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.
Donald Trump’s creditors and those currently involved in lawsuits against him may be celebrating. Trump was in the news again this morning for changes made to the trust that holds and controls his business interests. According to new reports, changes were made to Trump’s trust in February, shortly after the inauguration. Based on news reports […]
Issues in the news like the recent Ashley Madison data dump prove how negative publicity related to your practice or the personal activities of any of its owners or employees, can have devastating effects on your professional reputation and financial solvency. Regardless of the cause, every business and medical practice owner and manager should understand some PR crisis […]
Asset Protection attorney Ike Devji was recently quoted in financial author Geri Detweiler’s article on creditor protection of 529 college savings plans that appeared at Yahoo Finance and Credit.com among several other sites. SEE THE ARTICLE HERE: http://blog.credit.com/2015/10/can-a-debt-collector-take-my-kids-college-fund-126590/ The article explores the often complex and confusing laws surrounding the creditor protection of 529 […]
Medical practices and other businesses of all types face many types of risk outside the strict scope of their professional liability. One major lawsuit risk to business owners and doctors is employment-related lawsuits that must be mitigated with a professionally drafted employment manual. I continually stress that a good asset protection plan has many layers, including management of all reasonably anticipatable risks. […]
Events beyond your control and outside the scope of your business can cause reputational damage and receive media and public attention that can literally shut your business down. Knowing how to handle such an event should be part of your asset protection plan. A previous article examined the different types of crisis plans required to operate any business, especially one that […]
Business owners and Doctors are increasingly bombarded with a variety of asset protection information from different sources of varying skill and experience. One common tool that attorneys and non-attorney promoters alike often focus on is the limited liability company or “LLC.” Unfortunately, because LLCs are relatively simple to create and maintain, they are routinely misused […]