Domestic Asset Protection Attorney
International Asset Protection Attorney About us FAQ Books & Publications Seminars Links & Resources Contact Us
Corporations
Limited Liability Companies
Limited Liability Partnerships
Limited Partnerships
Asset Protection Trusts
Domestic Asset Protection Trusts
Equity Stripping
Financial Planning Exemptions
Tenancy By The Entirety
Charging Order Protection
International Entities
International Trusts
Captive Insurance Companies
Business Entities
Contract Formation and Review
General Business Counsel
Business Succession Planning
Current Estate Plan Review
Drafting Wills and Trusts
Incapacity Planning
Probate Administration
Charitable Remainder Trusts
Online Asset Protection Quiz.

Can a limited partnership or LLC effectively 'divorce-proof' my assets?

Family limited partnerships (FLPs), limited liability companies (LLCs) and corporations might be useful to help you control certain assets if you divorce. If you set up the entity and transfer your assets to the entity during the marriage, and assume control of the entity as the FLP’s sole general partner; the LLC’s sole manager; or the corporation’s sole officer. Even if the ownership is divided equally, you retain control.

Divorce courts generally don’t dissolve FLPs, LLCs or corporations, particularly if third parties – such as children – have an ownership interest. The courts adjust the ownership interests so each ex-spouse winds up with an equal percentage. But if you controlled the entity before the marriage, you should continue in control after you divorce. Nevertheless, in divorce you can still lose a considerable share of your equity in the entity.

Related links:

The Presser Law Firm, P.A. - Asset Protection Attorney
Located at 6199 N. Federal Highway Boca Raton, FL 33487. View Map
Phone: (561) 953-1050
Website: