Blog Posts in 2016
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Posted on Dec 26, 2016 By The Presser Law Firm, P.A.
The Florida homestead exemption has three separate components; creditor protection, real property tax exemptions and limitation on devise and descent. As most people know, Florida allows for unlimited ...
Continue reading "Is it True that Senior Citizens will receive a Greater Homestead Tax Exemption in 2017?" »
Posted on Dec 19, 2016 By The Presser Law Firm, P.A.
Here, the best advice is to put your ‘eggs’ into separate baskets. It’s another vital protective strategy. If you use one corporation or LLC to operate one business, then use two ...
Continue reading "How should someone organize their expanding business?" »
Posted on Dec 12, 2016 By The Presser Law Firm, P.A.
Corporate creditors oftentimes do personally sue business owners to collect on corporate debts. To do so, corporate creditors attempt to ‘pierce the corporate veil’ to recover from their ...
Continue reading "How can corporate creditors be discouraged from trying to pierce the corporate veil to sue its officers or owners personally?" »
Posted on Dec 5, 2016 By The Presser Law Firm, P.A.
Shareholders do often attempt to camouflage their ownership interest. Yet more diligent creditors can usually identify the corporate shareholders by examining the corporate books, tax returns, ...
Continue reading "For lawsuit protection should I privatize my ownership in the corporation?" »
Posted on Nov 28, 2016 By The Presser Law Firm, P.A.
This is a great question! Many people don’t realize that setting up an estate plan with a revocable trust is not the final step to setting up a proper estate plan. Many individuals forget the ...
Continue reading "If I create a Revocable Living Trust, Will My Assets Pass Outside of Probate Automatically?" »
Posted on Nov 21, 2016 By The Presser Law Firm, P.A.
We are frequently asked this question. Corporations are creations of state law and state laws differ. It can sometimes be advantageous to incorporate in a particular state. If your corporation ...
Continue reading "Many people claim that there are advantages to incorporating in Nevada. Is that true?" »
Posted on Nov 14, 2016 By The Presser Law Firm, P.A.
Professionals also have organizational options. Most of our doctor, dentist, lawyer and accountant clients prefer professional corporations (PC) or professional associations (PA), which limits their ...
Continue reading "Which entities are the best liability insulators for professionals?" »
Posted on Nov 7, 2016 By The Presser Law Firm, P.A.
A limited liability company combines the advantages of a corporation with those of a limited partnership, but there are several reasons why a limited liability company may be preferable to either of ...
Continue reading "Why is the limited liability company gaining popularity as a business entity?" »
Posted on Oct 31, 2016 By The Presser Law Firm, P.A.
It was clear that the Supreme Court would soon get involved as numerous states created legislation requiring same-sex marriages to be recognized as legal rights. On June 26, 2015, in Obergefell v. ...
Continue reading "What effect did the holding in Obergefell v. Hodges have on same-sex marriage estate planning opportunities?" »
Posted on Oct 24, 2016 By The Presser Law Firm, P.A.
None whatsoever. They both provide the same limited liability to its stockholders. Many people think that because the S corporation is taxed as a proprietorship or partnership, it has the unlimited ...
Continue reading "Is there any difference between the S and C corporations for liability protection?" »
Posted on Oct 17, 2016 By The Presser Law Firm, P.A.
Before the advent of the LLC; the corporation was the only practical entity for the small business owner. The choice was then between the S corporation and the C corporation. Now the LLC is the third ...
Continue reading "Which are the most popular entities for small business owners?" »
Posted on Oct 10, 2016 By The Presser Law Firm, P.A.
Positively. The fallacy is that the small business – usually a home-based service business – is too small to worry much about liability issues. What their owners don’t realize is ...
Continue reading "But what about the smaller enterprise - for example, the home-based business; does it also need to incorporate?" »
Posted on Oct 3, 2016 By The Presser Law Firm, P.A.
Choose the right form of business entity. You need an entity that will limit your personal exposure. Usually the corporation or limited liability company (LLC) will best protect your personal assets ...
