Author: Eleanor Chandler

Why Commercial Refrigeration Repair Is a Necessary Investment

Eleanor Chandler Uncategorized , , , , ,

Your business focuses on providing high-quality products and customer service. You can’t do that if your refrigeration equipment isn’t functioning properly.

Refrigeration Repair

Commercial refrigerators need regular maintenance to work optimally. It’s crucial to address any issues that may arise, including inconsistent temperatures, ice buildup, and unusual noise. Reach out to Commercial Refrigeration Repair Near Me for expert assistance.

Commercial refrigeration repair services are a necessary investment for businesses that rely on refrigeration. They keep your business operating efficiently, minimize energy costs, and protect food safety standards. In addition, they offer a range of additional benefits that can increase your competitive edge and save you money in the long run.

When choosing a service provider, consider their rates and the specific services they provide. The cost of repairs can vary based on the time of service, complexity of the job, and the scope of the work required.

A skilled technician can perform a thorough inspection of your refrigeration system and identify potential issues before they occur, reducing the likelihood of costly emergency repair bills. They can also offer advice on preventative maintenance that will improve energy efficiency and prolong the lifespan of your equipment.

Walk-in coolers and freezers take a beating on a daily basis, with constant opening and closing of the doors, and heavy use of the door gaskets, cooling unit, and other components. If left unchecked, these items can break down or experience major problems that require expensive repair and replacement parts.

Using a commercial refrigeration repair service with local roots can help you find an experienced and reliable team at an affordable rate. Local services are more invested in the community and may have insight into local climate conditions that can affect refrigeration systems differently than other areas. In addition, they are often more familiar with local refrigeration codes and requirements.

Many refrigeration repair companies offer upgrades and retrofitting services to help you improve the performance of your refrigeration system. This can include replacing old inefficient motors with newer models that will reduce energy costs and environmental impact. It can also include adding features like temperature monitoring to ensure consistent and accurate cooling, which will save you from food loss or compliance violations. These improvements can help you stay competitive by improving your ability to meet industry standards and customer expectations. They may also help you save on your energy bills, which can offset the cost of paying for repair or replacement services.

Peace of Mind

We put our heart and soul into our businesses, so the last thing we want is to see it all go to waste due to an appliance malfunction. Commercial refrigeration repair services can help prevent costly disruptions to operations and prevent loss of perishable goods by addressing issues before they escalate.

Refrigeration units that are not operating properly can leave food items exposed to spoilage and bacteria, resulting in poor quality. In addition, faulty refrigeration units can cause inconsistent temperatures throughout the facility, which can impact food safety and quality. Professional commercial refrigerator maintenance services address these issues to minimize damage and maximize energy efficiency.

Regular maintenance of commercial refrigeration systems can help prolong the lifespan of the equipment. Professionals can also provide advice on best practices to keep the fridge running smoothly. For example, removing decor and other obstructions from around the appliance will ensure that it has adequate airflow to operate properly.

Unexpected malfunctions can be disastrous for a business, causing food to spoil and compromising customer satisfaction. Fortunately, most refrigeration systems show signs that they are beginning to fail before the system shuts down completely. By utilizing a reputable commercial refrigeration repair service with round-the-clock availability, businesses can avoid significant losses and save money in the long run.

Thermus Mechanical offers a comprehensive suite of commercial refrigeration maintenance services that can be tailored to each client’s needs. Whether you are looking for a monthly or quarterly maintenance program, our professional technicians can help you keep your business’s refrigerators at optimal condition. We are committed to helping our clients achieve their goals by providing quality services that are backed by years of experience and specialized knowledge. 

Reduced Risk of Damage

Commercial refrigeration systems are critical for the success of many businesses. From restaurants to grocery stores, they play a huge role in keeping products fresh and at safe temperatures for the safety of customers. However, commercial refrigerators can break down, which leads to spoiled food and lost revenue. With the help of a professional, this can be avoided with regular maintenance and timely repair services.

