RaceJudicatc

Now that I have your attention, pull out your checkbook. Write out the
next check for the full balance. That’s right, you read it correctly. Close
out the account. While you’re at it, pull the savings account and IRA.
Now, here’s the important part-make it payable to: Mark D. Bolkovac.
There…perfect. What do mean I’m crazy?!? I beg to differ. In fact, most
of you in raceland might be the crazy ones.

Since you refuse to hand over any cash, let me ask a simple question.
How many racers, owners, race teams reading this are incorporated?
How about established as a Limited Partnership or Limited Liability
Company? I thought so !! And you think that I’m crazy.

Have you ever thought about what happens when your crash injures an
innocent bystander? In a recent race, a driver’s door detached and was
launched like a missile approximately 640 feet and stuck in a tree like my
arrow piercing a whitetail deer. Think about that! If it wasn’t 40 feet in the
air, what is the toll to the crowd of fans, pit crews, and workers at the
track, if that height was, let’s say 4 feet off of the ground. Ever heard the
tale of the headless horseman? Exactly!

Now I’m not here to spread doom and gloom, but hey guys, you need
more protection than a date on prom night. Let me add to the
consequences of my aforementioned scenario. Besides the cash, turn
over the house, the car, the rig, kid’s college fund, and just fill in the
blank. Hopefully, you are never involved with this type of serious litigation
and hopefully no one is ever injured due to the negligence of your team.

There is a solution. For minimal costs, you can create a legal entity to
protect you and your family’s personal wealth and assets. If you are a
business owner of any magnitude, it is likely that one of your first stops
was to your attorney to create a corporation or limited liability company.
Why stop there? I’m sure that it isn’t due to the total safety and minimal
risk of drag racing! OK, I had to throw in some sarcasm.

Do yourself a favor and call your attorney or maybe the boys at Nitro Law
to take care of your needs. Make sure that whomever you choose
understands the tax implications of all entities and which one is
appropriate for your specific needs. Within a minimal period of time, you
will provide yourself and family with more protection than a personal
bodyguard, not to mention peace of mind. This is one relationship that
you will never regret.