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Attorney Gary A. Forster’s key amendments make the Nevis LLC a more effective planning tool for financial professionals and their clients

Orlando, FL – On May 27, 2015, the Nevis Island Assembly passed much needed protections to its Nevis LLC Ordinance. Gary A. Forster, Managing Partner at the law firm of Forster Boughman & Lefkowitz (www.fbl-law.com) says that for years his firm has used the legal protections offered by this small Caribbean nation as part of its international practice. Mr. Forster also recognized deficiencies in the prior law (Nevis LLC Ordinance of 1995). Mr. Forster presented his concerns to a contact in Nevis, was asked to draft suggested amendments, and his amendments have been adopted in the new Nevis LLC law. (Nevis Limited Liability Company Ordinance (Amendment), 2015)

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Article Written for:  AccountingToday.com

Effective asset protection requires the strategic use of several legal components. These include the transfer of assets to protective structures (such as limited liability companies and trusts), proper allocation of legally protected assets, insurance and proper titling of assets to maximize legal exemptions from claims. Proper structuring insulates assets against claims from future, unknown creditors.

Published in Publications

Article Written for:  BizJournals.com

As the story goes, John D. Rockefeller was getting his shoes shined when the shoeshine boy, not knowing whose shoes he was shining, started offering stock tips.That was Rockefeller’s cue to turn bearish on the stock market. "Secret" tips lose their efficacy when no longer secret. While speaking at a recent seminar, we received several questions from CPAs and financial professionals about the use of Delaware bank accounts to protect cash. The questions reflect a national trend to use Delaware accounts for "asset protection."

Published in Publications

Article written for: Orlando Business Journal 

Limited liability companies have become the entity of choice for small business owners and are commonly used by professionals in asset protection planning. Choosing to form an LLC instead of a corporation may be prudent, but it raises the question of where to form the LLC. There are several factors to consider in deciding where to establish the entity. Picking the right LLC jurisdiction may be as important as the decision to use an LLC.

In 2010, the Florida Supreme Court issued a ruling that eviscerated the effectiveness of the Florida single member LLC for asset protection purposes.

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Forster Boughman & Lefkowitz

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