Capturing a reprieve from certain liabilities in setting up a corporation or LLC is a crucial element of running these professional entities. However, it’s important to understand exactly what liability protections you earn and what liability you are still exposed to. Some professionals, especially those operating professional corporations, make the mistake of overestimating exactly how liability protection works and Read More
The Family LLC – A Unique Estate Planning Tool
A Family Limited Liability Company (FLLC) is a legal entity that serves as an estate planning tool. The main goals are to protect assets from creditors, provide management experience for younger generations, ensure who acquires a direct interest in the family business, prevent fragmentation of the family business and assets, and reduce estate and gift taxes. A Family Limited Liability Company (FLLC) is a legal Read More
