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Commingling Funds and Corporate Formalities

Commingling is a Term Most Often Applied to Funds or Assets When a fiduciary, a person entrusted with the management of funds other than his or her own in trust, mixes trust money with that of others, the fiduciary is commingling funds. When the fiduciary of a trust

Membership Interests – How Should You Hold Them?

What is the best way to hold membership interests? This question often arises when people are forming a new business. It doesn’t matter whether it is a corporation, LLC, or limited partnership, the membership interests should be held in a living trust. How you hold the interests

Do I Need a Will?

Do I need a will? This question has only one quick response. Yes. The truth is that there is no age or wealth requirement on those who need a will. Everyone needs a will and the sooner the better. Life is full of unexpected consequences and preparation

Tax Tips — Some Work, Some Don’t

One of the tax tips being sold to folks with IRAs, sometimes for exorbitant amounts of money, is going to cause them to lose their entire IRA. Basically, the hot shot financial planners/tax consultants restructure a person’s business or professional practice into an S corporation or LLC

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We wish everyone in America had the means to obtain the knowledge that Attorney Lee Phillips is attempting to impart in the Accumulation and Preservation of Wealth course. We are thankful that there is a legal system that is designed to protect people’s assets, no matter how little or how much.
~ Ed, Dallas Texas