Safe Harbors: An Asset Protection Guide for Small Business Owners (Business Owner's Toolkit series) [Paperback]

Nicholas C. Misenti JD (Author)

Book Description

Series: Business Owner's Toolkit series | Publication Date: May 1, 2003

The latest techniques for preserving family wealth and legally avoiding personal liability in the operation of a small business are provided in this guide. Intended for the small business owner, the strategies discussed are equally effective in larger businesses. Taken together, these strategies provide a multilayered approach to asset protection, offering redundant protection and often presenting an insurmountable barrier to creditors. Topics covered include the types of property that are exempt from bankruptcy and legal judgements; and methods for using insurance, asset transfers, and asset protection trusts as a second level of defence. The strategies detailed in this book have been proven effective by actual court cases. Alternatives are contrasted and compared in terms of costs, complexity, and effectiveness, affording owners the opportunity to choose approaches based on their needs.

Editorial Reviews

About the Author

Nicholas C. Misenti, J.D., is an attorney practicing in the areas of estates and trusts, tax, business planning, and asset protection. He lives in Glastonbury, Connecticut.

Product Details

• Paperback: 500 pages
• Publisher: Toolkit Media Group (May 1, 2003)
• Language: English
• ISBN-10: 0808004123
• ISBN-13: 978-0808004127
• Product Dimensions: 9.9 x 7.1 x 1.1 inches
• Shipping Weight: 2 pounds
• Average Customer Review: 4.7 out of 5 stars  See all reviews (6 customer reviews)
• Amazon Best Sellers Rank: #522,586 in Books (See Top 100 in Books)

Customer Reviews

Most Helpful Customer Reviews

16 of 16 people found the following review helpful:

5.0 out of 5 stars What every small to large-sized business owner needs !!, June 20, 2003

By A Customer

This review is from: Safe Harbors: An Asset Protection Guide for Small Business Owners (Business Owner's Toolkit series) (Paperback)

It's clear that the author has years of experience in protecting business owners' hard-earned assets. The author's asset protection strategies range from simple and inexpensive to complex and costly. This really makes the book suitable for managers of large corporations as well as small business owners.

At 500 pages, the book is detailed and comprehensive, but easy to read. Who would have known that in many states taking out a second mortgage on a house could make it exempt from attachment, while in other states, just the opposite approach, i.e., paying off the first mortgage, is what's required? Or that an IRA shields assets from the claims of creditors in many states and thus provides much more than a tax shelter, while in other states an ERISA-qualified 401(k) plan is a better choice? The author sorts all of this out in an authoritative but easy to read guide. Many readers will wish that they had this book years ago before financial problems developed. But, even there the author has strategies that can help avert a disaster.

The content, layout and design of this book make it not only indispensable, but actually fun to read. The tips, warnings and anectdotes are terrific. Attorney Misenti obviously has wide ranging experience in this field and his writing style is superb.

12 of 12 people found the following review helpful:

5.0 out of 5 stars The Ultimate Wealth Preservation Guide, May 28, 2003

By A Customer

This review is from: Safe Harbors: An Asset Protection Guide for Small Business Owners (Business Owner's Toolkit series) (Paperback)

This is the ultimate guide to wealth building and wealth preservation. I've read other guides on forming an LLC or a corporation, but I never realized how woefully inadequate those other guides were before I purchased this book. As the author points out, many business owners form an LLC or a corporation without understanding how to strategically fund the entity, avoid exceptions to limited liability, or transfer assets to exempt categories, all of which are necessary if financial wealth is to be preserved in the face of lawsuits or bankruptcy. This guides teaches how to do all of that, and more.

The addition of actual cases, state asset exemption lists, and business forms for LLC's, makes this one of the best books of its kind that I've seen. Apparently this is one book in a series from the publisher that has received a lot of acclaim. ...

10 of 10 people found the following review helpful:

5.0 out of 5 stars Save a Million Dollars! Timely Guidance, May 28, 2003

By A Customer

This review is from: Safe Harbors: An Asset Protection Guide for Small Business Owners (Business Owner's Toolkit series) (Paperback)

I've read that small business and entrepreneurs lead the country out of a recession. This guide could not be more timely. Don't start a business or expand your business without buying this book. This guide should be in the library of every business owner and well used. This really is the best, and most comprehensive asset protection guide on the market for small business owners, corporate mangers, and individuals interested in preserving their wealth.

I like the fact that the author proves that, when his asset protection strategies are put into place before financial problems arise, they are virtually beyond challenge, even to the extent of preserving an individual's entire wealth against the most significant of claims. I found it amazing that, with the right planning, millionaires can emerge from a major lawsuit or bankruptcy with no loss at all! Want to save a million dollars or all of the assets you have worked hard to create? Buy this book NOW and put a comprehensive asset protection plan in place based on the author's recommendations.