Asset Protection for Internet Businesses

Will Your Internet Business Be Destroyed?

Just a short note to drive home something that’s very important to how you do business online.

What you don’t know CAN hurt you.

You can have a very profitable website and still lose everything because you didn’t take the right steps to protect yourself.

As with the Asset Protection Iron Triangle, you have to be concerned if your online business is in your own name and vulnerable to attack. Mike takes it a step further and teaches Internet marketers how to protect their websites from being stolen or being burned in joint ventures.

Lawsuits. CyberTheft. Investigations…and worse.

Suddenly, everything you’ve worked so hard for is gone.

Now there’s a solution.

Attorney Mike Young, the Internet lawyer for many big online marketers, has written a great new how-to book called:

“Internet Marketing Legal Secrets Revealed: How Millionaires
Protect Themselves Online…And You Can Too!”

If you’re already a client of Mike’s, or have seen him speak at a seminar, you know that he provides practical solutions because he’s both an Internet lawyer AND an online marketer too. This means he’s one of us.

This book contains simple and easy steps you can take to reduce your risk of being sued or having the government come after you for breaking laws you didn’t know existed.

Mike also teaches you how to protect what you own online to prevent others from stealing your stuff and getting away with it. Just preventing one lawsuit alone will make this book the most important one you’ve read since you started doing business online.

In addition to this book being a must-read if you’re serious about doing business on the Web, Mike’s included six great bonuses so help you protect and grow your business.

The book’s foreword, written by Andy Bourland, should not be skipped. Andy describes how Mike helped him put together a new joint venture called “ClickBank University.” It will give you a flavor for what’s involved from a legal standpoint in putting together
your joint ventures the right way.

With the new year just around the corner, give yourself peace of mind like I did by getting a copy of this book by clicking here now:

http://beatdown.lawguru.hop.clickbank.net/

I recommend Mike’s book for all Internet marketers. Theft is easier on the web compared to face to face. Prevention beats trying to recover your hard work and profits from those who would steal from you.

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Charles Lamm is a retired attorney and owner of Trustee and RA Services Inc. in Coral Springs, Florida. His program – the Asset Protection Iron Triangle – can be found at: http://www.corp-llc-bct.com.

Asset Protection Iron Triangle 1 Minute Seminar

View the video by clicking here.

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If I am a creditor, judgment lien holder, ex-spouse, or an IRS agent coming to take your stuff, and you own it outright in your own name, you really don’t own it anymore.

I do. You just don’t know it yet.

How do you protect your house, property, cars, boats, vacation homes, stocks, bonds, and cash from all of the predators out there? How do you protect yourself from me?

The key is control, not ownership.

You don’t have to go offshore. You don’t need a prenup. And you certainly don’t need some untested, unproven tax dodge that sets off IRS red flags.

All you need is a no-asset C corporation, a manager-managed limited liability company, and a beneficiary controlled trust – all specially designed to work together for maximum asset protection.

Find out more at:

www.corp-llc-bct.com

Before the predators come stalking.

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Charles Lamm is the distribution trustee for Beneficiary Controlled Trusts. Discover the Asset Protection Iron Triangle on his site at http://www.corp-llc-bct.com and how to protect your valuables from creditors, judgments, lawsuits, ex-spouses, the IRS, and the coming economic meltdown.

Asset Protection From the Trust Up

Asset protection against the causes of wealth depletion – lawsuits, judgments, creditors, ex-spouses, financial mismanagement, and the IRS – can be avoided or eliminated by the use of a Beneficiary Controlled Trust, created by someone else as Grantor and you as the Beneficiary/Investment Trustee.  A spendthrift provision and a second Distribution Trustee shields your assets from predators.

Full Story:   http://corp-llc-bct.com/2008/02/18/asset-protection-from-the-trust-up/

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Charles Lamm is a retired attorney and owner of Trustee and RA Services, Inc., in Coral Springs, Florida.  His asset protection articles appear on his blog at:  http://www.corp-llc-bct.com.  To learn more about how to combine a corporation, LLC, and Beneficiary Controlled Trust for maximum asset protection and tax benefits, please email him at:  asset-protection@corp-llc-bct.com.

