Protect Your Business
The structure of your business may be critical to protecting your estate
In addition to setting up comprehensive estate plans, we also advise our clients on protecting their assets through business structuring. If you are doing business as a partnership or sole proprietor, your personal estate could be exposed to claims that others might make against your business. This could not only put you out of business but also deplete your personal estate that you have spent your life building. We can help protect your personal estate and your business by structuring your business as a limited liability company or a corporation. This can put your personal assets out of reach from lawsuits and help your business to not be a target against unreasonable claims. An added benefit is that establishing your business as a legal entity can, in many cases, offer tax benefits. We can work with your CPA to help you establish a business structure and estate plan that will help protect you and your business and help you reduce your tax burden.
Plan to pass your business on to your family
No matter how your business is structured, you can benefit from a well-prepared estate plan. However, we can help you structure your business along with your estate plan to help reduce the inherent risks to both. Does your business structure and plan reduce the risk of a lawsuit? What will happen to your business if you die or are no longer able to run it? Do you have all the necessary documents in place to allow others to continue the business without interruption? Because your business may be a target for unreasonable claims from others and is part of your estate, we can evaluate your business structure and help mesh the protections of your estate plan with your business.