Explore the Most Effective Uses of LLCs in Asset Protection
How much protection do LLCs provide and what simple mistakes can remove those protections and leave your clients vulnerable to creditors? Review the major elements of LLC structure, understand veil piercing, and prepare your clients' asset protection plans for the changing judicial environment. Register today!
- Make certain the asset plans you draft offer maximal protection.
- Get an update on the recent court rulings regarding single-member LLCs.
- Fully understand tax implications of entity choice.
- Fortify charging order protections of your clients' LLCs.
- Learn how to use trusts as LLC members.
- Maintain your professional reputation with a practical ethics primer.
- Learn to counter common creditor tactics.
10:00 am - 5:00 pm Eastern Time
Presented by Albert G. Hehr III
- Designing the Plan
10:00 - 10:45, Albert G. Hehr III
- Accounting for Current Legislative and Economic Climate
- Elements of Asset Protection Strategy
- Potential Threats
- Statutory Exemptions
- Liability Absorbing Tools
- Ownership Entities
- The Nest Egg Approach
- Choice of Entity and Its Implications: LLC vs. FLP vs. Corp. vs. Qualified Plan
10:45 - 11:30, Albert G. Hehr III
- Most Favorable Forms of Entities
- Non-Tax Considerations
- Tax Considerations
- Succession Factors
- Pension and Profit Sharing Plans as an Asset Protection Vehicle
- Structuring and Funding the LLC
11:45 - 12:30, Albert G. Hehr III
- Series LLCs
- Single Member LLCs and the Albright and Olmstead Cases
- The Use Of Multiple Entities
- Funding the LLC
- Modular Structuring Using Trusts as LLC Members
- 15 Must-Have Clauses to Make an LLC Asset Protected
- Charging Orders
12:30 - 1:00, Albert G. Hehr III
- What is a Charging Order
- Effects of a Charging Order
- Veil Piercing and Other Creditor Tactics
1:30 - 2:15, Albert G. Hehr III
- Classes of Creditors
- Forward Piercing of Corporate Veil
- Reverse Piercing by Personal Creditors
- Factors Which May Lead a Court to "Pierce the Veil"
- Undercapitalization Case Law
- Insurance as a First Line of Defense
2:15 - 3:00, Albert G. Hehr III
- Professional Malpractice
- Director and Officer (D&O)
- Commercial General Liability (CGL)
- Ethical and Liability Issues
3:15 - 4:15, Albert G. Hehr III
- Who is Your Client?
- Defining and Communicating the Scope of Representation
- Unbundled Services - What is Your Legal Responsibility to a Client After the Service is Performed? (e.g. Business Entity Created)
- Professional Conduct
- Multi-Jurisdictional Practice Considerations
- Avoiding Conflicts of Interest
- Setting and Collecting Attorney Fees
- Proper Reasons to Transfer Assets
- Intentional vs. Constructive Fraud
- Lawyer's Liability for Aiding and Abetting
- Techniques and Examples
4:15 - 5:00, Albert G. Hehr III
- Case Studies
- Personal Protection
- Business Protection
- Protecting a Home
- Protection During a Lawsuit
- Equity Stripping
- Protecting a Professional Practice
- Protecting Real Estate
This focused legal guide is designed for attorneys. It may also be of benefit to trust officers, accountants, estate and financial planners, and paralegals.