LLC Archives - IACONE LAW

Response to RFE on Ownership and Control of U.S. Entity

For purposes of L-1 Classification, the foreign entity must present evidence of ownership and control of the U.S. Entity in order to prove that a qualifying relationship exists. My client’s business immigration attorney received a lengthy Request for Evidence, and…

Ronald C. Iacone Jr., Esq. In Asset Protection

There is no such thing as a Limited Liability Corporation

There is no such thing as a Limited Liability Corporation. Sure, corporations to an extent enjoy limited liability, but that does not make them limited liability corporations — corporations are just corporations. The LLC designation actually stands for limited liability company,…

Ronald C. Iacone Jr., Esq. In Asset Protection

Response to Attorney Question: Multiple LLCs

An attorney question came across my desk the other day and I thought I would share my response with the collective. She queried whether multiple LLCs or a single LLC was most appropriate to hold her client's rental properties, and…

Ronald C. Iacone Jr., Esq. In Asset Protection

LLCs as Creatures of Contract: Don’t Overestimate this Legal Fiction

I recently sat down with a nonprofit to discuss the asset protection tenets of LLCs, among other things, and was particularly intrigued by where our conversation headed. It was a smart group, to boot, so I took them on a ride all the way…

Ronald C. Iacone Jr., Esq. In Asset Protection

The LLC Is No Magic Carpet | Personal Liability

I'm consulted quite frequently on the efficacy of using an LLC to protect oneself from personal liability. I find that most people, including prospective clients and their advisors, believe the LLC to be the magic carpet that will carry them far, far…

Ronald C. Iacone Jr., Esq. In Asset Protection

Arizona Charging Order Subject to Garnishment Limit

The plaintiff successfully sued the defendant in Arizona. The judgment required the defendant to pay restitution to the plaintiff by way of $300 minimum monthly payments. This amount later increased to $750 and lo the defendant could no longer afford…

Ronald C. Iacone Jr., Esq. In Asset Protection

Split Your LLC Interest Into Two Parts

LLC ownership is evidenced by an LLC interest. The nature of this interest is determined by contract -- the LLC operating agreement -- or by statute. Uncommon to most, your ownership in the LLC is actually split up into two parts:…

Ronald C. Iacone Jr., Esq. In Asset Protection

Writing A Beautiful Business Purpose

German philosopher Gotthold Ephraim Lessing once said that "for me the greatest beauty always lies in the greatest clarity." It follows, then, that drafting a beautiful and adequate business purpose for your company requires a certain degree of clarity. Regrettably,…

Ronald C. Iacone Jr., Esq. In Asset Protection

Consider An LLC With A Board of Directors

It certainly isn't commonplace to think of the limited liability company (hereinafter "LLC") as having a board of directors. In fact, it may be that most individuals, upon hearing the words "board of directors," immediately assume the topic of conversation revolves…

LLC

Response to RFE on Ownership and Control of U.S. Entity

There is no such thing as a Limited Liability Corporation

Response to Attorney Question: Multiple LLCs

LLCs as Creatures of Contract: Don’t Overestimate this Legal Fiction

The LLC Is No Magic Carpet | Personal Liability

Arizona Charging Order Subject to Garnishment Limit

Split Your LLC Interest Into Two Parts

Writing A Beautiful Business Purpose

Consider An LLC With A Board of Directors

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