LLC Formation and Succession Planning
LLCs have become the most flexible and preferable entity for most operating businesses. They combine tax planning flexibility with administrative simplicity, legitimate asset protection, and a built-in plan for succession of interest after the business owner retires or dies.
LLCs provide a powerful tool for estate planning, too. Families who may not operate ongoing businesses can still benefit from the protection and flexibility that LLCs provide, by creating a proven and reliable structure to manage and distribute family property to children or future generations.