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The Asset Protection Law Letter
A Service of Klueger & Stein, LLP


               THE ASSET PROTECTION LAW LETTER

Is Nevada a Good Bet for Asset Protection?

When it comes to protecting assets from creditors, state laws determine whether debtors remain safe from creditors. Florida and Texas have some of the more debtor-friendly state laws, however, with the introduction of N.R.S. 86.401.2(a) in 2011, Nevada became the most debtor-friendly state in the United States.

Despite negative inferences, Nevada legislature explains that there are individuals and businesses whose professions put them at a higher legal risk, like doctors, and the state laws offer them the opportunity to safe-guard their assets and protect themselves from frivolous law suits and creditors.

Nevada is also the best place to form trusts because of the shorter two-year window which creditors have to try and garner debts owed. Once assets have been in a Nevada trust for two years, they are safe from creditors. The two-year time frame is the shortest in the United States.

One of the more popular options available in asset protection is the use of LLCs. This is because, in most states, including California, the laws prevent a creditor of a debtor-member of an LLC from getting to the assets of that LLC.  The only available option open to a creditor attempting to collect on a debt of a member of an LLC is something called a Charging Order.


Upcoming Seminars 

Tax Strategies for the Sale and Purchase of a Business
by Robert Klueger on April 15, 2014
Location: Culver/Marina Bar Association  

Buying and Selling a Business 
by Robert Klueger on May 20, 2014
Location:Orange County Enrolled Agents - Orange County

Buying and Selling a Business 
by Robert Klueger on May 28, 2014
Location:California Society of Tax Consultants- Long Beach

Trusts
by Jacob Stein on June 09, 2014
Location:CPA Education Foundation - San Fernando Valley

Asset Protection Planning
by Jacob Stein on June 18, 2014
Location: San Mateo County Bar Association

Asset Protection Planning
by Jacob Stein on June 23, 2014
Location: CPA Education Foundation - Beverly Hills

Click to view a complete list of seminars
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Robert F. KluegerJD, LLM 
Mr. Klueger is one of the very few private attorneys in America who has argued a tax case before the United States Supreme Court...
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   Jacob Stein, JD, LLM
Mr. Stein is one of California's best known attorneys, teaching dozens of legal seminars each year on the subjects of asset protection and...
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