A commercial refrigerator can be a big investment, which is why it is important to get the most out of it. A professionally serviced unit will have a longer lifespan and operate more efficiently, which can save on replacement costs in the long run. It will also help to keep your energy bills low and reduce the risk of damage to your products.

Refrigerators break down for a variety of reasons, and this can result in spoiled food, unhappy customers, and lost revenue. Having a reputable commercial refrigeration company on hand can prevent these issues, as they will be able to diagnose and fix the problem before it escalates into an emergency breakdown.

Performing regular cleaning and maintenance tasks on your walk-in refrigerators can also help to extend their life. Typically, this involves checking the bottom interior and door gaskets for puddles of water and food particles. It is important to clean these areas regularly so that the equipment can self-regulate properly. It is also a good idea to lubricate the hinges and wipe down shelving to remove any condensation.

Another benefit of hiring a professional refrigeration repair company is that they can perform diagnostic tests to identify any potential problems with your system. For example, a professional will be able to check the temperature of your refrigerator and detect a problem with the compressor. This can be fixed before it leads to an emergency breakdown and expensive repairs.

When choosing a repair company for your commercial refrigeration, look for one that is licensed and insured. This will ensure that they are qualified to handle refrigerants and have a strong understanding of the industry. You should also make sure that they are certified by EPA 608 and NATE, which indicates that they have met industry standards. In addition, reading customer reviews can help you to gauge the level of satisfaction that other businesses have had with a particular repair service.

Increased Productivity

Commercial refrigeration repair services aren’t just about fixing what’s broken; they also help businesses run more efficiently. By proactively monitoring and addressing potential issues, these services can prevent the costly disruptions that often result in lost sales, food spoilage, and health inspection failures. They can even extend the lifespan of equipment by identifying and repairing minor damage before it becomes major.

A professional service will become familiar with a company’s specific equipment and customize its maintenance plan to meet the needs of each piece. This means that they’ll be able to spot small issues, like clogged air filters or loose door gaskets, before they lead to bigger problems, such as an insufficient cooling system or a power outage. This preventive approach ensures that a business’s refrigeration system is always operating at its peak efficiency.

Regular refrigeration repair services include a thorough examination of all parts, including seals and gaskets, electrical connections, motors, compressors, and condenser coils. They will clean and degrease these components to prevent debris buildup, which reduces efficiency. This also reduces energy consumption, which is good for the environment and your electricity bill.

When a refrigerator isn’t functioning correctly, it has to work harder to maintain the desired temperature, which in turn increases its electricity consumption. This is a common problem with poorly-maintained units and is why regular maintenance is so important.

The best commercial refrigeration repair services will also offer a wide range of additional services, from checking and calibrating thermostats to lubricating motors to ensuring that all components are working properly. This helps to increase the life of your equipment, which will reduce the need for expensive replacements. It also helps to prevent food waste and comply with regulations regarding refrigeration standards and energy use.

Why Replacement Windows Are a Smart Investment

Eleanor Chandler Home Improvement , , , , ,

Your windows are getting old and need to be replaced. Maybe they’re stuck shut and you can’t open them for fresh air on a Saturday morning or maybe you see drafts or higher energy bills when the weather turns chilly.

Replacement Windows

Investing in Replacement Windows is a big project and you should research options carefully. Here are some reasons to choose a top-rated window manufacturer and installer. Visit Website to learn more.

Whether you have an older home or you’re looking to make a smart investment in your future home, the right replacement windows can help you save money and enjoy a comfortable living space for years to come. Newer windows are more energy efficient and help to reduce your heating and cooling costs throughout the year. They are also designed to minimize heat transfer, keeping the cold air in during chilly winters and the hot air out during scorching summers.

A window’s energy efficiency is largely determined by its air infiltration rating, which measures how well it blocks air from passing into and out of your home. Older windows tend to have lower air infiltration ratings than their newer counterparts. Replacing old windows with newer, more energy-efficient models can significantly improve your home’s air quality and energy efficiency.

