...Contributions Solidifying Your Client's Asset Protection Strategy: Multiple Entities in Multiple Jurisdictions by Richard Kahler, CFP®, CCIM, and Richard K. Colman, J.D. Executive Summary * It is important for financial planners to understand the basics of asset protection. Asset protection is a shield against unscrupulous lawsuits—not a way to hide from legitimate obligations. * The history of asset protection through the legal system, including trusts, corporations, and insurance, goes back to ancient times. * Recent U.S. and state statutes have significantly expanded options for asset protection. * The three rules of asset protection are (1) do not own significant assets in your own name, (2) use multiple entities to own your assets, and (3) keep assets and the entities that hold your assets in different or in multiple jurisdictions. * The first line of defense, which is limited, includes statutory protection and insurance. * The second line of defense is owning separate assets through multiple entities, including trusts, corporations, partnerships, limited liability corporations and partnerships, foreign grantor trusts, and domestic asset protection trusts. * The third line of defense is locating those entities in multiple jurisdictions. * A hypothetical client situation is used to illustrate specific methods of applying this knowledge. * In the future, informed planners will be those who understand their professional responsibility to help...
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...contract, and the assurance that employees are abiding by company and federal guidelines. However, the focus of this paper is exploring the legal authority and licensing requirements for the private security in the state of Virginia. Overview of the Department of Criminal Justice Services for the State of Virginia The commonwealth of Virginia created the department of criminal justice services for the purpose of providing guidelines for the private sector in regards to state mandates based on the type of security whether it be unarmed, armed, executive protection, K-9 units, and many more security assets not listed. The department of criminal justice services also provides a guideline for law enforcement in identifying what the private sector can legally act upon as well as how they can be utilized for assisting law enforcement officers as a whole. Training and Standards “The purpose of Department of Criminal Justice Services (DCJS) policies is to ensure compliance with all statutes and Administrative Codes, Committee on Training (COT) approved performance outcomes and requirements pertaining to; administration, personnel and instruction of standards to be met by Certified Training Academies and Criminal Justice entities served by the department”. (Virginia Department of Criminal Justice Services,...
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... Candice Ward July 02, 2012 First Energy: Business Research Applications First Energy is a multi-state corporation with more than 17000 employees and supplies electricity to customers in six states including Ohio, Virginia, New Jersey, Pennsylvania, West Virginia, and Maryland (First Energy Corp, 2011). With this many customers comes a large responsibility to maintain competitive costs and services. Supplying electricity, including customer and business revenue, is a costly venture. To stay viable and competitive, extensive research into alternative forms of energy is essential. First Energy spends much time and expense into this research and explains itself further in the following paragraphs. First energy commits itself to abiding by the rules, regulations, laws, and environmental policies in effect (First Energy, 2010). As pollution laws become stricter and fines increase for higher than allowed pollution levels, First energy must find efficient and cheaper ways to supply electrical energy. For First Energy to move forward with technology, keep customer and business rates low, and comply with state and federal regulations, First Energy spends generous amounts of time and assets into research. A major portion of these assets and time First Energy uses, is research into improving and enhancing existing equipment. To accomplish this, First energy partners with various organizations to test prototype equipment and processes. These partners include The University...
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...Business Research Applications First Energy is a multi-state corporation with more than 17000 employees and supplies electricity to customers in six states including Ohio, Virginia, New Jersey, Pennsylvania, West Virginia, and Maryland (First Energy Corp, 2011). With this many customers comes a large responsibility to maintain competitive costs and services. Supplying electricity, including customer and business revenue, is a costly venture. To stay viable and competitive, extensive research into alternative forms of energy is essential. First Energy spends much of their time and expenses into this research and it explains itself further in the following paragraphs. First energy commits itself to abiding by the rules, regulations, laws, and environmental policies in effect (First Energy, 2010). As pollution laws become stricter and fines increase for higher than allowed pollution levels, First energy must find efficient and cheaper ways to supply electrical energy. For First Energy to move forward with technology, keep customer and business rates low, and comply with state and federal regulations, First Energy spends generous amounts of time and assets into research. That is what keeps that business in the progress it is in. A major portion of these assets and time First Energy uses is research into improving and enhancing existing equipment. To accomplish this, First energy partners with various organizations to test prototype equipment and processes. These partners...
