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Dentists Legal Club - DDS Legal Club ™ 
Specialized Tax and Asset Protection Information for Doctors & Dentists From
Specialized Attorney Defenders With Over 33 Years of Experience!

DoctorsLegalClub™ is a specialized information site for the independent medical professional. This site serves the latest news and articles concerning What’s Legal, What’s Not™ in Law, Tax, Asset Protection, and Business.

Legal Risks & Asset Protection: Legal risks and asset protection planning is not simply the use of a PC, Family Limited Partnership, LLC, or offshore trust. In fact many times it’s more about what ‘situs’ to avail yourself to and what devices, methods, techniques or situs not to use! It’s knowing the legal and governmental climate or tolerance for use of a full array of legal risk and asset protection devices, methods and techniques. It pays to know where the trend is going!

Offshore: For example, let’s discuss “offshore”. It’s critical to understand that bills passed by Congress in 2007 expressly target use of offshore trusts, devices, bank accounts, insurance schemes, and transactions. The STOP TAX HAVEN ABUSE ACT would impose numerous ‘factual’ and ‘guilt’ presumptions of wrongdoing, even if you are not named directly or indirectly on the offshore device (and use a ‘protector’). Click here for an article about this new offshore trend.

Domestic: Don’t be fooled into thinking that the new bills passed by Congress are only targeting ‘offshore’ activity because the very heart of asset protection is vulnerable under the new codification of the ‘form over substance’ doctrine. Click here for an article about this new domestic trend.

Tax Efficiency vs. Avoidance of Capital Gains or Income Schemes: First of all, tax schemes for tax sake are now suspect and targeted itself. New bills passed by Congress reveal the trend that - tax benefits are not allowed if the transaction (or series of transactions) does not have “economic substance” or “lacks a business purpose”. Click here for an article about this Congressional trend.

Avoiding Captial Gains with the Private Annuity Trust (PAT): For example, Private Annuity (Trust) tax deferral is dead. On October 17, 2006 the I.R.S. issued Proposed Regulations 1.72-6(e) and 1.1001-1(j) (reversing Rev.Rul. 69-74) covering certain (private) annuity trust transactions entered into after October 18, 2006, and other types entered into after April 18, 2007. The Private Annuity (Trust) is effectively DEAD after April 18, 2007 in terms of avoiding or deferring taxes! Moreover, if you have such a trust you should contact a specialist attorney to review your situation to safeguard your rights and protections. Click here for more info on Taxes!

ONLY LEGAL METHOD OF PROTECTING ASSETS WHEN FACING A LAWSUIT OR JUDGMENT! Click here for more info.

EMAIL: MORE INFO | www.rydstromlaw.com

Legal Risks & Asset Protection

Legal risks and asset protection are a serious matter that must be addressed with an experienced attorney. Dentists Legal Club™ is a specialized information site for the independent medical professional. This site serves the latest news and articles concerning Whats Legal, Whats Not ™ in Law, Tax, Asset Protection, and Business.

Examples of issues you must address:

1. Entity Formation, Integration, Methods & Devices (D.I.M.E.™)
2. The Only Legal Method Of Protection If Being Sued!
3. How to Pack Your Retirement Safe Entity!
4. Domestic vs. Offshore
5. New Tax & Asset Protection Trends
6. New Tax & Asset Protection Traps
7. What’s Legal What’s Not! ™

Just 4 Examples of Asset & Legal Risks Protections:

Entities, Methods & Devices: LLCs, Corporations, Family Limited Partnerships, Living Trusts, Irrevocable Trusts, Life Insurance Trusts (ILIT), Dynasty Trust, Irrevocable Children’s Trusts, Qualified Personal Residence Trusts (QPRT), Grantor Retained Annuity Trusts (GRAT), Charitable Remainder Trust (CRT), Charitable Lead Trusts (CLT), Intentionally Defective Irrevocable Trusts (IDIT), Statutory Asset Protection Trusts, Private Retirement Arrangements, Property Agreements (Pre and Post Nuptial Agreements, Transmutation Agreements, Separate, Sole and Community Property Agreements, and Title Holding Agreements such as Joint Tenancy, Tenants in Common, TIC, CP ROS, etc.), Leases and Licenses, Contracts (renewability, terms), Entity Governance and Owner Protections (Employment Contracts, Buy Out Provisions or Agreements, Poison Pill Provisions, Bankruptcy Protection Provisions, ( www.bkuncertainty.com ), etc.), Warning as to Offshore Trusts & Credit and Bank Accounts, Private Annuity Trusts and Private Foundations, etc.

Patents & Copyrights: A separate entity (or entities) should “own” your patents and copyrights, which should “license” same to such entities, for a narrow purpose, for short periods of time, renewable by mutual agreement only.

Equipment, Tools, Machinery, Buildings, Leaseholds: A separate entity (or entities) should “own” your equipment, tools, machinery, furniture and fixtures, buildings or leaseholds, and lease same to the business operating entity, for a fair market lease rental amount.

Accounts Receivable & Inventory: Ownership of accounts receivable and inventory (or other balance sheet) should not be transferred to a separate entity because of tax and other legal business or accounting reasons. However, “financing” of such assets would result in an influx of “cash” to the owners with a loan payable. The cash should ‘secure’ the loan obligation to the priority financing asset lender. 

Click for more info.