Law Blog

Real Estate Investment: Structuring the 1031 Exchange

This is the third and final part of our discussion regarding the use of a 1031 Exchange to defer tax on real estate investments. Used correctly, real estate investors might even defer tax indefinitely—or at least during their lifetime.

Real Estate: FIRPTA

Investors that come to us early can structure their US holdings to avoid unnecessary complications, such as withholdings under the Foreign Investment in Real Property Tax Act (FIRPTA).  If you did not plan ahead, then this article is for you.

Business: Costs of Litigation (State Court)

It is essentially impossible to tell a client just how much a lawsuit will end up costing.  However, that does not mean you cannot have some idea of what to expect.   That is the purpose of this article. 

REAL ESTATE: Buying a Home in Someone Else’s Name

It is quite common for people to “borrow someone’s credit” or title a property in someone else’s name, and the reasons behind it are understandable enough.  The purpose of this article is to make you aware of the implications of buying a home in someone else’s name.

Eligible Investors in QOFs

ESTATE PLANNING: Advantages of a Will

We all have a tendency to put off thinking about our own demise. It usually takes some kind of prompt to get us to take the time – and pay the money – to have a will drafted. That prompt may come in the form of the birth of child or development of health issues. Those are common reasons people start thinking about their last will and testament, but are they the only reasons?

ASSET PROTECTION: Offshore vs. Domestic Trust (US Persons)

Offshore work has always been part of our practice. With recent changes in the law, though, we have been moving away from recommending offshore to our US clients in favor of using domestic trusts.

BUSINESS: LIMITING PERSONAL LIABILITY

This is the final part to our discussion aimed at helping owners and officers avoid personal responsibility for the obligations and liabilities their companies take on in the course of doing business. The first part provided an overview of the key issues related to corporate liability. The second part focused on what not to do. Here, we get to proactive techniques for guarding against personal responsibility.

BUSINESS PRACTICES: LIMITING PERSONAL LIABILITY

This is a continuation of our discussion regarding the breakdown of liability protection afforded to owners and officers as a result of the economic crisis and business scandals in the US and around the world. It is true the American legal system is set up to shield owners/officers from corporate liabilities, but nothing draws public outcry like an executive who fills his pockets through misdeeds and then hides behind the corporate skirt.

BUSINESS: LIMITING PERSONAL LIABILITY

The law has shifted in recent years towards weakening corporate liability protections. That makes it easier for plaintiffs and regulators to “pierce the corporate veil” and get to the assets of owners and officers.

E-1

ESTATE PLANNING: Trusts

Our firm works with Europeans and South Americans, whose legal codes essentially disallow (or disregard) the concept of a trust. It is sometimes hard to explain to such clients the advantages of a trust because it just sounds too good to be true.