Many U.S. based businesses avoid foreign entities due to lack of familiarity. Foreign structures can be strong tools in the business planning world, and can be excellent complements to an asset protection program. “Asset protection” has become a popular phrase, however its overuse has diluted its definition. Asset protection is…

The “shirtsleeves to shirtsleeves” phenomenon is an age old trend in which the vast majority of family wealth is dissipated by the third generation. This result is usually rooted in lack of preparation. Transferring wealth to others is relatively easy; we have many legal tools. However, transferring the skills to…

Estate planning is experiential -a specific document or technique, such as a will, life insur-ance, or a trust. Some professionals use estate planning as a catchall phrase to sell financial products. Estate planning involves establishing plans to deal with death, disability, and ap-point competent backups. The major goals involve: (1)…

After having accumulated assets, most families envision eventually transitioning family wealth to younger generations and empower them to achieve. However, many are keenly aware of the potential for spouse of their children to pose a serious threat to family wealth. If we transfer assets to our children/grandchildren, to some people…

Adam Chodos is an attorney and formerly a certified public accountant, serving as the managing member of Chodos & Associates in Boca Raton, Florida. He advises successful families, individuals, and businesses on advanced estate planning, taxation, as well as wealth consulting and asset protection. In addition, he functions as special…