LLCs

It is best to think of organizing an LLC as starting a business, rather than contributing to a fund. After assigning property or assets to the LLC, the organizing member or members are allowed to distribute a percentage of the ‘shares’ in the LLC at a discounted value. Members of the LLC spread tax liabilities across all members on a pro rata basis, which often drops individual members into a lower tax bracket.

Forming an LLC is also an excellent way to protect your personal assets from liability in the event of a lawsuit. Members of an LLC technically hold private shares in the company, rather than monetary assets. Talk to us about personal litigation risk management strategies.

If you are interested in learning more about establishing yourself as an LLC in North Texas, Livens & Reed, PLLC is ready to help. With two offices to serve you better, our attorneys and staff provide comprehensive estate preservation and asset protection planning services for clients in the Dallas-Fort Worth Metroplex area and communities throughout North Texas. Call us toll-free at 817-650-0882, or contact our offices by email to arrange a free initial consultation with an experienced Dallas LLC estate planning lawyer today.