Asset Protection Iron Triangle

The Asset Protection Iron Triangle uses a no-asset C Corporation, Limited Liability Companies, and a Beneficiary Controlled Trust to protect individual assets against lawsuits, creditors, judgments, ex-spouses, and the IRS.

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Asset protection is not just for the wealthy any longer. When a middle class home can easily run a half million dollars in Florida, and over a million in New York or California, anyone can become a target of lawsuits, divorce courts, and the IRS.

You have to dig a well before you are thirsty, or in this case, build a legal fortress before invading barbarians reach your gate.

Your tools to protect your assets are:

* “no asset” corporation
* limited liability company (LLC)
* beneficiary controlled trust

C-Corp:

A “no asset” C corporation will be the management company for your LLC.  The two work together to protect your property from those who would take it from you.

You are employed by the C Corp, not the LLC.  You can also be the sole shareholder and hold all of the officer positions.  Your corporation owns nothing but a checkbook.

Your corporation can pay for:

- medical insurance for the officers
- life insurance ($50 thousand limit)
- retirement plan

As an officer, you can be reimbursed for out-of-pocket medical expenses through a medical expense reinbursement plan (MERP).

Entertainment expenses directly related to the business can include:

- training expenses
- travel
- meals
- computer expenses
- phone expenses
- business gifts up to $25 per recipient

Never let your corporation pay for personal items.  Commingling of funds could pierce the corporate veil and make you personally liable for corporate debts in the event of a judgment against the corporation.

This is just a partial list of deductions for your corporation.  Consult your CPA or tax advisor for the latest changes in allowable deductions.

LLC:

Your limited liability company is where you earn your income.  Your LLC should also own any vehicles, equipment, computers, copiers, printers, and real property.

You want your Operating Agreement to make your corporation the Manager of your LLC.

Your LLC should also pay the bulk of your operating expenses for your office, supplies, travel, fuel, utilities, phone, computers, and more.

Your interest in the LLC will be as a 99% member will be owned by the trust.

Beneficiary Controlled Trust:

A beneficiary controlled trust is the crown jewel of asset protection.

While I will not go into detail here, a BCT works like this:

Someone other than yourself establishes an irrevocable trust with you as the beneficiary and as the Investment Trustee.  A second entity or person is required as the Distribution Trustee.

My company, Trustee and RA Services, Inc., can act as your Distribution Trustee if you want to keep your affairs private from your friends and relatives.

We are located in Coral Springs, Florida, and we usually situs the BCT in Florida to take advantage of Florida’s excellent trust laws, as well as no state income tax.

The Grantor can put up to $12,000 per year into the trust without gift tax considerations, and you have an immediate right to withdraw the money as it is a Crummey defective grantor trust.

It’s complicated, but the idea is to leave the assets in the trust and use the trust to own the LLC and to take care of your needs.

The trust can purchase property, pay for your education and medical expenses, and take care of your physical well-being. You have full control over the trust assets without actually owning anything.

As the Investment Trustee, you control how the assets are used, and you can replace the Distribution Trustee at any time.

We often refer to this as the CakeTrust, as in “have your cake and eat it too”.

Summary:

You are now isolated from lawsuits, creditors, judgments, ex-spouses, and the IRS.

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Charles Lamm is a retired attorney who owns Trustee and RA Services, Inc., in Coral Springs, Florida.  His asset protection blog can be found at http://www.corp-llc-bct.com.  You can also reach him by email at asset-protection@corp-llc-bct.com.

No More Resolutions

Instead of New Year’s Resolutions, I suggest you consider making a list of critical activities for personal success in 7 areas of your life:

1. mental
2. physical
3. emotional
4. spiritual
5. financial
6. vocational
7. social

Each area should have no more than 1 to 3 critical activities. Any more than that will lead to failure because it will seem overwhelming.

Start with physical and vocational. You need energy and money to burn.

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Charles Lamm is a retired attorney and lifelong scanner. His latest projects can be found at http://www.virtualjoefriday.com and http://www.affiliatemarketingforscanners.com.