10 Reasons Why You Should Not Use LLCs to Hold Real Estate

10 Reasons Why You Should Not Use LLCs to Own Real EstateBecause I am an estate planning and asset protection attorney, I speak to folks everyday about the formation of limited liability companies (“LLCs”). Usually, these folks want to protect their personal assets in the event one of their tenants gets injured on one of their rental properties. I form ...

Yellow Dot Program

Nevada introduced a life-saving program that alerts “first responders” at a car accident scene that an occupant of the vehicle has special medical issues. This information is critical in the “golden hour” following an accident. Emergency workers can now increase the chance of survival for a victim who may be incapacitated. A yellow dot decal is placed on the rear ...

American Parents Disinherit Children

Don’t Be Fooled Into Thinking Your Children Will Receive Their Inheritance Just Because You Have a Trust When you die, will you accidentally disinherit your children?  Unfortunately, unless the parent has protected the assets for the child, those assets will always be open to divorce, bankruptcy, IRS problems or lawsuits the child may experience.  Yes, the probate has been avoided …

Top 100 Lawyers

<a href="http://thenationaladvocates.org" target="_blank"><img src="http://www.thenationaladvocates.org/images/Advocates-top-100-member.png" alt="The National Advocates" width="300" height="&quot;167”" /></a> The National Advocates organization is pleased to announce that Mr. Gary  Fales has been selected for inclusion into its Wills, Trusts and Estates specialty, an honor given to only a select group of lawyers as recognition of their superior skills and qualifications in the field. The selection for this exclusive list is limited to only 100 ...

Parents Helping Kids

Lately I've come across more and more families that working together to build wealth.  It seems like it's getting harder for kids to get a head start in this economy.  Here are some suggestions from my estate planning and asset protection point of view. The ultimate ownership of the business/assets should be owned by a trust. Do not try to ...

Postnuptials for Children

I have found many parents are worried about the spouse of their children taking too much control over the inherited assets.  I just met with such a person.  The daughter-in-law has been "nasty" to the my client--the mother-in-law.  My client doesn't want her son to lose his inheritance as a result of co-mingling. In other words, when she dies, the ...