Asset protection

Collapse
X
Collapse
 
  • Page of 1
  • Time
  • Show
Clear All
new posts
Previous template Next
  • mkx
    Confirmed User
    • Nov 2003
    • 4001
    #1

    Asset protection

    I was thinking of a new asset protection strategy and wanted some opinions from fellow business people.

    Company 1 - Holding corporation - Owns all realestate and other large assets.
    Company 2 - Operating company - Leases assets from holding corporation.

    Now I know this is standard corporate setup but I was wondering if having 2 or 3 shareholders / partners of the holding corporation (no one owning more than 49% of the shares) will add further asset protection in the case of one of the shareholder's having personal debt or other problems and their personal assets taken. From what I know, if they do not own 51% or more of the corporation, than the corporations assets cannot be touched. Hoping for some clarification or
    Tags: None
    • azguy
      Confirmed User
      • Nov 2004
      • 5167
      #2
      People who really need asset protection can afford a decent lawyer / financial advisor

        Comment

        • slapass
          Too lazy to set a custom title
          • Nov 2002
          • 14625
          #3
          I like your idea. Obviously the other response is from someone who has no clue.

            Comment

            • llporter
              Confirmed User
              • Jul 2005
              • 3221
              #4
              Originally posted by azguy
              People who really need asset protection can afford a decent lawyer / financial advisor

                Comment

                • azguy
                  Confirmed User
                  • Nov 2004
                  • 5167
                  #5
                  Originally posted by slapass
                  I like your idea. Obviously the other response is from someone who has no clue.
                  Or someone who is not going to lay out his own strategies on a board full of FTC and other government officials

                    Comment

                    • woj
                      <&(©¿©)&>
                      • Jul 2002
                      • 47880
                      #6
                      Originally posted by azguy
                      People who really need asset protection can afford a decent lawyer / financial advisor
                      very true
                      Custom Software Development, email: woj#at#wojfun#.#com to discuss details or skype: wojl2000 or gchat: wojfun or telegram: wojl2000
                      Affiliate program tools: Hosted Galleries Manager Banner Manager Video Manager
                      Wordpress Affiliate Plugin Pic/Movie of the Day Fansign Generator Zip Manager

                        Comment

                        • azguy
                          Confirmed User
                          • Nov 2004
                          • 5167
                          #7
                          Originally posted by slapass
                          I like your idea. Obviously the other response is from someone who has no clue.
                          And just to prove my point of wrong GFY information - his idea sucks and will bring even more trouble.

                          http://www.irs.gov/businesses/small/...106540,00.html

                            Comment

                            • azguy
                              Confirmed User
                              • Nov 2004
                              • 5167
                              #8
                              Originally posted by woj
                              very true
                              Hey man what are you doing here, the posts in this thread didn't even hit double digits yet

                                Comment

                                • Doctor Dre
                                  Too lazy to set a custom title
                                  • Jan 2001
                                  • 51692
                                  #9
                                  Originally posted by azguy
                                  Or someone who is not going to lay out his own strategies on a board full of FTC and other government officials
                                  What's wrong with it if the strategy is legal ?
                                  Originally posted by rayadp05
                                  I rebooted, deleted temp files, history, cookies and everything...still cannot view the news clip. All I see is that fucking gay ass music video from "Rick Roll". Anyone else have a different link to the news clip?

                                    Comment

                                    • azguy
                                      Confirmed User
                                      • Nov 2004
                                      • 5167
                                      #10
                                      Originally posted by Doctor Dre
                                      What's wrong with it if the strategy is legal ?
                                      It really all depends on who he's trying to protect the assets from

                                        Comment

                                        • thewebgarage
                                          Confirmed User
                                          • Sep 2002
                                          • 1002
                                          #11
                                          the ideal would be to build up those 2 corporations get them going and establish credit and have them run separate from you. meaning you aren't co-signing everything. Then you get investors and sell 51% or more of the shares or stack in the company. that would protect the company. it might not protect someone from getting your stack in the company
                                          Big Boob trades icq 265907826

                                            Comment

                                            • TheSaint
                                              Confirmed User
                                              • Jun 2003
                                              • 991
                                              #12
                                              Its not really true. Even if you only own 1% of a corporation, and are not an insider or director, it might be true that the corp's assets are not yours and can't be taken for your debts.

                                              None the less, YOUR shares of that corporation can be taken, and sold to the highest bidder, so you have lost those assets that were "protected" anyway.
                                              I have no signature

                                                Comment

                                                • mkx
                                                  Confirmed User
                                                  • Nov 2003
                                                  • 4001
                                                  #13
                                                  It is definately a legal structure as long as it isn't set up while major debt starts to occur or for fraudulent purposes. I know how the holding company structure works but my main concern is having only 2 or 3 shareholder's all holding less than 49% of the shares of the holding company so it is protected against a company going after a shareholder for whatever reason and taking assets of the corporation other than the shares. I already consulted my lawyer on this but its good to have a second and third opinion.
                                                  Last edited by mkx; 07-24-2005, 08:15 PM.

                                                    Comment

                                                    Previous template Next
                                                    Working...