LLCs have become the most flexible and preferable entity for most operating businesses. They combine tax planning flexibility with administrative simplicity, legitimate asset protection, and a built-in plan for succession of interest after the business owner retires or dies. LLCs provide a powerful tool for estate planning, too. Families who may not operate going businesses can still benefit from the protection and flexibility that LLCs provide, by creating a proven and reliable structure to manage and distribute family property to children or future generations.

There are other tools regarding business formation, such as forming a family limited partnership, which might be appropriate to integrate into your overall estate plan.  Whether you need assistance in forming a corporation, along with corporate minutes, by-laws, and issuance of stock certificates or you need an overall review of how your business currently operates and whether it provides the appropriate protection for your personal assets, we can discuss your situation to see what is best for you and your family.
Wealth Counsel Advisor Forum Estate Planning