How can I protect my personal assets from business liability risks?
Risks from your business may endanger your family’s life savings, if you are not properly prepared. The Limited Liability Company (LLC) has become the most economical and popular way for small and family businesspeople to shield their personal assets from the liability risks present in their business.
If unprotected, farm and ranch operations, rental properties, and all manner of small businesses expose owners’ personal assets to liability risks emanating from worker or visitor accidents, or from disgruntled employees. Protecting your business interests with one or more LLCs can create a liability shield designed to keep an aggressive plaintiff’s attorney away from your personal assets.
In addition to liability protection, “single-member” LLCs provide desirable “pass-through” taxation, so that the LLC owner can easily report his business income directly on Schedule C of his or her personal or joint federal tax return.
Our LLC setup services are reasonably priced, and we will be happy to integrate your LLC(s) into an overall estate plan protecting you, your business, and your family from generation to generation.