Helping You Establish a Business Entity in Line With Your Interests
As a person with significant assets, such as numerous rental properties, or a professional that carries certain liabilities, such as a physician, it may be to your benefit to have an operational entity in place to protect you. At the Gemma Law Office, in Braintree, Massachusetts, we work with individuals and families to assess the liabilities and tax incentives of establishing an LLC, or a family limited partnership.
Norfolk County family limited partnership planning attorney Anthony Gemma focuses his legal practice on all aspects of estate planning, including business succession planning. As a part of business succession planning, he has found it is often in the best interests of business owners and their beneficiaries to be set up under an entity that best provides for their needs and protects their interests. To schedule a free consultation, contact the Gemma Law Office online.
Braintree LLC Planning Lawyer
A limited liability corporation (LLC) can be used to separate your business into different components. For example, in a rental business, each property can be held by a separate LLC. If sued, the other properties are not at risk. Without separate LLCs in place, a lawsuit at one property can put all properties at risk.
An LLC will remove your personal ownership over the property's assets, leaving you with an interest in the entity that controls the property. An experienced Braintree LLC planning attorney can help you protect yourself from liability and may be able to offer you opportunity for income tax advantages.
Family Limited Partnership Planning
Family limited partnership planning can be used to manage and reduce the size of your estate. By transferring assets into a family limited partnership, you may be eligible for a valuation discount and will be able to protect family assets from creditors or loss due to divorce. Family limited partnership planning can reduce the value of your estate for tax purposes, while allowing you to effective manage your estate for future generations. Assets will be in place for a lifetime, remaining available to your children and grandchildren.
Contact Gemma Law Office
Contact us by e-mail or call to schedule a free initial consultation. Let us help you make informed decisions to protect your assets.
