Naked LLC

Naked LLC

Imagine that you must appear in public. You go to your closet. There is nothing there. You will be on display for the whole world to seem completely naked. What is a Naked LLC? Going out in public naked is what it is like to operate a business in a “naked LLC”. You are completely…

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What is a Dynasty Trust?

What is a Dynasty Trust?

A “Dynasty Trust” is a Trust designed to hold and protect property over multiple generations.  Such trusts take advantage of jurisdictions that have abolished laws that require termination such as the Rule Against Perpetuities.  They also take advantage of tax rules to minimize or eliminate multi-generation estate taxes.  Because such Trusts are designed to last…

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Business Limited Partnership

Business Limited Partnership

Business Limited Partnership vs. Family Limited Partnership For many years the “Family Limited Partnership” has been used an both an estate planning and asset protection tool.  There have been a number of catastrophic failures of such entities.  Most often, the reason for the failure is the absence of a business purpose or a failure to…

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Limited Partnership – Legal Services

Limited Partnership - Legal Services

Limited Partnership (LP, LLP, LLLP) With rare exceptions, when we form a LP, we prepare complete documentation as needed for the LP to operate, function, and carry out its intended business purposes.  Often, a Business Limited Partnership will operate as a “Family Bank” and serve as a parent entity to own other assets and subsidiary…

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