Practice areas:

LLCs, CORPs, Professional Corporations

Such business entities become necessary to limit personal liability when purchasing investment properties, or conducting a business for profit. The limited liability protection these legal entities offer shields one’s personal assets held in his/her living Trust from the liabilities of the business or rental properties. The specific type of engagement can lend itself to specific type of legal entity. For example, investment real estate ownership lends itself to setting up an LLC, while doctors, lawyers, veterinarians, etc. professionals are mandated to form Professional Corporations, and register those with the respective body governing the profession.

Business succession planning is essential to those who hold interests in Corporations, LLCs, Partnerships, Professional Corporations, etc. This includes execution of ASSIGNMENTS of those business interests to the living Trust, and reissuing of ownership certificates to the Trust, as well as updating the Bylaws, Buy-Sell, Operating or Partnership Agreements of the business entities to reflect the existence of the living Trust, and to ensure that on death of a business owner, both the family members of the deceased, and the interests of the surviving business partners, are protected.

Contact Maria for Help with Your Planning Needs

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