Below you'll find a list of all posts that have been categorized as “Commentary”
Since the limited liability company first came into being in the State of Wyoming in the late 1970s, the LLC has become ubiquitous throughout the United States and major offshore business centers. The flexibility that LLCs offer, similar to partnerships, makes them convenient for conducting business with minimal formalities. Also, the formidable barriers to liability make them just as effective as more …
For decades, Delaware has served as a panacea for business planning. Business filings are relatively cheap, there is no income tax applicable to a business not operating in Delaware, and Delaware has proactively implemented innovative business legislation, such as the series LLC. Yet, overlooked by many lawyers is the fact that Delaware’s demographics have changed over the past several decades. …
On December 18, 2015, the Cayman Islands advanced legislation providing for the formation and registration of limited liability companies. While the legislation has not yet been enacted into law, the text of the bill has been published, and our expert staff has now had a chance to review the proposal. About Our Staff Lawyers on our service team have contributed to …
We frequently encounter the same two questions posed to us by both lawyers and their clients: Which entity is best for asset protection? Which jurisdiction is best for an asset protection entity? Answering these two questions properly requires that we first define several key terms both to identify planning objectives and to define success. Asset Protection: “Asset protection” is a …
In what was billed by several newspapers last year as the “world’s most expensive divorce,” a local court in Geneva, Switzerland awarded a judgment of $4 billion in favor of Elena Rybolevlev against her husband, Dmitry. The court took issue with the fact that Dmitry had availed himself of an offshore asset protection trust to maintain ownership of $8 billion …
The Wall Street Journal recently reported on a ruling from a Georgia Appeals Court that threatens to open a Pandora’s box of personal liability for families throughout the United States. In a nutshell, the appeals court found that parents of a minor may be found to be negligent in failing to supervise a child who defames someone over the internet. The …
For generations, families have used foreign trusts to protect assets from creditors, relying on foreign law or the foreign legal climate, or a combination of both, to serve as a barrier between the creditor and family wealth. The Isle of Man developed a cottage industry in asset protection trusts after its courts, in the 1859 decision of Corlett v. Radcliffe, held that fraudulent transfer claims would …
The Definitive Guide To Captive Insurance Companies: What Every Small Business Owner Needs To Know About Creating And Implementing A Captive by Peter J. Strauss, J.D., LL.M. Written by one of the best known captive insurance lawyers in the United States, several of our staff members just completed reading this book (it is available at Amazon.com in both print and …
