Your beautiful new boat is owned by an LLC, but who gets the LLC when you die?  The way you determine who inherits your membership interest in an LLC when you die (rather than the state making the determination) is by adopting one of the following methods while you are alive: Own the LLC jointly …

Who Will Inherit Your Membership Interest in Your LLC When You Die? Read More »

In a longshore case, an attorney can collect a fee only if successful in prosecuting the case for the claimant. 33 U.S.C. § 928. In the overwhelming majority of successful cases fees and costs are paid by either the employer or the employer’s insurance carrier. Under the LHWCA, an attorney may not collect a retainer …

When Does The Responsibility to Pay Attorneys’ Fees Shift to Employer or Insurance Carrier in LHWCA Cases? Read More »

Selling a boat is similar to a real estate transaction—it’s usually too complex and involves too much value to risk doing it on your own. Good yacht brokers work hard to facilitate the sale of their listings and to protect the interests of their clients, just as a real estate agent would do when you sell your …

Top Ten Reasons to Sell Your Boat with a CYPB Certified Professional Yacht Broker Read More »

When most people think about buying a yacht and placing it in a charter program, they think their boat will be in the BVIs, Caribbean, or even in the Bahamas, and they won’t be able to use their boat very often. However, if you place your boat in a local charter program, for example, here …

The Benefits of Placing a Yacht in a Local Charter Read More »

California imposes a sales tax on new boats and a use tax on used boats purchased within the State of California. While United States federal jurisdiction extends to 12 nautical miles from shore, and includes a 200-mile exclusive economic zone (EEZ), California’s territorial waters extend only 3 miles from shore. These territorial boundaries are set …

Taking ‘Offshore Delivery’ of Your Yacht Read More »