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...education program is a crucial part of a fraud prevention program (Coenen, 2011). Fraud education should focus on fraud awareness and should be presented to all employees. Investigating fraud is important to a comprehensive fraud prevention program. Although investigations are time consuming and costly the benefits are worth it. Investigations can have deterrent effects on potential thieves. Investigations send a company-wide message that management is aware and looking for fraud. Proactive fraud prevention techniques are the biggest asset in the company’s fraud prevention plan. Proactive fraud prevention techniques should include policies and procedures that aim to detect and prevent fraud. One example is establishing an ethics policy. Ethic policies outline the company’s expectations of employee behaviors. This should include employee conduct at work, policies that relate to conflict of interest, confidentiality, and personal use of company assets. Fraud prevention...
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...SUMMARY EXECUTIVE SUMMARY The Maryland Public Safety Education and Training Center is located in Sykesville, Maryland. The physical plant is generally divided into two areas on grounds totaling approx. 700 acres. The firearms Training Facility (FTF) and the Drivers Training Facility (DTF) are co-located approx. 2 miles from the Academic Center. These training areas are un-fenced, and goes through public roadway and to several residential communities; closest houses being approx. . . .25 miles. The FTF facility has staff offices, classrooms, armory, weapon cleaning area and outdoor ranges which is approx. 25 miles from the FTF. The Academic and administrative Complex (AAC) is located on the ground of the Maryland Springfield State (Mental) hospital, and hosts approx. 400 patients. AAC has offices and classrooms, computer labs, a food preparation area and dining hall, and shops. Two residential dorms for overnight guests/students, a physical training center and it include offices, classrooms, basketball gym, weight room, and swimming pool. PSETC has 122 staff members, including DTF, FTF, and there is currently no security for PSETC. The hours of operation are 7:30 am to 5:00 pm, Monday through Friday for all facilities and it has about 450 students daily in law enforcement and correctional training programs. 150 guests/students can stay overnight; there is a contractor who prepares food, for them. The record maintenance for all administrative reports for PSETC members...
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...meanings and definitions. Terrorism is a very powerful word, which creates fear in all the entire population of the world. According to FBI, terrorism is involving violent acts or acts which are dangerous to human life that violates federal or state law (FBI, 2015). Usually, there are many different causes that make people choose terrorism. Some of the causes include ideologies, political issues, religious issues and socio-economic issues (Zalman, 2015). Terrorist activists in general think that they are fighting for a cause, but they don’t know that the way they chose to fight is affecting innocent civilians in a negative way. In the past also there have been many terrorist attacks on U.S., either directly in U.S. or outside the U.S. on USA assets, troops etc. The attacks include World Trade Center bombing, Murray Federal Building bombing, USS Cole bombing in Yemen, Khobar Towers bombing on U.S. force in Saudi Arabia, 9/11 attacks on World Trade Center towers and Pentagon (Bullock, Haddow, Coppola, 2013). Khobar Towers Bombing: Khobar Towers bombing was a very planned and coordinated attack on U.S. air force troops in Dhahran, Saudi Arabia. It was known as the 2nd biggest attack in the U.S. history killing 19 military members and around 372 Americans left injured (U.S. District Court, 1996). A tanker truck is converted into a truck bomb known as Vehicle Borne Improvised Explosion Device (VBIED). They used around 3000-5000 pounds of explosives to detonate the truck bomb. The explosion...
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...Employment-At-Will Doctrine Student Name: Muhamed F Aref Professor Name: Agustine Weekley Course Name: Law and Ethics in the Business Environment Date: 11/09/2014 The doctrine of employment at will emerged as the predominant rule in wrongful discharge cases in America during the latter part of the 19th century. This doctrine states that the business should have the freedom to discharge or retain employees at will for good cause, for no cause, or even for bad cause, without thereby being guilty of an unlawful act. It is a right which an employee may exercise in the same way, to the same extent, for the same cause or want of cause as the employer. In essence, the doctrine recognizes that the wage owner of his labor services, and the business the full owner of his capital. Each is free to exchange on whatever terms they see fit. Thus, the doctrine of employment at-Will is well established in the American legal system. I recent years, however, this doctrine has been eroding. Many employers now find that the legal environment relative to the right to fire is confusing and ripe with potential liability. In essence, employment at will a term that is music in the ears of most employers is under attack. During the early 19th century, the United States adopted the English rule as part of their common law. By the late 1800’s, however, most jurisdictions had abandoned this principle. Reasoning was that restrictions on terminating employment were inconsistent with the laissez-faire...