Continue reading "What is the first defensive step to take when you go into business?" »
Posted on Sep 26, 2016 By The Presser Law Firm, P.A.
The answer to this question is actually both yes and no. As an overview, the Federal estate tax is a tax on your right to transfer property at your death. The fair market value of all assets in your ...
Continue reading "Did the Estate Planning Tax Exemption go up in 2016?" »
Posted on Sep 19, 2016 By The Presser Law Firm, P.A.
Every type claim you can imagine. They get sued for breach of contract, negligence, product liability, employment violations, anti-trust, SEC violations, unpaid bills, stockholder actions – you ...
Continue reading "What types of liabilities or claims do businesses normally encounter?" »
Posted on Sep 12, 2016 By The Presser Law Firm, P.A.
About one-third, maybe more. We have judgment-proofed nearly every size and type business from $50 million manufacturers to tiny home-based businesses. Of course, with most of our cases involving the ...
Continue reading "What portion of your clientele are small businesses?" »
Posted on Sep 5, 2016 By The Presser Law Firm, P.A.
While lawsuit proofing is necessary for every individual, it is no less important for small businesses and professional practices. They are more vulnerable to lawsuits and creditor problems than ...
Continue reading "How important is defensive planning for the small or mid-sized business or professional practice?" »
Posted on Aug 22, 2016 By The Presser Law Firm, P.A.
One role is that it offers important estate tax benefits. FLP interests are subject to a discounted valuation by the IRS. An FLP that owns an asset is considered to have less value than the sum of its ...
Continue reading "What is the role of limited partnerships in estate planning?" »
Posted on Aug 15, 2016 By The Presser Law Firm, P.A.
Certainly. And it’s often wise to do so. A testator who wants to safely bequeath wealth to a beneficiary should direct the inheritance to any entity that would insulate the inheritance from the ...
Continue reading "For Asset Protection, Can an Inheritance Also be Directed to a Protective Entity on Behalf of a Beneficiary?" »
Posted on Aug 9, 2016 By The Presser Law Firm, P.A.
This week, we would like to take a moment to recognize the outstandingly talented creator of the Emergency Dress, Ashley Martini. The culmination of over a year of hard work and determination has ...
Continue reading "A Finalist for QVC's Sprouts Competition, Ashley Martini Stands at the Door to Success" »
Posted on Aug 8, 2016 By The Presser Law Firm, P.A.
That’s an excellent – and often overlooked – question. One option is to disclaim their inheritance. A beneficiary who disclaims their inheritance essentially passes the inheritance ...
Continue reading "How can beneficiaries prevent their creditors from seizing their future inheritance?" »
Posted on Aug 1, 2016 By The Presser Law Firm, P.A.
Accelerated lifetime gifting can reduce your estate taxes and also protect those assets you don’t need to support your lifestyle. Gifting may also shift your assets to a less liability-prone ...
Continue reading "How can I best accelerate my lifetime gifting to my children to reduce my taxable estate and also to have less money vulnerable to my prospective creditors?" »
Posted on Jul 25, 2016 By The Presser Law Firm, P.A.
As with any type asset, there are multiple protective options. For instance, a few states with tenancy-by-the-entirety laws protect spousal co-owned investments from creditor claims against one ...
Continue reading "Are there other protective options besides the Limited Partnership, International Trust or LLC?" »
Posted on Jul 18, 2016 By The Presser Law Firm, P.A.
The Charitable Remainder Trust (CRT) allows you to gift your property to charity, protect it from your creditors, save taxes, receive a lifetime income, and still leave your heirs whatever amount you ...
Continue reading "Are gifts to charity through a charitable remainder trust creditor protected?" »
Posted on Jul 11, 2016 By The Presser Law Firm, P.A.
While lawsuit proofing is necessary for every individual, it is no less important for small businesses and professional practices. They are more vulnerable to lawsuits and creditor problems than ...
Continue reading "How important is defensive planning for the small or mid-sized business or professional practice?" »
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