Protecting the Assets of your LLC in California

8:40 am Uncategorized

Many people think that when they create a new business venture as an LLC that the assets held therein are completely bulletproof. While it is true that LLCs offer phenomenal protection while also offering great tax benefits to small and medium-sized business owners, the truth of the matter is that when creditors want what they feel they’re owed, they will exercise their rights to the fullest extent of the law. The importance of California business transaction lawyers starts to come into play on what could turn into a battlefield; you need an experienced tactician on your side.

When you create your new LLC, do it with the counsel of a California business transactions attorney to make sure you know exactly what is protected and how. You need to be aware of your creditors and the moves the can pull to get what they want. There are options to make things more difficult to access, but you should NEVER try to understand and implement these on your own – you’re not a legal professional, and you want your company and what it owns safe… and legal.

A creditor can obtain a judgment or foreclose on property if you owe them money. Talk to your California asset management attorney about how this can be avoided and/or ways to establish asset protection for your LLC in California that will better protect what your business entity owns.

Contact us today for individualized planning strategies to meet your unique needs.

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