Maybe 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
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