Asset Protection With Single-Member LLCs

Agenda / Content Covered

1. Charging Orders and Creditor Remedies
   2:00 - 2:30, Jay D. Adkisson
2. How Clients Put Liability Shield at Risk: Beware the Alter Ego Pitfall!
   2:30 - 3:00, Jay D. Adkisson
3. Real Estate and Estate Planning Tactics
   3:00 - 3:30, Jay D. Adkisson
4. Structuring the Single-Member LLC (SMLLC) for Asset Protection
   3:45 - 4:15, Rustin P. Diehl
   1. The SMLLC Liability Shield: Pros and Cons and Case Law Update
   2. Out-of-State SMLLCs: When are They a Good Idea?
5. Drafting the SMLLC Operating Agreement to Boost Protection
   4:15 - 4:45, Rustin P. Diehl
   1. Organization and Formation Provisions
   2. Recordkeeping, Decision-Making, and Contracts
   3. Distribution and Allocation Provisions
6. SMLLC Tax Planning, Returns, Elections
   4:45 - 5:30, Rustin P. Diehl
   1. Tax Considerations at Formation
   2. Pass-Through Treatment of LLCs
   3. Conversions, Reorganizations, Liquidation
   4. Compensation Strategies for Owner/Employees

Accreditation Details:

Jay D. Adkisson is a partner of the law firm of Adkisson Pitet LLP, with his offices in Newport Beach, California and Henderson, Nevada. He has served as an American Bar Association appointed advisor to the Uniform Law Commission Committee on the Uniform Voidable Transaction Act (formerly, the Uniform Fraudulent Transfers Act). Mr. Adkisson is currently an American Bar Association appointed advisor to the Drafting Committee on the (proposed) Uniform Series of Unincorporated Business Entities. He is a member in good standing of the Oklahoma Bar Association, State Bar of Texas, State Bar of California, State Bar of Nevada, State Bar of Arizona, and the American Bar Association. Mr. Adkisson's practice is also in the areas of creditor-debtor law, including creditor-side collections and debtor-side representation and asset protection planning, and captive insurance planning. He is the former chair of the American Bar Association's Committee on Captive Insurance in the Business Law Section, and currently is a vice-chair of the Committee on Insurance and Financial Products in the Probate, Trust and Estates Section. Mr. Adkisson is the creator of Quatloos.com, which is an internationally famous website that exposes various financial and tax scams. He is the author, along with his law partner Mr. Chris Riser, of Asset Protection: Concepts and Strategies (McGraw-Hill, 2004), which is believed to be the only U.S. asset protection work translated into Chinese and sold in China. He has twice testified as an expert witness to the U.S. Finance Committee regarding abusive tax schemes. Mr. Adkisson is also a regular contributor to Forbes Magazine and its website, and a frequent lecturer on topics related to his areas of practice. He earned his B.A. degree from the University of Oklahoma and his J.D. degree, with honors, from the University of Oklahoma.

Rustin P. Diehl is an attorney with Allegis Law, where he focuses on business succession, asset protection, taxation, and estate planning. He participates in the National Association of Estate Planners, and is a member of the Utah State Bar and the Salt Lake Estate Planning Council. A previous chair of the Utah State Bar's Business Law Section, Mr. Diehl regularly organizes and presents continuing education programs for other attorneys and CPAs. He is also a member of Legislation and Government Relation committees that revise Utah estate, probate, and business laws. Mr Diehl earned his B.A. degree in economics from Utah State University; his Juris Doctor degree from the University of Utah, S.J. Quinney College of Law; and has undergone additional post-doctor training in taxation at Georgetown Law School in Washington, D.C.