Tag: LLC
What are the Benefits of Structuring Your Business As An LLC?
Posted on October 11, 2024
One of the most important early decisions an entrepreneur will make is to decide on the corporate structure of his or her business. The choice of corporate structure will influence many factors tied to a company’s success, operation, and growth. An Illinois business law attorney can advise you on the popular Limited Liability Company (LLC) corporate structure. Here are some of the basics about LLCs and why so many people choose them. Liability Protection As the name suggests, limited liability companies offer owners protection from personal liability if the company […]
Top Asset Protection Strategies to Use in a High Net Worth Estate Plan
Posted on March 20, 2024
When it comes to estate planning for high net worth individuals and families, asset protection is a critical component. Protecting your assets ensures that your wealth will be preserved for future generations, safeguarded from potential creditors, and structured in a way that aligns with your long-term goals. With the guidance of a knowledgeable attorney, you can implement strategies that effectively shield your assets while maintaining compliance with legal standards. Establishing Trusts Trusts are a vital component of many estate plans, and they ensure that assets will be managed correctly, preserved, […]
Legacy Planning for High-Net-Worth People
Posted on January 4, 2024
Legacy planning is critical to estate planning, especially for those with significant wealth. For those with estates worth over $5 million, there are specific considerations and strategies to maximize the preservation and distribution of assets. If you are a high-net-worth person interested in legacy planning, a dedicated lawyer can provide the guidance necessary to ensure you can achieve your estate planning goals. Estate Tax Planning High-net-worth individuals with estates worth over $5 million should be aware of the potential impact of estate laws in Illinois. Proper tax planning can help […]
Benefits and Drawbacks of Structuring a Business as a Corporation
Posted on December 4, 2023
When starting a business, one of the key decisions to make is how to structure your company. There are a variety of different types of structures available, including sole proprietorships, partnerships, limited liability companies (LLCs), and corporations. A corporation can offer a number of advantages, but this structure may only be appropriate for certain types of businesses. An attorney who has experience in business law can provide guidance on whether a corporation is the ideal business structure, and they can also ensure that the proper procedures are followed when incorporating […]
Naperville Business Lawyer Discusses the Difference Between a Limited Liability Company and a Limited Liability Partnership
Posted on January 27, 2020
If you are planning on starting a business, you will need to decide what type of business entity is right for you. The type of business structure you choose will influence nearly every aspect of your business, so it is important to do your research and select the type of business structure that best meets your needs. The most common types of businesses include partnerships, sole proprietorships, corporation and S corporations, limited liability companies and limited liability partnerships. Each of these business structures come with different legal implications and tax […]
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