In today's complex legal and risk landscape, properly structuring your business or investment holdings is essential for asset protection. At Bequest, we help our clients establish their Limited Liability Companies (LLCs) in order to add liability protection to their comprehensive estate plan.
Why Choose an LLC Structure?
The LLC has become one of the most popular business structures for good reasons. For example:
Personal Liability Protection: LLCs create legal separation between your personal assets and business liabilities.
Tax Flexibility: A single member LLC is considered a pass through entity, meaning it does need its own tax filing and can be reported on the members 1041. Other LLCs can choose how they want to be taxed (as a sole proprietorship, partnership, S-Corporation, etc). Once formed, a CPA can help decide the most tax advantageous structure.
When Do You Need an LLC?
An LLC provides a powerful combination of legal protection and flexibility that makes it ideal for many situations such as the following:
Real Estate Investments: If you own rental properties or real estate investments, an LLC can shield your personal assets from liability associated with those properties.
Small Business Owners: Entrepreneurs benefit from the liability protection and tax flexibility that LLCs provide without the complex requirements of corporations.
Estate Planning Components: As part of a broader estate plan, LLCs can help facilitate smoother asset transfers and potentially provide tax advantages.
Our LLC Planning Process
At Bequest, we have developed a streamlined process to establish your LLC efficiently and effectively. Here is some insight to how we handle LLC formation:
Step One: The Initial Consultation
We begin with a thorough discussion of your goals, assets, and specific needs to determine if an LLC is the right structure for your situation.
Step Two: LLC Formation
Once we have established that an LLC is appropriate, we handle the complete formation process, including preparing and filing Articles of Organization with the Secretary of State and obtaining your LLC's Certificate of Organization.
Step Three: Drafting Your Operating Agreement
Once the Secretary of State approves the LLC filing, we draft a comprehensive Operating Agreement tailored to your specific needs.
Step Four: Securing Your EIN
We then obtain an Employer Identification Number (EIN) from the IRS for your LLC, which is necessary for tax reporting, opening bank accounts, and other business transactions.
Step Five: Property Transfer
Finally, for those clients using an LLC for real estate holdings, we prepare the deed to transfer property into the LLC and record the deed with the appropriate county office. This step is essential to complete the liability shield.
Transparent Pricing
Bequest Law believes in transparent, straightforward pricing. Our LLC planning services are offered at a flat rate of $850. This includes all of the following services:
Formation of your LLC (which includes initial filing cost with the Secretary of State)
Drafting a customized Operating Agreement
Obtaining an EIN
Transferring property into the LLC (which includes the cost of recording one deed in the state of Georgia)
Handling/tracking the signing process (either in person in our office or remotely if you live out of state)
Recording of the deed (if applicable)
Ready to Protect Your Assets with an LLC?
If you are interested in exploring how an LLC might benefit your business or estate planning strategy, we invite you to schedule a consultation with one of our attorneys using the link below. Our experienced attorneys will help you understand if an LLC is right for your situation and guide you through every step of the process with expertise and personalized attention.
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The most important step in estate planning is starting the conversation. Secure your family’s future today by reaching out to us. Contact Bequest Law by: Emailing hello@bequest.law, Calling 404.500.7531 or Scheduling a consultation HERE.
Let’s create a custom estate plan that gives you peace of mind and protects what matters most. Don’t wait—start planning today!