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, Boca Raton FL 33487
(800) 999-9992 or e-mail Info@AssetProtectionAttorneys.com