Our firm is unique; we have a proprietary maintenance service to protect our clients on an ongoing basis. Many other legal firms can and will assist a client in setting up an entity, but are not prepared or staffed to assist them in completing the necessary steps that must be completed each year to ensure that their remarks completely serves its intended purpose.
Each year our clients undergo a thorough risk assessment to ensure legal compliance and structural integrity of each asset, entity, and agreement in their Asset Protection System™. As part of our maintenance services, we perform reporting and documentation functions for each of our client’s assets, entities, and agreements as required by state and federal law. Such requirements may include holding an annual meeting and preparing corresponding meeting minutes, ensuring that the entities are in good standing with their state of domicile, as well as making certain that the Asset Protection System™ is up to date from a litigation and audit perspective.
We also review the “structural integrity” of each of our client’s assets, entities, and agreements to confirm appropriate ownership, management, and other aspects.
In summary, on an annual basis, we perform the following functions:
- Ensure each asset has been identified, valued, and is held in the appropriate entity or trust.
Ensure each entity is up to date and in good standing from the following perspectives.
- The state in which it was formed;
- From a litigation perspective; and
- From an audit perspective.
- Identify and document each legal relationship. If previously identified and documented, make sure the documentation is up to date.
- Ensure that insurance coverages are doing what they were intended to do efficiently and effectively in today's market.
- Ensure that succession planning and tax optimization strategies are continually revised and updated based upon the client's risks and objectives.