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Articles by Jeffrey Matsen

• How The Mortensen Case Affects Domestic Asset Protection Trusts
  Since there really are no other relevant cases, the Decision has generated a lot of interest and comment. I don't think it is the "death knell' for domestic self settled trusts, especially for those trustors who don't declare Bankruptcy, but clients should be aware and well advised about Bankruptcy Section 548 (e) which contains the 10 year look back self settled trust rule.
  Published 02Dec2011, viewed 149 times

• Bullet Proofing Your Corporation
  Many small business owners are well aware of the importance and benefits of incorporation. If properly formed and operated, a corporation shields its shareholders from personal liability. Failure to comply with the above formalities can subject you to monetary fines, personal liability, or even loss of control over your business.
  Published 07Nov2011, viewed 100 times

• Asset Protection and Marital Planning
  Under California law, a married couple can transmute community property into separate property. See Family Code Section 850. The agreement of spouses to separate and divide their community property whether by formal written contract or informal transmutation between themselves will be enforced.
  Published 03Nov2011, viewed 172 times

• Domestic Asset Protection Trusts
  As a general rule, self settled trusts are not protected from creditors. However, recently the States of Alaska, Delaware, Nevada, Rhode Island, Colorado, Missouri, Utah and South Dakota have provided various degrees of asset protection legislation in a self settled trust.
  Published 01May2011, viewed 169 times

• Limited Liability Companies and Operating Agreements
  Is Your LLC's 'Operating Agreement' Sufficiently Worded To Protect Your Personal Assets? Once you've formed a limited liability company (LLC) by filing the Articles of Organization, what's your next step? The most critical component of an LLC is the 'Operating Agreement'
  Published 29Apr2011, viewed 275 times

• Limited Liability Companies Protect Assets and Reduce Taxes
  One of the most effective methods of estate planning and asset protection is to hold personal or business assets in a limited liability company (LLC) or limited partnership (LP), rather than owning such assets directly in your own name or in the name of a living trust.
  Published 01Apr2011, viewed 320 times

• Protect Your Business
  Banks don't just close, right? Yes, they do. But by taking the right steps to safeguard your business assets, a bank failure won't cost you the value of those deposits.
  Published 29Mar2011, viewed 219 times

• Types of LLCs and Steps to LLC Formation
  In California, an LLC may be set up to engage in any lawful business activity, "except the banking, insurance or trust company business". However, the use of an LLC for the practice of licensed professions and occupations is generally prohibited.
  Published 28Mar2011, viewed 180 times

• Transferes into a Family Limited Partnership or LLC
  A Family Limited Partnership or LLC is typically utilized in an estate plan as a vehicle for making "leveraged" or "discounted" gifts to children or other family members and loved ones. The FLP is simply stated a partnership arrangement between family members wherein the senior family members maintain full control over the management and investment decisions relating to all of the underlying partnership property.
  Published 26Feb2011, viewed 485 times

• Gifting and Discounts of Family Limited Partnership Interest
  The Family Limited Partnership is set up so that the transferor can contribute assets to the FLP in exchange for both general and limited partner interests. The general partners maintain virtually all of the power and determine what happens to the assets in the FLP. The limited partners will enjoy an ownership interest but have few rights or power.
  Published 20Feb2011, viewed 449 times

• Transfereing property in California for Estate Planning Purposes
  In the case of real estate, the due on Sale Clause or Acceleration Clause of the underlining promissory note and deed of trust which secures the real estate to be transferred should be reviewed. Moreover, care should also be taken to avoid triggering reassessment of property taxes under Proposition 13 and the Change In Ownership Rules.
  Published 20Feb2011, viewed 213 times

• Family Limited Partnerships and Valuations and Estate Tax Consequences Recent Cases Part 1
  Over the last few years or so, there have been several cases decided involving Family Limited Partnerships and Limited Liability Companies and valuation issues or inclusion in the federal gross estate pursuant to Section 2036 (retain enjoyment or control). These cases have raised several issues worthy of study and review of which practitioners must be aware.
  Published 09Jan2011, viewed 213 times

• Drafting The Operating Agreement
  Prior to the formation of the LLC, the members should consider and analyze the various factors involved in selecting the appropriate form of business entity. The gathering of the essential data and information about the contemplated enterprises is essential.
  Published 09Jan2011, viewed 202 times

• Family Limited Partnerships and Valuations and Estate Tax Consequences Recent Cases Part 2
  Over the last two and one-half years or so, there have been several cases decided involving Family Limited Partnerships and Limited Liability Companies and valuation issues or inclusion in the federal gross estate pursuant to Section 2036 (retain enjoyment or control). These cases have raised several issues worthy of study and review of which practitioners must be aware.
  Published 08Jan2011, viewed 230 times

• The Real Cost of Probate
  Sorrow, emptiness, sadness and loneliness are over whelming emotions in themselves to deal with when losing a loved one. Probate is yet another obstacle many people face when trying to heal from tragedy - and it's all too often unnecessary!
  Published 11Nov2010, viewed 205 times

• For Whom The Bells Toll: Asset Protection May Be For Everyone
  What about the non professional or non business owner - the average individual who is not engaging in a liability related activity? Does the average person really need Asset Protection Planning? In this example they do.
  Published 06Nov2010, viewed 181 times

