How LLCs Can Protect Business And Personal Assets

At Liberty Street Estate Planning, we help families and individuals protect their personal assets through estate planning tools such as revocable trusts. However, for individuals with a more complex asset list, we are able to leverage the insight of our founding attorney, Thomas E. Greene III, to protect both their personal and business assets through the formation of limited liability companies or LLCs. Mr. Greene has served as counsel for numerous businesses from coast to coast and understands the laws related to business formation in many states.

Why Use LLC Formation For Protection?

One of the vulnerabilities related to being a business owner is rooted in the fact that if a creditor or a plaintiff in a lawsuit seeks compensation from you personally, he or she may also attempt to go after your business assets to obtain additional money. If you form an LLC properly, we try to form a firewall between your personal and business assets.

This strategy is not new, but it requires the input of an experienced attorney to accomplish successfully. Tom Greene will discuss all of your estate planning and asset protection needs during your initial free consultation. He will then discuss which assets you may wish to place in a revocable trust, and which ones are more properly placed in an LLC. He will also advise you which states are most favorable to form your LLC in terms of taxes, fees and state-specific regulations.

Protecting Business And Personal Assets With LLCs

Protecting your personal assets from business challenges by forming an LLC provides what is known as "internal protection." But LLCs can also protect business assets. Mr. Greene can guide you in the steps needed to form an LLC in a state where they are a legally favored business entity. Once the process is complete, creditors or plaintiffs seeking to access your business assets will find that much harder to do.

Learn More About LLCs And Asset Protection From A Pro

Our firm can offer you sophisticated asset protection strategies for surprisingly affordable rates. Call our office at 706-395-8213 or email us via our online form. We serve clients throughout Georgia and across the country.