If you choose to purchase Energy Star certified windows, you can expect to see a significant reduction in your energy bills. According to the Environmental Protection Agency, you can save an average of 12 to 13 percent on your energy bills by replacing old windows with Energy Star certified models.

Your energy efficiency will be even more improved if you choose double-hung windows with multi-point locking systems. These are available in a variety of styles and materials, including wood, vinyl, and fiberglass. Some even have a decorative trim that can enhance the look of your home’s exterior.

You can also choose replacement windows that block the sun’s harmful ultraviolet rays. UV rays can cause your furniture, carpet, and other materials to fade over time, especially if they are made of organic fabrics. Upgrading to replacement windows with built-in UV protection can help to reduce fading and extend the life of your valuables.

In addition to boosting your home’s energy efficiency, the right replacement windows will enhance your curb appeal and add resale value. New windows can give your home a fresh, modern appearance from the outside while adding a bright, clean look to your interior.

Before your contractor begins installing your replacement windows, they will need to take accurate measurements of the window opening. They will measure at three different points in the frame to ensure that the new windows fit correctly. In addition, your contractor will need to remove any blinds or curtains that are installed in the window frame and thoroughly clean the area around the existing windows.

Increased Home Value

When it comes to home improvements, there are a lot of things that you can do to add value to your property. However, one of the best ways to increase your home’s value is by investing in new replacement windows. The increased home value and energy efficiency that you will receive from this investment will make it well worth the money spent.

Replacing your old windows with new high-quality units will not only improve the look of your house, but it can also significantly increase its resale value. In fact, a recent survey by Top Agent revealed that window replacement is a top project that can boost your property’s value.

Homebuyers will be drawn to your home if it has attractive looking windows and doors. Outdated or rotting frames and sash can turn off buyers, so installing new ones will give your home a huge boost in curb appeal. You can even choose from a variety of styles and finishes to create a unique look that will stand out from the competition.

As a result, you can expect to recoup 70-72% of your investment at the time of resale. This makes replacement windows one of the most cost-effective projects for increasing your home’s resale value.

In addition to improving the appearance of your house, new windows will also help you reduce your energy costs and protect the environment. By choosing energy efficient options, you can reduce your energy bills by as much as 12% every year. This will make your home more comfortable and affordable to live in, and it will also attract eco-conscious homebuyers.

As a result, homeowners and potential homebuyers are prioritizing energy efficiency when buying homes. They are actively seeking out houses, upgrades and remodeling trends that will improve insulation, lower electricity bills and reduce their dependence on the grid. This is why energy-efficient windows are becoming so popular. You can use the ENERGY STAR symbol to show that your new windows are energy efficient, and it will be a major selling point when you put your house on the market.

Increased Home Comfort

If your old windows let in too much heat or cold, or if you feel like you’re constantly running the air conditioning, replacing them with energy-efficient replacement windows might be what you need. The new windows will help regulate your home’s temperature while letting in natural light, making it more comfortable throughout the year.

In addition to replacing the glass and window sash, new replacement windows can be installed with upgraded handles and locks, between-the-glass blinds or shades, or even a screen for keeping out insects. Replacement windows are also available in a wide range of shapes, sizes and styles so you can find the perfect fit for your home.

A: If you opt for a full frame installation, your existing window opening and trim will be removed and replaced with the new replacement windows. This type of replacement is typically chosen when the current window has significant damage or when you want to change the style or size of the window.

Another option is a retrofit installation, which uses the existing window frame and casing for support and insulation. This method of installation is ideal when your exterior trim and siding are in good shape but you’re looking for a more efficient window.

Insert window replacement is a good choice for older homes that still have structurally sound frames and you want to preserve the exterior casing, trim and paint. This type of replacement uses the existing frame as a foundation for the new window, removing only the old sash, operating hardware and covers.

