Frequently Asked Questions
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Do
I have to share use of our asset with my partners?
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No,
that is up to all of you. Our expectation is that
most partners will not be particularly interested
in socializing with their partners, but instead
simply want to achieve the financial benefits
of asset sharing. Of course, partners may become
good friends and may enjoy participating in the
asset recreation together, but that is not the
norm.. |
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Do
I have to interact with my partners? |
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As
a member of a limited liability company, you may
have to meet at least once a year for annual planning.
Technology is addressing this. We are looking
into digital signatures now.
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Can
we trade our time with partners in other partnerships? |
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No.
Each partnership has exclusive use and control
over its own asset. Each partnership is a separate
entity. This is something we will probably look
more into down the road. |
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Can
we rent or charter our time to others?
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Not
managed by us. We know there is some interest
in this, but at this time our target market are
customers who desire exclusive use of upper-end
assets for personal use. 2nd home tax law may
allow you to rent directly to your friends and
family as long as it is done so at below fair
market value. |
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What
if I can’t use my asset during some of my
scheduled time?
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Yachts
are used on average 31 days per year. Even if
you only own a share of a luxury asset, it is
likely that you will not be able to use it during
all of your available time. If your bylaws permit,
share it with family and friends - or not. |
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Why
do we need to form an LLC?
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The
LLC is a legal entity that provides added liability
protection
between partners. It must be registered and is
issued an IRS tax ID. We will prepare and complete
all the necessary forms for you and can put you
in touch with our attorney if you wish to get
legal counsel. The entity will not generate income
and therefore there should not be any tax consequences.. |
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How
is scheduling determined?
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Very
flexibly. Breeze Easy supports statutory, negotiated
and dynamic scheduling.. Click Scheduling
to learn more.
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Is
fractional financing possible? |
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Probably.
Most lenders want to use the asset for
collateral which would be an issue for your partners,
however, we are working with lenders who understand
our program. Approval occurs on a case by case
basis.
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Do
we have to keep using Breeze Easy forever?
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No. Some of our marketing efforts require contracting
with us for a period of time. But you are an owner
of a legal entity into perpetuity that is otherwise
free to do what ever best serves its partners
as they - you - see fit.
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Don't see the questions you want
answered?
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