There’s a certain violence that goes unreported to the police every day in America. This violence occurs to a third of all US citizens over their lifetimes, but you don’t often see it reported in the news headlines. Millions and millions of cases a year…but you might think it can’t happen to you. What are these violent acts that slide by the authorities? Read More
If you search the interwebs for asset protection for the cannabis industry, you mostly find companies offering services to physically protect assets like farms, products, and piles of cash. We’re talking security, alarms, armored cars, armored men, etc. But what about protecting your assets, i.e. the profits made from successfully operating a business in the cannabis industry? Since the Trump election, people have been wondering whether the federal government will crack down the industry. Read More
A recent episode of Silicon Valley addressed what happens when a company violates a Federal Trade Commission (FTC) regulation. One of the show’s characters accidentally violates the FTC’s Children’s Online Privacy Protection Act (“COPPA”). The COPPA rules are meant to protect kids from all the perves lurking out on the interwebs. By overlooking these regulations, the company’s app lures in a bunch of creepy old dudes. By the time the characters figure out their mistake, they’ve already racked up millions of dollars in penalties and fines. Read More
Nothing seems to hotter right now than entrepreneurship. Specifically…entrepreneurship for people with jobs. I mean why work for somebody else from 40 hours a week for some jabroni when you could work for yourself for 100+ hours a week!? We’re talking about having a side hustle here. Maybe I’ve been listening to too much GaryVee, but it seems a lot of the young-folks these days want to start a business in their spare time.
So what if you have this side hustle, but you don’t want your current boss to find out about it? That’s a questions we get all the time (three times counts as “all the time” right?). Read More
Simply put, an anonymous LLC is just like a “regular” LLC, except that the ownership details of the company are not published for any Tom, Dick or Harry to review. In fact, some states don’t even share the information with the IRS. They are also known as privacy LLCs. Read More
Part of the fun of being an estate planning attorney is when people ask you interesting questions. I was recently asked what would happen if somebody disappeared on an African safari. Sure…a pretty random question for most people, but this client saw a friend go through this process after a loved one disappeared and never returned. I had no idea about the actual process, but was able to agree it would involves courts and lots of time. This friend spent about 10 years trying to resolve the matter. That’s a long time!
When you don’t know something obviously you go straight to
Wikipedia the law library and crack the books. Read More
Ok maybe I’ve never unleashed a rant about privacy on this website…but they’re coming! And if you’ve spent any time around me in person, you’ve probably heard my complaints about privacy.
This seems like a timely rant as we have gotten (ANOTHER) glimpse behind the curtains of US government surveillance. Although it’s been known for quite some time that the government has and does collect massive amounts of data on citizens and non-citizens alike. The current revelation is that the CIA (allegedly) has the ability to monitor what was believed to be encrypted communication through apps such as WhatsApp, Signal, etc. Putting aside why I think that is terrible (and the dumb argument of “if you’ve got nothing to hide…”), I’m also concerned by Read More
The Limited Liability Company is a popular business entity because they are easy to run and reduce the personal liability of the owners. Not all LLCs are created the same, however. In most states, multiple member LLCs are afforded more liability protection than the single member LLC, or spoused-owned LLCs in some states. Read More
One of the foundations of any asset protection plan is determining what types of liability a person needs to plan for. I’ve defined inside vs. outside liability before, but it’s a very important topic, so it’s worth further exploration in this video. Read More
Owning rental property in your own name is not a good idea. Landlords face increased levels of liability compared to somebody who say, invests in bonds, or something like that. So why is it a bad idea? Check out the video for more info. Read More
Retirement accounts are protected from creditors in Washington state. Lawsuit judgment? Bankruptcy? Your retirement savings is golden. But what if you inherit an IRA from somebody else (besides your spouse)?
An inherited IRA in Washington, and most other states, is not protected from creditors or bankruptcy. The basic reason for this: it wasn’t your retirement savings. With some asset protection trust planning, creditor protection can be passed along with your IRA. Check out the video for some more information. Read More
Medical professionals face high levels of liability. A 2010 survey by the American Medical Association (AMA) found that more than 60% of doctors had been sued at least once by late career. Furthermore, over 80% of surgeons have been sued at least once.
The Physician Insurers Association of America writes the defense against a medical malpractice claim averages over $22,000 for lawsuits that are dropped, dismissed or withdrawn, and more than $100,000 for cases that go to trial. Read More
All trusts are not created equal. A living trust, or revocable living trust, is one of the most common trusts utilized by estate planning attorneys. It’s a great way to avoid the hassles of probate, but will the assets inside of the living trust be protected from creditors? Check out the video to learn more! Read More
One of the most common questions I receive is about protecting home equity. It makes sense as for many people, a home is one of the most valuable assets they own. Also, living in the Seattle area, the real estate market has been growing at an incredible rate! Home owners are seeing their equity sky rocket and in turn get a bit nervous about how to protect that equity from lawsuits and creditors. Check out the video to learn about how much equity is protected by state law and hear what common mistakes home owners often make. Read More