Some replacement windows are built to resemble the look of new construction, and these can be an excellent choice when you’re trying to match the style of your house or condominium building. They’re designed to be inserted into the existing window opening without requiring the removal of any materials from the outside of your home, and they’re usually less expensive than new construction windows. They’re also available in a variety of frame materials, including wood and durable composites that are resistant to corrosion. The best replacement windows are the ones that suit your needs, style preferences and budget, so do your homework before choosing a brand.

Increased Home Security

We all want to feel safe and secure in our homes, but that’s not always easy when your windows let in drafts, don’t lock, or have single-pane glass. Luckily, replacement windows help keep homeowners and their families safe. In fact, new windows can make a home much more difficult to break into than it was before. This alone makes them a great upgrade for anyone looking to improve their home’s security.

Many homeowners have motion sensors installed on their home’s exterior to alert them when someone moves nearby. Others have smart doorbells that allow them to see and talk to visitors before they answer the door. These are all good ways to beef up your home’s security, but many people don’t think to consider their windows as a potential threat. That is why it’s important to choose a reputable window installation company that offers replacement windows with high-quality security features.

Unlike old, untreated windows, most modern replacement windows have laminated or tempered glass that’s much more difficult to break. This extra layer of reinforcement holds shattered glass fragments together and makes it harder for attackers to gain entry through your windows or doors. This type of glass is also safer for your family because it does not splinter into dangerous sharp shards.

Additionally, most replacement windows have reinforced frames and tamper-resistant locks. These security features ensure that your home is more resistant to break-ins and other unwanted intruders.

Another way that modern replacement windows keep you and your family safe is by incorporating energy efficiency and privacy benefits into their design. For example, Low-E glass helps to block out harmful UV rays and reduce heat transfer inside the home. This keeps rooms comfortable year-round and minimizes the workload of your HVAC system.

When choosing a replacement window, be sure to choose the frame material and operational style that best complements your home’s style and architecture. You should also consider the number of panes in your window and any added features that will boost your home’s security. These three features will help you find the perfect replacement windows to keep your home safe and secure.

Distracted Driving Tops List of Car Accident Causes, Study Finds

Eleanor Chandler Lawyer , , , , , , ,

Being involved in Duluth Car Accident can be a frightening experience. Not only do you have to worry about potential injuries, but also medical bills and lost wages.

One of the leading causes of car accidents is driver error. From texting while driving to switching lanes too quickly, these types of actions can lead to deadly car accidents.

1. Driver Error

Car Accident

Car accidents are a part of life and can range from minor fender-benders to fatal collisions. While safety features on vehicles have improved over the years, human error is still a significant contributing factor in car accidents.

Driver errors are broken down into two types: decision errors and performance errors. Decision errors are mistakes made when a driver recognizes a dangerous situation but chooses the wrong action or inaction. Examples of this include running a red light, driving too fast for the current road conditions or ignoring a warning sign.

Performance errors are the physical mistakes a driver makes while behind the wheel. These can include everything from falling asleep at the wheel to failing to properly maneuver a turn or curve on the road. Some common mistakes that lead to car accidents include:

Internal and external distractions are the leading cause of distracted driving crashes. This can include things like talking on the phone, texting, daydreaming, and singing along to music while driving. Other factors that lead to driver error include not wearing seat belts, eating or drinking while driving, and adjusting controls on the vehicle without proper safety precautions.

Aggressive and reckless driving can also be dangerous for drivers and others on the road. These behaviors include speeding, changing lanes too quickly, failing to use rear turning signals, tailgating and more.

Weather conditions can also play a role in car accidents. Rainy or snowy weather can make the roads slick and difficult to drive on. Drivers should always pay attention to the road and slow down if they are in bad weather. If a driver fails to take these steps and causes a crash, they may be responsible for paying for the damages of those injured in the accident.

2. Poor Road Conditions

Even the most careful drivers can be involved in a car accident when road conditions are unsafe. Unsafe road conditions can include anything from potholes and major cracks to lack of lighting or inadequate signage. When these issues cause an accident, victims may be eligible for compensation.

