With all of the business entity choices available to new and existing businesses, a Limited Liability Company (LLC) can be a great entity choice for many types of businesses. They are easy to form, and they help protect your personal assets from the debts and liabilities of the business and its employees. An LLC doesn’t require the strict record keeping, paperwork, or operating formalities that a corporation requires. LLCs also provide flexible income tax options, and they don’t have the strict ownership restrictions of a corporation. Because of these positive qualities, LLCs are often the entity of choice for many businesses. However, most people who create an LLC fail to plan for the disposition of their LLC interest upon their death. Continue reading →