Business Entity Formation, Succession and Protection
Whether you already own your own business, need assistance in the formation of a new business entity, areformalizing an existing venture, or are concerned with protecting your assets, careful planning is a key element.We have the knowledge and experience to assist our clients with their business planning needs. Weprovideentity selection and business formation services as well as advise and counsel our clients on the tax, business and personal aspects of each stage of a business’ development and growth. We frequently advise and assist our clients in establishingthe following entities:
- Family Limited Partnerships
- Limited Liability Companies
- Professional Corporations
- Professional Associations
- S Corporations
- C Corporations
- Private Foundations
Abusiness entity iscreatedunder the Texas statutes, and therefore, compliance with the state’s requirements is imperative. In order to be recognized as a viable business entity and ensure its viability for succeeding generations, an entitymust be properly administered according to the terms of its documents, its agreements and state laws. We can guide you through the various phases of your business’ development. We preparedocuments and agreements as well as assist clients with legal issues that arise in day-to-day operations. Because of ourexperience handling various business legal matters, we can effectively represent your business throughout its life cycle or the transfer of interests tosucceeding generations.
We represent a wide range of family-owned and closely-held businesses. Over the years, our clients have implemented Family Limited Partnerships and/or Limited Liability Companies to:
- Maintain control of family assets;
- Facilitate annual giving without fractionalizing family assets;
- Shift income to lower tax bracket individuals;
- Avoid probate;
- Consolidate investments for efficiency;
- Provide amanagement structure in the event of disability;
- Protect family assets against failed marriages; and
- Promote knowledge of and communication about family assets.
Business entity formation, business succession planning and asset protection planning matters require counsel with specialized knowledge.We welcome your inquiry regarding our business entity practice. Please contact us at 214-750-0800to schedule a consultation.