Government agencies that oversee road maintenance and design may be liable for accidents caused by poor conditions on roadways under their control. Cities and states must ensure that roads are maintained properly, which includes keeping up with repairs and maintaining appropriate levels of lighting and signage. If a roadway defect causes a crash, the government agency in charge of that road must take steps to repair the problem. This includes ensuring that signs are clearly visible and that warnings about construction zones or other hazards are placed appropriately.

Other potential road defects that can lead to car accidents include improper guardrails, narrow lanes and confusing intersections. These factors increase the risk of collisions, especially at night or during bad weather.

In addition to causing serious injuries, car accidents caused by poor road conditions can be very expensive to resolve. Victims can face hospital bills, lost wages, medical treatment and ongoing rehabilitation expenses that can strain any family’s finances.

In cases involving dangerous road conditions, it can be difficult to determine who is responsible for the accident. If a private road was in question, then finding the person or company that owns the roadway could be straightforward. However, most roads are under the responsibility of a city, county or state government entity. In these instances, proving negligence can be more challenging as the law protects government entities from personal injury claims when they are acting in their official capacity.

3. Faulty Vehicles

Even though modern cars have become a lot safer, they are still mechanical in nature and can breakdown if not properly cared for. When a vehicle malfunctions, it can cause an accident that leads to serious injuries. This can happen if a key safety component, such as the brakes or airbag, is defective or fails to operate as designed.

These car accidents are known as defect-related crashes and can be extremely dangerous for those involved. If you are injured in a crash that you suspect may be the result of a faulty car part, you should speak to an attorney immediately. You could file a claim against the manufacturer or other parties that could be held responsible, including the dealership that sold you the car and/or the mechanic who worked on it.

A rear-end collision is a common type of car accident that occurs when a driver slams on their brakes to avoid hitting the vehicle in front of them, but loses control and slams into the back of the vehicle in front of them. These crashes typically occur at high traffic volume times, such as rush hour or when a driver is following too closely.

Head-on collisions are one of the most serious types of car accidents and often result in severe injuries and fatalities. They usually occur when two vehicles driving in opposite directions collide with each other, and are most likely to be caused by intoxicated or distracted driving, fatigued driving, road conditions and reckless driving.

When a vehicle accident involves a head-on collision, it can be very difficult to determine who is at fault. This is because both vehicles have a very strong impact on each other and it can be challenging to tell which vehicle came into contact with the head-on collision first. This is why it is important to seek the help of an experienced accident lawyer as soon as possible.

4. Vehicle Defects

A vehicle can be faulty in several ways and, even if the driver is doing everything right, they may lose control of their car and crash as a result of a mechanical failure. Whether it is from poor maintenance or a design defect, any of these issues could lead to serious injuries or death.

While automobile safety has improved significantly over the last few decades, there is still a substantial number of car accidents due to defective vehicles and parts. Sadly, car manufacturers often rush production and cut corners to meet deadlines, which can end up costing the lives of consumers. This is evident by the number of recalls that have occurred in recent years.

These defects can be anything from faulty airbags that deploy too early or with too much force to faulty tires that can cause you to lose control of your car. They can also include ignition and fuel system defects that can result in a fire that causes burn injuries after a crash.

Luckily, you can help prevent mechanical failures by regularly performing maintenance on your car and getting it in for regular inspections. However, if you suffer an accident from a manufacturing defect or any other type of car problem, it is important to have documentation from a New York mechanic that proves the cause of your accident.

When a vehicle has a defect, the manufacturer or the company that installed the part may be liable for your damages. Our team of lawyers at Buttafuoco & Associates has the experience and resources to take on large auto manufacturers and their insurers to get you the compensation you deserve for your injuries.

5. Other Factors

Car accidents are often caused by external factors that are not related to driver error, such as bad weather or road conditions. These external factors can cause a driver to lose control of their vehicle or fail to see a hazard in time to avoid it.

These factors can include a variety of things, such as the physical condition of the roadway, weather conditions and even the mechanical performance of a car’s brakes and tires. It is not possible to account for every possibility that could have contributed to an accident, but having a general understanding of the most common causes can help if you are involved in a crash or considering making a car accident injury claim.

