Using LLCs to Protect Family Assets

Take Away

LLC statutory charging order provisions offer unique asset protections to family businesses.
Statutory conversions of corporations to LLCs can prevent the loss of family businesses to creditors of family members.
Series LLCs can pose serious legal risks for family members and other investors.
A little-known IRS "Proposed Regulation" can save family LLC members thousands of dollars in Social Security taxes.
Foundations should think twice before investing in "low-cost LLCs" ("L3Cs").

Using LLCs to Protect Family Assets Recording Available

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