Business Formation
A solid corporate structure may protect your assets in the event of an insurance claim or lawsuit. We can help you create or make changes to your business structure, including dissolution.
Frequently Asked Questions (FAQs)
How does LLC formation protect my assets?
An individual who is buying investment property should consider setting up an LLC to hold title to the property. The LLC helps protect the individual’s personal assets. If all assets are held in the same name, all of those assets are exposed in the event of a claim or lawsuit, regardless of the location of the incident giving rise to the claim or lawsuit. Assuming the individual does not treat the LLC as an extension of their personal assets, this may add a layer of protection for their personal assets and property. Of course, one needs to consult with their CPA to make sure this benefits them from a tax standpoint, and also consult with an attorney to make sure they understand the limitations and exceptions of this manner in holding title to real property.
