Orange County Asset Protection: Is an LLC the Best Choice for Protecting Assets?

3:07 pm Uncategorized

As far as personal asset protection goes, an LLC (Limited Liability Company) is probably your best option. So what makes an LLC so great? You hear all the buzz but no one really talks about why the alternative to incorporating is so fantastic.

An LLC offers the same kind of protection that an S or C-corp does, making it extremely difficult for judgments against your company to affect your personal assets. The mistake that small business owners make when setting up an LLC is doing it themselves or online; you just can’t guarantee how well you will be protected personally if you don’t enlist the help of a California asset protection attorney.

In addition to protecting your personal assets by separating you from your company (which sole proprietorships or partnerships do not do), an LLC offers individual business owners to take advantage of the kind of tax breaks that small businesses have access to as partnerships. For company owners that are looking for ways to protect personal wealth and have some of the tax perks they may have enjoyed before they grew out of partnership status.

As good as an LLC may sound, the common mistake entrepreneurs make is assuming without legal counsel that it’s the best fit for them. The only way to know this for sure is to sit with a California asset protection attorney who understands exactly which business type (sole proprietorship, partnership, LLC, S-Corp or C-Corp) will give you the best protection and advantages that your company can get the most use out of.

Asset protection is an important part of estate planning as well. If you are a small business owner, you need to consider how an estate planning lawyer in California can keep your assets and estate safe from predatory creditors and those who may file suits against you or your business.

Help is available to you by contacting your Southern California financial planning experts today.

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