Asset Protection Law Journal

Asset Protection Law Journal

Helping individuals and businesses take advantage of asset protection laws

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New Nevada Law Increases Protection of Single Owners of Corporations and LLCs

Posted in Charging Order, Limited Liability Company

On June 16, 2011, Nevada’s governor signed a new law specifically making a charging order the exclusive remedy of a judgment creditor against owners of both LLCs and corporations in Nevada.  The legislation specifically includes a sole member of an LLC and a sole shareholder of a corporation. Nevada is clearly working to provide better asset protection for… Continue Reading

Florida is Still a Debtor Friendly State for Asset Protection

Posted in Asset Protection Strategies/Alternatives, Charging Order

The Florida Supreme Court recently ruled that a charging order is not the only remedy for creditors of LLC owners. My blog post of August 2, 2010 outlines the Florida Supreme Court decision. While the decision applied to a single member LLC, it could apply to multi-member Florida LLC’s as well. For the time being, Florida LLC owners… Continue Reading

LLC Better than a Corporation for Asset Protection Purposes

Posted in Charging Order, Limited Liability Company

A limited liability company (LLC) will generally provide better asset protection to its owner than a corporation. A limited liability company (“LLC”) is a hybrid type of legal entity that has some characteristics of a corporation and some characteristics of a partnership. Owners of an LLC are called members; they can elect to receive pass through tax… Continue Reading