There are a number of tools which can be used as part of the estate planning process to help maximize the value of your estate, the benefits your loved ones will be able to receive upon your death and the protection you will have in your end-of-life arrangements. Setting up a LLC, or limited liability company, is a resourceful way to preserve a large portion of your wealth. Individuals whose estate is comprised in part by a family business, a large stock portfolio or a significant amount of real estate, may want to consider setting up a LLC.
Some of the primary benefits of using a LLC as an estate planning tool are:
- Liability protection. A LLC offers a certain amount of protection to its owners in the event of injury claims, lawsuits or creditor demands.
- The ability to safeguard assets and property.
- To increase tax savings and avoid paying excess estate taxes.
- To make it feasible to pass an equal interest in property and other assets down to one's children without having to create a separate deed for each child.
- To allow for the simple distribution of stock investments without having to create separate portfolios for each individual child, thus potentially lessening the value of any one particular investment.
- To provide valuation discounts to those individuals who have an interest in the LLC.
- To allow for greater flexibility as compared to other business entities.
If you want to protect your family business, property and other important assets, as well as allow for a seamless transfer of assets to your children, loved ones and other beneficiaries, my firm can help. Hiring me, Wendra J. Moran, to help guide you through the estate planning process will significantly increase your chances of being able to protect your estate and reach the goals you set out to achieve.
I am an experienced estate planning attorney who has dedicated my career and legal practice to helping people plan for their futures and provide for their loved ones. I always work with my clients' best interests in mind and take care to do whatever I can to see that my clients' needs are met. To find out how you can benefit from creating a LLC, contact my firm at once.