What’s “Limited” in a Limited Liability Company and Other LLC Questions Answered

moneyMaybe it’s the business protection version of “How much does a pound of feathers weigh?” The clients asked, “If a limited liability company is a great way to protect assets, then why is it limited?”

Great question. Read more

Update on the Billionaire Who Adopted His Girlfriend

An update from our original post.

Remember John Goodman, the Florida billionaire who adopted his 42-year-old girlfriend to shield his assets?  He anticipated that the parents of the boy he killed were going to sue him.  Well . . .

The parents settled with him for $33 million.  And his girlfriend is still his adopted child.  Go figure how this one will untangle. Presumably they’re still dating. Read more