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Asset Protection Planning January 15 th , 2005 – US Finance Group LLC Framingham, MA

Asset Protection Planning January 15 th , 2005 – US Finance Group LLC Framingham, MA. Gregory V. Janian Esq. Governo Law Firm 260 Franklin Street Boston, MA. Presentation Overview. Basics of Asset Protection Holding title to the Property Taking advantage of tax regulations – 1031 Exchanges

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Asset Protection Planning January 15 th , 2005 – US Finance Group LLC Framingham, MA

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  1. Asset Protection PlanningJanuary 15th, 2005 – US Finance Group LLCFramingham, MA Gregory V. Janian Esq. Governo Law Firm 260 Franklin Street Boston, MA

  2. Presentation Overview • Basics of Asset Protection • Holding title to the Property • Taking advantage of tax regulations – 1031 Exchanges • Questions and Answers

  3. Basics of Asset Protection • What assets am I protecting? • Separation of assets • Other Principles: • Insurance • Homesteads • Landlord – Tenant Law

  4. Holding Title to Property • Trusts • Corporations • C - Corp vs. S – Corp • LLC’s • Liability and Tax Consequences

  5. Trusts • Extremely Common • Privacy • Popular Misconception: • No Liability Protection • When Recommended

  6. Corporations • C – Corp’s and S – Corp’s • Liability Protection • Tax Implications

  7. LLC’s • History • Full Liability Protection • Tax Benefits • Pass-through Entity • Single Members • Delaware Series LLC’s

  8. 1031 Exchanges • What is it? • Like-kind exchange (qualifying) • What is “Boot?” • How to avoid it? • Qualified intermediaries

  9. Types of Exchanges • Simultaneous Exchange • Delayed Exchange • 45 day clock • 180 day clock • Reverse Exchange • Improvement Exchange

  10. Delayed Exchanges • P&S Signed Normally • Accommodation Language • Exchange Agreement with Intermediary • (Substitute Seller) • 45 Day Rule for Identification • (in writing) • 180 Day Rule • (no extensions)

  11. Reverse Exchanges • Safe-Harbor Guidelines • Used for improvements to property • 5 Day Rule • 45 Day Rule • 180 Day Rule

  12. 1031 Continued • Improvement Exchanges • Disadvantages

  13. Questions?

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