• Putting Personal Residences into an FLP or FLLC: A No-No
  It wouldn't appear that placing a personal residence into an FLP or FLLC will really protect it from creditors. Transferring the residence to a Domestic Asset Protection Trust is a very viable alternative as is equity stripping.
  Published 09Oct2010, viewed 225 times

• From Tragedy To Big Tax Savings For Small Business Owners
  An unbelievable tax dodge with huge tax benefits -or- The proper tax and legal advice which included a very practical and well thought out plan? This article is a true story about a small business owners misfortune and the IRS' audit. The small business owner won.
  Published 31Jul2009, viewed 263 times

• An Ounce of Prevention (and Proper Planning) Can Offset a Pound or More of Liability
  Real estate investments (other than your personal residence) need to be placed in a liability protected entity like a limited liability company. The risks are too great to take a chance for personal exposure above and beyond the value of the property. The set up of a limited liability company is at least the threshold step that should be taken for the protection of personal assets when real property is involved.
  Published 04Jun2009, viewed 218 times

• How To Avoid Probate - Almost
  Probate should be avoided because it can be very expensive. Legal and Executor fees and other costs have to be paid before your assets can be distributed to your heirs. The cost of Probate is based on the value of the property in your estate If you own property in other states, your heirs could face multiple Probates each one according to the laws of that state.
  Published 30May2009, viewed 332 times

• Is Your California Limited Liability Company In Proper Compliance?
  This article describes what is required to keep your California LLC in compliance with state laws and requirements.
  Published 29Apr2009, viewed 235 times

• FDIC Insurance for Corporate Accounts
  In light of the current state of the economy and the roll of thegovernment and the banks, we though it prudent to comment on corporate accounts and how they are insured by the FDIC.
  Published 29Apr2009, viewed 279 times

• Why Use Family Limited Liability Companies?
  This article explains why you should use a family limited liability company (FLLC), what it is, how it is set up,the asset protection features,How it saves Estate Taxes, how to control the property, tax free gifting to heirs, and lifetime gifts.
  Published 29Apr2009, viewed 238 times

• Business Contracts Provisions
  This short srticle merely touches on some important, very fundamental contract provisions. Obviously, any contract should either be prepared or reviewed by a competent attorney.
  Published 29Apr2009, viewed 206 times

• Warning: Protect your Real Estate Investments
  This is a brief article on protecting your real estate investment by placing it in a Limited Liability Company.
  Published 29Apr2009, viewed 188 times

• Avoid VEIL Piercing of Limited Liability Companies
  One of the principal legal benefits for business owners and real estate investors in using LLCs to conduct their businesses and hold their real estate is the limited liability shield provided by LLC statutes to LLC members and managers. This shield protects the personal assets of these members and managers (e.g., their homes and savings) from being at risk for debts of the LLC and the business assets and real estate the LLC owns.
  Published 29Apr2009, viewed 195 times

• Limited Liability Companies Defined
  This article answers some basic questions about LLCs, defines certain asspects of the LLC, and provides exaples to illustrate how LLCs are used
  Published 16Apr2009, viewed 209 times

• Asset Protection Planning; Why Go Offshore
  Offshore asset protection planning normally involves the utilization of offshore trusts and other entities. Offshore planning generally raises justifiable concerns with respect to asset security and tax issues. The most efficacious manner to address these concerns is to make certain that you are receiving the best advice and counsel from a qualified expert in the area with expertise in the field and is recognized and regard by his peers.
  Published 02Apr2009, viewed 230 times

• What Every Physician, Business Owner and Professional Needs to Know About Asset Protection
  A significant and fundamental approach to addressing all the legal and tax concerns of business owners, physicians and other professionals by implementing a systemic tiered approach which called "The Ladder of Success". Each step on the ladder or level of strategy provides immediate asset protection and estate planning benefits.
  Published 31Mar2009, viewed 350 times

• The Nevada Asset Protection Trust
  Only a minority of states permit self settled Asset Protection Trusts. The benefits of using the Nevada Asset Protection are outlined in this article along with who typically benefit from THE NEVADA ASSET PROTECTION TRUST.
  Published 31Mar2009, viewed 240 times

• Asset Protection Planning Part 3 of 3
  This the last article in a three part series on asset protection planning. This article discusses Equity Stripping, Exemptions, and Sophisticated Asset Protection Planning Methods.
  Published 28Mar2009, viewed 319 times

• Asset Protection Planning Part 2 of 3
  This is the second article in a three part series on asset protection planning. In this article, the following is discussed: -Transmutation by Utilization of Charging Order Business Entities as it Effects Both Limited Partnerships and LLCs. -The Charging Order Entity -Asset Protection Structuring
  Published 28Mar2009, viewed 641 times

• Asset Protection Planning Part 1 of 3
  This the first of a three part series on Asset Protection Planning. This article gives the history, defines what Asset Protection planning is and goes on to cover Fraudulent Conveyance Law, Marital Planning, and the Use of Trusts in Risk Management Planning.
  Published 28Mar2009, viewed 308 times

• Utilizing Asset Protection Trusts and Limited Liability Companies
  Over the last few decades, expanding theories of liability and the proliferation of litigation has given increased emphasis to Asset Protection Planning above and beyond the corporate shield of protection. Potential liability is a major concern to doctors, dentists, other professionals and persons of high net worth engaged in business or real estate activities.
  Published 20Mar2009, viewed 386 times

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