Distracted driving is a leading cause of accidents. Whether it’s sending a text, talking on the phone or eating a snack, distraction causes your brain to switch between tasks, making you less able to consistently focus on the road ahead of you.

Speeding is another common cause of car accidents. Whether they are running late for work, trying to keep up with traffic or simply enjoying the feeling of being behind the wheel, many drivers forget how dangerous it is to drive above the speed limit.

Other forms of reckless driving, including tailgating and switching lanes without a signal, also contribute to a large number of accidents. Then there is the dangerous combination of alcohol and drugs, both legal and illegal. Having even one drink can impair your ability to react quickly enough if the driver in front of you suddenly brakes. This can lead to a deadly rear-end collision. It is never okay to drink and drive.

Asset Protection Planning

Eleanor Chandler Lawyer , , , , ,

Many people do not consider the need for an asset protection plan until they are threatened by a lawsuit. Unfortunately, this is too late for effective legal fences to be erected around assets. Those who should consider asset protection include anyone who could potentially be sued for professional malpractice, such as doctors and lawyers, or those looking to minimize extra capital gain taxes on property. An experienced Asset Protection Lawyer at https://jdblawfirm.com/ can design a strategy that makes sense for your unique circumstances.

Trusts

Asset Protection Planning

The premise of asset protection is that a person can legally separate his or her ownership of property from actual possession. This may help prevent assets from being seized by creditors or lost through lawsuits, divorce settlements and other events. Various legal vehicles can be used for this purpose, including trusts. An experienced estate planning lawyer can help a client decide which trust to use and determine the best timing for the transfer of assets into the trust.

An irrevocable trust is an essential tool for protecting assets from future lawsuits or judgments by creditors. A trustee manages the trust’s assets on behalf of beneficiaries, who typically do not have direct access to the assets. The trustee can also set up a spendthrift clause to prevent the beneficiary from selling or giving away trust assets without specific stipulations. In addition to providing a level of security against creditors and lawsuits, an irrevocable trust can protect the beneficiary from taxes imposed by the state or country in which the trust is located.

Another type of trust is the domestic asset protection trust (APT). A domestic APT is a tax-efficient vehicle to shelter assets from creditor claims and lawsuits. A domestic APT can be established with a single beneficiary or multiple beneficiaries. The trustee is appointed by the grantor, and can be a family member or a professional. The trustee can control and manage the trust’s assets, as well as make distributions to the beneficiaries.

However, a domestic APT should be considered carefully before making the decision to establish one. It must be made clear to creditors that the APT is intended to shield assets from creditor claims and lawsuits. If the creditor or plaintiff can prove that the APT was created in order to avoid paying a debt or obligation, a court may invalidate the APT.

A legal vehicle that offers the most protection from creditors and lawsuits is a foreign asset protection trust (FAPT). A FAPT is a complex structure to establish, but it can provide significant benefits for a wealthy individual. A FAPT can protect assets from a spouse’s claim in the event of a divorce, and it can reduce or eliminate federal estate taxes. A FAPT can also be used to secure Medicaid benefits, although a person must meet certain eligibility requirements.

Limited Liability Companies (LLCs)

The use of a limited liability company is one of the most common and effective strategies for protecting assets against claims by creditors or judgment holders. These business entities are created by state law and, in most cases, provide a strong barrier between a creditor and the personal assets of the owners.

In many cases, the formation of an LLC can help to minimize federal income tax expenses as well, which can significantly reduce the amount of taxes a business pays. These benefits make the LLC a popular choice among entrepreneurs who want to incorporate their start-ups.

However, the protection offered by an LLC is not entirely foolproof, especially when it comes to non-business claims such as malpractice lawsuits or negligence claims for accidents. For this reason, some business professionals and property owners choose to combine an LLC with an asset protection trust to offer additional security against such claims.

