Updated Thursday, April 24, 2014 as of 3:47 PM ET
Star Power
Saturday, October 1, 2011

While many stars use entities such as LLCs to hold various real estate or business ventures, this planning strategy often falls short. If the LLCs are structured as single-member entities, they can protect personal assets from a claim against the property or business conducted by that LLC. However, that approach does little to protect the various business entities from other attacks, such as a large guarantee gone bad, an ex-spouse or someone who has sued the client personally.

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