Landmark Court Case Decided

In the most significant court case decided in the last ten years in asset protection planning, the Florida Supreme Court (Olmstead v. Fed.Trade Comm'n SC08-1009, 6/24/10) held that a creditor of a member of a single member Limited Liability Company (LLC) has all of the normal rights of a creditor (for example the rights to levy and sell). Thus, while the LLC Act speaks to a creditor having the right to obtain a charging order (very similar to a Writ of Garnishment--all distributions made to the member are instead paid to the creditor) and that an assignee (for example, a creditor) of a member does not become a member, with respect to a single member LLC, the court ignored the statute (according to the dissenting judges).

More importantly, the Supreme Court Justices raise some significant questions in the reasoning they used to decide the case. If the reasoning is valid, then all membership interestes in all LLCs are at risk. The reason this decision is so significant, is because no other supreme court in the country has addressed these issues. Other courts might rely on this case in deciding the creditor's remedies against a member's membership interest.

To learn more check out our newsletter entitled: "New Risks for Limited Liability Companies: New Opportunities for Debtors".

To view a segment from this two hour seminar select:

The most important asset a physician owns is their homestead property. And fortunately in Florida the homestead can be the most protected asset from creditors. However, in many cases mistakes are made that puts this debtor protected asset at risk (even when the physician receives expert legal advice). To learn how to protect the homestead and to avoid "The Five Greatest Blunders in Protecting the Homestead from Creditors", we now offer a new 2 hour seminar. Simply make your selection and view a video clip from this seminar. Or if you want to read the last newsletter devoted to these five blunders select: newsletter.

How Can a Physician Survive the Malpractice Crisis?

In the midst of the current medical malpractice insurance crisis in Florida, few alternatives are available to the practicing physician.  Does the physician pay the outrageous insurance premiums or do they go bare?  Or does the physician simply do what so many have done recently in Florida, retire from the practice of medicine or limit the nature of their practice?

Our company is focused on providing lawful means of protecting a physician's assets from creditors and to design and monitor their practice in a manner which will maintain the statutory, constitutional and common law protection arrangements and exemption available  to Florida residents.

The four step process we offer includes:

• Education of the physician and the physician's professional advisors on every appropriate protection arrangement;
• Preparation of a comprehensive preservation plan;
• Full implementation of the plan;
• Monitoring the plan for changes in the physician's professional, personal and financial life and changes in the law.

Once the preservation plan is in place, with our monitoring services, the physician can focus more on the noble practice of medicine and rest assured that the fruits of their labor will be protected.