we try to teach those we work with some simple basics, like the “habits of wealth”, the value of liquidity and being able to pay your bills for an extended period of time if your cash flow stops, as his might in August when his contract expires.  It’s not just […]

Intangible Traits of Successful Business Leaders – Success and Leadership

LEADERSHIP

By Ike Devji, JD The majority of our discussions in this forum focus on specific intelligence and business tactics that support and preserve your success. However, I’m reminded of the less tangible elements of success on a regular basis by people I come across in my work. In most cases the things I make note of […]

Man found dead in NFL player’s pool

THE DANGER OF

NFL player has guest die in pool during party. This creates liability and the possibility of wrongful death lawsuit against him that he has likely NOT been prepared for by his manager, agents or estate planner. His home-owner’s insurance is likely to be inadequate.

THE VAULT: Asset Protection, Cash Alternatives and Life Insurance – UPDATED

VAULT

In the week ending august 14th another 24 Billion dollars left the securities market for the relative perceived safety of cash. These billions  of dollars simply added to the trillions of dollars already allocated that way because of fears of instability in the securities and real estate markets.  This large liquidity position has not gone un-noticed, unfortunately […]

The Common Traits of Long-Term Wealth – Staying Rich

Ike Devji, J.D. I have been fortunate to work with some of the most successful people in America through the course of my career. All of them excel at something; medicine, business, real-estate development, science, and even the arts. What this vastly diverse crowd has in common (besides money) though are a set of traits […]

Why Professional Athletes and Entertainers May Start to Avoid the UK

Debra Callicut CPA

Guest Column By Debra Callicut Partner Henry & Horne, LLP It has been reported that Usain Bolt turned down an opportunity to run at a UK athletics event as the tax he would suffer filing as a nonresident earner of the UK could have potentially exceeded his UK earnings.  The reason behind this apparent unfair tax […]