How LLC Can Protect On Your Estate Plan

Many people associate forming an entity such as an LLC with starting a new company. Nevertheless, LLCs and other entities can also be useful tools for estate planning. When you open an entity it can help you meet your estate planning goals, while keeping control over your assets in your hands while you are alive, and minimizing the impact of taxes after your demise.

Estate Planning And LLCs 

Business owners understand that a limited liability corporation (LLC) is a legal entity that protects its owners from personal liability in case of a lawsuit while giving the owners a great deal of flexibility over the LLC’s assets. When used as part of estate planning, an LLC can assist people with significant assets to avoid estate taxes affecting the size of their heirs’ inheritances. It can also make it easier for you to give gifts for members of your family during your lifetime without triggering gift taxes and other issues that may arise.

Charitable Giving

If charitable giving is a significant part of your estate plan, setting up a charitable entity can help you support the causes most important to you in an organized, ongoing manner. One of our estate planning lawyers will partner with you to establish your charitable entity so that it will be viable in the long term.