IRA Planning in Light of Robertson v. Deeb
In December of 2009, the Florida Court of Appeals concluded in Robertson v. Deeb, 16 So. 3d 936 (Fla. 2d DCA 2009), that the beneficial interest that a person owns in an inherited IRA may be subject to garnishment. In other words, an IRA that you inherit may be taken by your creditors. This is […]
Business Succession Planning: FLLC
Some of you may have seen these scary statistics: According to the U.S. Small Business Administration, 90 percent of the 21 million small businesses in the U.S. are family-owned, but less than one-third of family-run companies succeed into the second generation, while only half of that make it to the third. Most often, the lack […]
Asset Protection Trusts vs. Family Limited Liability Companies
Occasionally, people who are interested in asset protection ask me what is more appropriate, a trust or some sort of FLC or FLP. Here is my response: An Asset Protection Trust An asset protection trust is more secure than an FLC, but it is also more costly to maintain (high annual fees for an independent […]