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1. My business is separate from me. Your business isn’t separate from you and your family unless you make it separate. You think that you are leaving your house and going to work, but really you’re not leaving anything. If you don’t make your business separate and treat it as separate, then it isn’t. If your business gets sued, you and your family will be sued and vice…
Many business owners believe that they can simply incorporate their businesses into an Limited Liability Company (aka LLC) and they’ll achieve LLC lawsuit protection for their personal assets. However, that is an extreme oversimplification of the law and at the core of misleading consumers by the “LLC farms” out there. Lawyers should know that if a corporation or LLC owes a client money, they are allowed to sue…
In the realm of financial planning, creating a trust can be one of the most important steps in terms of achieving solid asset protection and designing an adequate estate plan. It doesn’t have to be a difficult process, but it does require thoughtful consideration and planning. Choose the right legal or financial professional to Protect your Wealth for your family Most individuals, and even…