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...a stage in their life where they are interested in diversifying each of their portfolios to include investments in real estate assets. Both John and Judy want to purchase a property that is large enough to attract a professional real estate management company, and attain a minimum leveraged return of 10% after tax. In addition, both parties feel that real estate will give them the benefits of diversification, protection from inflation, and some tax advantages. Cartwright has four properties he believes to be perfect for his client, however, he needs to narrow them down to just one property to each client. John DeRight is currently in retirement and he has all of this wealth in securities; primarily in common stock of a company that bought his start up company and has $750,000 in dividends paid on the stock as well as another $250,000 to invest in a property. Judy is a much younger investor and she is the sole stockholder of a small-sized chemical company. Judy has accumulated over $45 million to invest in and being at the peak of her career, she would like to invest in long-term possibilities. Although she has received numerous offers, Judy does not wish to be bought out by anyone and thus desires to diversify the investments she already owns. John and Just both felt that real estate would give them the benefits of diversification, protection from inflation, and some tax advantages. One of the four properties...
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...large appliances. The company opened its first store in 1949 and pioneered the electronics superstore format in the 1970s. By the end of 2008, Circuit City was the second largest U.S. electronics retailer, behind Best Buy. There were 567 Circuit City Superstores nationwide, ranging in size from 15,000 to 45,000 square feet. On November 4, 2008, Circuit City announced that it would close 155 stores and lay off 17% of its workforce by the end of the year as a result of continuing difficulties in remaining profitable. On November 7, 2008, Circuit City laid off between 500 and 800 corporate employees from its Richmond, Virginia headquarters. The approximately 1,000 remaining corporate employees were consolidated into one building in an effort to further reduce costs and improve profitability. On November 10, 2008, Circuit City filed for bankruptcy protection under Chapter 11 of the United States Bankruptcy Code. At that time, Circuit City's stock prices traded well below $1 per share (10 cents to be exact), and were removed from listing on the New York Stock Exchange. Starting January 16, 2009, Circuit City began liquidating its remaining stores, and all were closed by March 8, 2009. The former headquarters of Circuit City Stores, Inc., along with the 58 acres of land was sold in September 2010, for US $5.8 million to DRCC Properties, LLC. The "Circuit City" brand is now owned by Systemax, which uses the brand to sell electronics as an online retailer, CircuitCity.com. Systemax...
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...Web site content design; and Aircraft Solutions, a well-known manufacturer in the design and fabrication of component products and services for companies in the electronics, commercial, defense, and aerospace industry. The assignment includes identifying the organization’s weaknesses by selecting one of their assets and addressing two of the following three areas: software, hardware and policy. A general description of the company’s overview and business processes is provided, along with a list of digital assets mapped into their respective network diagrams. Phase two follows with recommended solutions to the weaknesses, and its impact to the security controls of the business. Security Assessment and Solutions for Quality Web Design Course Project Final Protecting our valuables, whether they are expressed as information or in some other way, ranges from quite unsophisticated to very sophisticated. We can think of the Wild West days as an example of the “unsophisticated” end of the security spectrum. And even today, when we have more sophisticated means of protection than ever before, we still see a wide range in how people and businesses actually use the protections available to them. (Pfleeger and Pfleeger, 2006) When users think of modern technology in the digital age they immediately think of the internet, and the conveniences of accessing information and methods of communication that are available at the touch of a few buttons on a keyboard. Users think nothing of the...
