APD: Man faces capital murder charge after botched drug deal in south Austin

Family Limited Partnerships in Asset Protection Plans

The Family Limited Partnership can provide a solid layer of defense between your assets and creditors. Once you have established an FLP, creditors pursuing the assets in the business are difficult. Should a creditor be awarded a judgment there is a specific court ruling that must take place in order to endeavor to receive distributions of profit from the partnership. Even if the creditor receives a charging order, that does not guarantee that the creditor will be paid any amount toward the debt, but rather places the creditor in a position of becoming a receiver of income, whether profits are recognized or not. The money is not distributed to the creditor, yet the creditor must pay taxes on the income derived.

Limited Liability Companies (LLC) in Asset Protection Planning

Limited Liability Companies are outstanding asset protection vehicles. As a business entity the company owners’ personal assets are sheltered from the liability of the business. The business assets are also protected from liability from its owners. If the business faces a lawsuit, the LLC defends the owners from the liability related to business transactions. In addition, when owners are sued personally, there are provisions in the law that protects the assets inside of an LLC from being seized to satisfy a judgment. LLC’s are remarkably beneficial when used to preserve real estate.

Fraudulent Tranfer of Assets

A fraudulent transfer of assets occurs when assets are transferred with the intention of ‘hindering delaying or defrauding’ your creditors. If a transfer is determined to be fraudulent a court will unwind it. Asset protection plans that are created and executed years in advance of need will survive any creditor attack. You should not wait for a problem to arise and then consider creating an asset protection plan.

Boxes and Bags, Why We Love and Keep Them

Why do we love to keep all those boxes and bags? It is all about possibly needing them in the future which rarely happens and then we forget about them. You can get rid of them and get your space free of clutter.

Penis Bumps May Be Due to HPV

Few things mar an otherwise handsome penis as much as unsightly penis bumps, such as the warts that can sometimes result from HPV. Prevention of HPV is therefore key.

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