LLCs are a key part of business, real estate and estate planning. They are a necessity for real estate liability protection and the preferred tool for the transfer of real property to one’s children and heirs.
We organize and properly document LLCs to create the protections, capability and flexibility that an LLC can provide.
The LLC advantage
LLCs provide flexibility in management, structure and ownership not found in a corporate form of ownership. In an LLC, control of the company can be given to a manager that the owners can’t take away. This makes it an ideal gifting device for parents to transfer equity in a business or real estate to their children over time.
LLCs also permit a variety of possible equity structures which may be perfect for investors and for employee stock benefit plans. A company can segment classes of equity ownership for specific ventures or projects, or revenue streams from a channel of business.
And of course, LLCs are a great form of liability protection as long as one follows the rules of protection.