In the United States, forming an LLC in a particular state (such as Delaware) can provide significantly better asset protection advantages than forming that LLC in certain other states. The same holds true for offshore LLCs. Nevis is currently one of the best offshore jurisdictions for a limited liability company.
Forming a limited liability company
I have discussed the Florida Supreme Court’s decision in Olmstead in other posts on December 20, 2010, September 22, 2010 and August 2, 2010. In addition to severely weakening the asset protection advantage of a single member LLC in Florida, the decision unfortunately calls into question the effectiveness of multi-member LLCs in that
On June 24, 2010, the Florida Supreme Court ruled in Olmstead v. Federal Trade Commission that a charging order is not the exclusive remedy for a judgment creditor against a debtor’s single member LLC interest. This means that in Florida, a judgment creditor can essentially seize a debtor’s single member LLC interest and gain full
A fascinating article by Daniel J. Wakin in the November 29, 2010 New York Times reveals that even Mozart should have done some asset protection planning.
An aristocratic friend of Mozart’s sued him and won a judgment for an amount of more than two times Mozart’s annual income. The judgment called for garnishing half of