The main benefit of using an LLC for asset protection purposes is that the entity’s statutes generally prevent creditors from seizing the company’s assets. Instead, a creditor can be granted what is known as a charging order. With a charging order in place, a creditor can only obtain the debtor-member’s distributional interest in the LLC, but not the ownership or control rights.

Another advantage of an LLC is that the entity is able to be managed by its members, who can include non-owners or professional managers. This can allow for a great deal of flexibility when it comes to day-to-day operations and can be a great asset protection strategy as long as the operating agreement is properly written.

The operating agreement should also specify that the LLC is a separate legal entity from its owners, which will further protect the personal assets of the members. It should also state that the owners will not be liable for the corporation’s debts, breaches of contract or damages to third parties caused by the corporation or its employees. In addition to an operating agreement, an LLC can be strengthened with the use of a partnership trust and offshore locations that offer superior protection to what is available in the United States.

Family Limited Partnerships (FLPs)

A family limited partnership is a very useful tool for asset protection planning. It functions much like a limited liability company (LLC). The difference is that FLPs are primarily used by families and can include non-family members as partners. They also offer a more flexible management structure.

FLPs allow family members to centralize all their assets in one entity and can help prevent the loss of personal assets in a lawsuit or bankruptcy. The family can also decide how income and distributions are allocated among partners. This is especially important for people with a significant number of assets, such as real estate income properties, intellectual property and business interests. It’s essential to segregate high-risk assets from low-risk ones to minimize risk.

Creditors are unable to touch assets in an FLP. In addition, a well-drafted partnership agreement can limit the rights of creditors to a charging order, which is an attachment against the general partner’s share of the profits and income generated by the entity. This is not a full shield, but it can be enough to force the creditor into settlement negotiations with the partners and reduce the value of their claims.

Depending on the state, an FLP can also provide tax advantages. Many states consider FLPs to be pass-through entities and therefore are exempt from federal income tax. This can save on taxes for many families with substantial assets.

Finally, FLPs can be used to transfer ownership to heirs in a tax-efficient manner. Parents can transfer ownership of their FLP interest systematically over time, utilizing gift exemptions and valuation discounts. This can be particularly beneficial for affluent families who want to transfer their wealth to younger generations.

We often use FLPs in conjunction with other sophisticated techniques to achieve comprehensive asset protection. For example, we may recommend separating business assets from personal ones in an FLP and placing those assets inside of a Living Trust. In this way, a judgment creditor can only go after the business assets in the FLP, while keeping his hands off your personal home, bank accounts and other personal items.

Corporations

In many cases, a business owner will use some of their own personal assets to start up and run a successful enterprise. This might include cash, property and credit. As a result, their personal assets may be at risk from the business’s creditors or legal liabilities. Forming a corporation or other legal entity can help to safeguard the business’s assets and separate the owners’ personal assets from those of the company. The most useful type of structure for this purpose is a limited liability company (LLC), but there are other options as well. A consultation with an asset protection and estate-planning professional will help to determine the best business structure for a specific situation.

While some people attempt to protect their assets by hiding or concealing their ownership of property, this is illegal and can be considered fraudulent under the Uniform Fraudulent Transfer Act of 1984. Effective asset protection planning involves the legal restructure of assets to reduce exposure to potential liability in conjunction with estate and tax planning goals. This process should be started before a claim or liability occurs because it is often too late to implement any meaningful asset protection strategies once a lawsuit is filed.

The types of assets that are at risk from creditors and civil judgments vary according to the individual’s circumstances. The most common assets at risk from lawsuits are cash, real property and investments. Those in professions that carry some level of liability, such as doctors and lawyers, might need more substantial asset protection strategies than those who are less at risk.

A qualified estate planner can help to reposition assets so that they are out of reach from creditors and civil judgments. However, this is not a quick or temporary fix. It must be done well before a claim is made against you or you anticipate that a claim will be made. Waiting until a lawsuit is filed exposes any asset protection strategy to attacks and reversal by a court, and it’s too late to employ any significant strategies once a claim or threat arises.