LLCs are relatively new business entities. They take the best of corporations and partnerships and merge them into one awesome hybrid entity. It has tremendous flexibility in a variety of important ways, which makes it the right choice in many circumstances. For example, they can elect to be taxed in 4 different ways. LLCs taxed as a partnership can allocate profits and losses and distributions any way you want (provided it has substantial economic effect). You can modify most of the governing law on LLCs with few exceptions. They are less burdensome than corporations and less expensive than other entities to maintain. They also are used in estate planning to mirror limited partnerships and have important asset protection benefits if structured properly. Again, LLCs may not be appropriate in some circumstances so invest the time now to get it right or spend the money later.
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Protect your family, assets and business, and gain the peace of mind of knowing you’re prepared and in control. You may feel apprehensive about estate planning, but it doesn’t have to be this way. We’ll help you achieve your estate planning goals and ensure you feel accomplished and confident. With our 4-step unique proven process, leaving a legacy you can be proud of is easier than you think. The alternative can mean significant taxes, court, costs, conflict (litigation) and a host of unpleasant and destructive surprises. Call us to get started today at 954-228-3369.
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