Could a Jury Make You a Pauper?

Chodos, Murray; Chodos, Adam
June 2001
Advisor Today;Jun2001, Vol. 96 Issue 6, p68
Trade Publication
Suggests the use of a family limited partnership (FLP) to control assets without actually owning them. Why the legal system in the United States makes it easy for potential plaintiffs to file lawsuits and class action suits; Overview of a case involving negligence in hiring; Advantage of combining FLP with an offshore trust.


Related Articles

  • DEAN v. DICK.  // Delaware Journal of Corporate Law;2000, Vol. 25 Issue 2, p444 

    Reports claims of a general partner pursuing contribution from limited partners for a deficiency in the sale of primary assets in New Castle, Delaware. Account of the derivative counterclaim on the breach of fiduciary duties of plaintiff; Application of corporate case law to the limited...

  • Create tax-free wealth, sidestep IRS. Blackman, Irv // Contractor Magazine;Jan2012, Vol. 59 Issue 1, p32 

    The article offers the authors insights on the concept of creating tax-free wealth. The author states that the easiest way to grasp the tax-free wealth was to excess cash and own income generating assets. Moreover, the author mentions the four steps to further explain the tax-fusion concept and...

  • Transferring Active Businesses. Kent, Margaret; Feinschreiber, Robert // Corporate Business Taxation Monthly;Dec2004, Vol. 6 Issue 3, p13 

    The article focuses on transferring of active business. The transfer of active businesses presents the tax planner with a different set of issues than those available to a tax planner charged with transferring passive assets. By active businesses, author refers to the presence of certain...

  • Shelter business assets in a family limited partnership.  // Small Business Tax Strategies;Nov2011, Vol. 6 Issue 11, p5 

    The article offers tips on how to transfer business assets into family limited partnerships (FLPs) in the U.S. It mentions that it is important to treat FLPs as legitimate partnerships to avoid scrutiny from the Internal Revenue Service. It also notes that avoid transferring all assets into an...

  • Camille Jayne "On Point" with Dan Banis of Citizens Trust.  // Orange County Business Journal;6/24/2013, Vol. 36 Issue 25, pB-42 

    An interview with Citizens Business Bank executive vice president (EVP) Dan Banis is presented. Banis says that people must consider any time frame, investment allocation, and taxes when they are contemplating retirement. He adds that one who is considering an entrepreneurial journey should...

  • MANAGING FEDERAL ESTATE TAX LIABILITY WITH TEXAS FAMILY LIMITED PARTNERSHIPS. Ritter, David; Shampton, John F. // Southern Journal of Business & Ethics;2011, Vol. 3, p8 

    The article focuses on tax saving techniques and practices which are practiced in the U.S. As mentioned, there is no restriction on the amount of tax saved in the U.S. and Family Limited Partnership (FLP) is also an important tool to conserve family assets and protect family business. It is also...

  • FSA consults on "tax transparent" fund types. Langston, Rob // Money Marketing (Online Edition);3/7/2012, p25 

    The article reports that the Financial Services Authority (FSA) of Great Britain discussing with investment advisers to allow it to authorize two legal forms of collective investment scheme. It states that FSA wants to introduce the co-ownership schemes and limited partnership schemes under the...

  • Get a Second Opinion. BLACKMAN, IRVING L. // Modern Machine Shop;Aug2014, Vol. 87 Issue 3, p28 

    The article discusses the goal of a comprehensive estate plan to eliminate taxes, not just reduce them. He cites the case of a married man who thought that his existing estate plan needed a second opinion. The author advises real estate to be held in limited liability companies (LLCs), and...

  • Tips on keeping your assets free from seizure in lawsuits. Mills, Michael // Fort Worth Business Press;5/9/2003, Vol. 16 Issue 19, p28 

    Presents tips on keeping assets free from seizure in lawsuits in the U.S. Information on personal umbrella policy; Financial strategies for asset protection; Advantages and disadvantages of family limited partnership.


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics