Category Archives: Entities
BOTTLED BUSINESS SENSE SHOW on BlogTalkRadio
Have you ever wondered what terms like, “Articles of Incorporation,” “Organizational Meeting,” “Bylaws'” and “Minutes” actually mean, and do you know when and how to apply them to the smooth operation of your business entity? In this show, Bill and Rick discuss these issues and much more as it regards the practical everyday business tips you need to keep your entity protection the best it can be.
As a consequence of requests resulting from a past show referencing trust asset protection principles, this show’s focus is linked to beneficiaries of a trust and the creditor protection they are afforded under certain circumstances. While we advocate sound, advanced planning and working off of a solid financial foundation, sometimes problems just can’t be avoided, even under the most thoughtful case scenario.
Bill and Rick entertain a unique discussion on the integration of Estate and Asset Protection principles that explore the potential to attain more complete business and personal asset protection, while also retaining the power to control assets that might otherwise be prohibited.
Bill and Rick discuss the basic framework of an estate plan for family and business asset preservation and how you can pass on your net worth to loved ones without the costly expense of probate. Also discussed are other advantages of securing a complete trust package, such as complete privacy from prying eyes, as well as the specific documents of which it is comprised.
Bill and Rick discuss important information that will address your ability to keep your business entity “up and running” smoothly. It will essentially cover the “red flags” that you need to be aware of in terms of what you must do and not do, in order to avoid having your entity labeled as a mere “shell”, thus allowing creditors and potential litigants to reach your personal assets in spite of your entity’s existence.
This show discusses key distinctions between the most popular entities from the standpoint of asset protection, and to a degree, some general tax advantages. Primarily, LLC’s and S-Corporations are chosen by small business owners, although the characteristics of other entities, such as C-Corporations and Professional Limited Liability Companies (LLP’s), are also distinguished. Goal-setting and where you want to take your business based upon its purpose and type of service and/or product being marketed, is of primary concern in choosing the right business entity.
This week’s show discussed various types of business entities and why a business owner should prioritize and “entisize”—meaning plan and have prepared, a business entity structure that meets the goals of the business in which he or she provides goods and services. Bill and Rick discussed in some detail the benefits of having a business entity that separates the business from its owner, thus providing some of the best asset protection available, while also providing many other avenues of business growth opportunities and even tax benefits. The “meat and potatoes” of the more popular forms of entities was discussed, as well as their distinctions. If you have a business of your own, or if you’re thinking of starting one, this is where you want to be every Tuesday morning at 10:00 am pacific time.
