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Overview of Corporations
Limited Liability Companies
Limited Liability Partnerships
Family Limited Partnerships
Irrevocable & Revocable Trusts
Equity Stripping

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Overview of Corporations

The key strategy of a corporate entity is to insulate the owner's personal assets and/or the assets of other businesses from the debts of the business. A limited liability company (LLC) can provide similar protection. But unlike a LLC, a corporation is actually a poor entity to protect personal assets. The two primary drawbacks of using the corporation as a personal asset protector include:

  1. Assets transferred to and from a corporation can create various consequences, and
  2. Personal creditors can seize any shares you own in a corporation as well as any benefits owed to you by the corporation.

A limited liability company (LLC) and a limited partnership (LP) will overcome these corporate disadvantages and can play a more important role in personal asset protection planning.


The best defense is a good offense.