Good Business Starts with a Plan
Gilk Legacy Law PLLC provides legal counsel related to business entity formation and the use of those entities and family limited partnerships. Business entities are part and parcel of succession planning, although they are not right for everyone. There are many strategies to consider to safeguard your financial and legacy goals.
Options include corporations, LLCs, partnerships, limited partnerships (LPs), limited liability partnerships (LLPs), limited liability limited partnerships (LLLPs), and sole proprietorships which should all be considered for what works best for your future.
Making the right choice when it comes to business entity formation
Any business entity choice must account for the income tax and estate tax treatment and consequences associated with all of these entities, as well as how or why you may want to convert from one entity to another.