Single Member LLCs in Nevada and Asset Protection for Estate Planning

 A recent case in Florida (Olmstead v. FTC, June 2010) has called into question the efficacy of single member LLCs as asset protection devices.  Many commentators have taken the position that the single member LLC is worthless for asset protection as a result of this case.

Scott Gunderson will examine the case in detail and take a look at how a similar case might play out in NV using NV LLC law.

Scott Gunderson

Law Office of Scott Gunderson

18124 Wedge Parkway #542

Reno, NV 89511

Telephone: 775-354-3593

Practice Areas: Certified Estate Planning, Trust and Probate Specialist by The State Bar of California Board of Legal Specialization; Business Planning; Business Succession Planning; Asset Protection Planning

Admitted: 1992, CA; NV 2005

Law School: Emory University School of Law, Atlanta, GA, J.D. 1992

College: University of the State of New York, Albany, NY, B.S. Accounting, 1989

Biography: Private practice focusing solely on estate planning for mid-tier and high net worth clients ($10MM+), including non U.S. citizens. Estate plan design and implementation includes revocable living trusts, irrevocable life insurance trusts, dynasty trusts, generation-skipping trusts, minor trusts, charitable remainder trusts, charitable lead trusts, grantor-retained annuity trusts, family limited partnerships, domestic asset protection trusts and private foundations. Estate plans are highly customized and are designed in collaboration with the client and the client’s other advisers (CPAs, financial, insurance, business counsel) to achieve the client’s estate planning goals. National Network of Estate Planning Attorneys; California State Bar, Estate Planning, Trust and Probate Section; Nevada State Bar.  Admitted to practice before all courts in CA and NV; U.S. Tax Court and U.S. Supreme Court.