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...AMAZON Team Digby Amazon Case Analysis Team Digby Team Digby very well done! Your covered all the salient issues, and support your positions very Overall, well. Heath Ashford Marshall University MGT 699 Dr. Sollosy 10/12/2014 David Caldwell Guodong Huang Josh Keck Yuyun Zhou 1 Amazon Case Analysis Contents Executive Summary .....................................................................................................................2 Introduction ................................................................................................................................2 Key Issues....................................................................................................................................2 Analysis .......................................................................................................................................3 Available Alternatives..................................................................................................................8 Recommendations ......................................................................................................................9 2 Amazon Case Analysis Executive Summary The purpose of this case analysis is to examine the way Amazon does business and determine areas where the company can improve and respond to emerging challenges. Amazon operates in the online shopping industry, an industry that is characterized by growing consumer acceptability, rapidly...
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...IA#1 Cybercrime Law, Regulation, Effects on Innovation John Doe CSEC 620 Section 9022 Note: This paper was submitted through originality check websites. Table of Contents 1. Introduction 3 2. Private Industry & Regulations 4 3. National Security Concerns 4 4. Methods 6 5. Impacts of Government Regulation 7 6. Compliance 8 7. Responsibility 9 8. The Real World 10 9. Conclusion 11 References 12 1. Introduction Cybersecurity and cybersecurity initiatives are commonplace in all aspects of our digital lives. Personal computers are still widely used, especially in the workplace, but mobile devices seem to be the preferred computing choice of the average person. This would include but not be limited to; smart phones, tablets, and laptops to name a few. Mobile devices have changed the digital landscape in a manner that could not have been predicted. This is because other than work or school related activities, most personal computers were used to play a few games, check email, and browse the internet. These activities eventually transitioned over to the aforementioned mobile devices. Now we mix in social media, and a whole new digital cyber-world has emerged. Talk about getting your head out of the clouds. We live in the cloud, literally and figuratively. What does this mean to the average consumer? Perhaps not much. Most people who operate in the digital world could probably care less about the underpinnings of cyberspace and...
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...So the Confederacy choose to make an arrangement to gain power of the city. Gaining power of Vicksburg is an enormous advantage in the war. On the off chance that the union deal with the city they will cut of the assets that were being sent to their partners. So capturing Vicksburg will help America to win more war and decrease the provisions that were going to the Confederacy. Since Vicksburg was the heart of confederate territory the “Federal strengths in the long run caught post after post. In the wake of battling their path southward from Illinois and northward from the Gulf of Mexico.” Until by late summer of 1862, just Vicksburg and Port Hudson seemed, by all accounts, to be significant limitations to the Union. Grant was sent to catch the city he had numerous attempt that had fizzled and he made a redirection that permitted him to move beyond the protection and get around the city. Allow had numerous attempt to catch Vicksburg, however he continued coming up shortly the sixteenth president gave him one last opportunity to get Vicksburg and the last chance he got it. Concede plan was to experience the stream and after that up by steed riding and assault Vicksburg. Winning the Vicksburg help America defend against Virginian troops. Vicksburg squeezed forward amid this attempting...
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...Printer Version - Board of Governors of the Federal Reserve System http://www.federalreserve.gov/newsevents/speech/bernanke2008041... 1 of 6 4/26/2008 8:02 PM Speech Chairman Ben S. Bernanke At the World Affairs Council of Greater Richmond's Virginia Global Ambassador Award Luncheon, Richmond, Virginia April 10, 2008 Addressing Weaknesses in the Global Financial Markets: The Report of the President's Working Group on Financial Markets In recent months, the Federal Reserve has been intensely focused on the continuing strains in financial markets. Healthy, well-functioning financial markets are essential to sustainable growth. In particular, much experience shows that economies cannot perform at their full potential when financial conditions are such as to restrict the supply of credit to sound borrowers. We are addressing these financial strains and their potential economic consequences with a number of tools, including the provision of extra liquidity to the system and reductions in our target for the federal funds rate. Even as we have worked to resolve the current crisis, however, the Federal Reserve has also been part of a national and international effort to draw at least some preliminary conclusions about the sources of the current turmoil as well as the implications for public policy. In my remarks today I will discuss some of these conclusions and, in the process, identify some measures that should be taken to strengthen the global financial system in...
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