If You Own a Business You Must Separate Your Assets.
Posted on May 6, 2019 12:27pm PDT
One of the smartest things you can do when setting up your business is
separating the assets from the operations. This is especially important
if you have significant assets or a high-risk business. When protecting
your business and the assets, the structure you use when organizing your
business makes all the difference.
If your operating business is sued and all of the assets are held in the
operating business, then all of these assets are vulnerable to be seized
or forfeited for a judgment lien.
In order to prevent this, separate your business assets into separate LLC’s.
The operating business will lease the assets from the separate LLC’s
and create a financial agreement. This way, if the operating business
is sued, a creditor cannot get the assets which are held in the separate
LLC’s.
There are many important details to consider besides the general splitting
of assets and operations. The Presser Law Firm, P.A. specializes in business
Asset Protection.
The Presser Law Firm, P.A.
6199 N. Federal Highway, nationwide FL 33487
(800) 999-9992 or e-mail
Info@AssetProtectionAttorneys.com