A Manhattan Attorney For Strategic Business Entity Planning
When the elder generation that leads a family business begins to consider transferring control and maximizing the assets available to the next generation, it is essential to take a hard look at all existing business structures. In many situations, our analysis suggests that formation of a new entity or other changes make sense on multiple levels.
Make Balanced Decisions In View Of Tax Consequences, Risk Protection And Key Relationships
Long-standing New York trusts and estates lawyer Ronald S. Pohl approaches clients’ business entity planning challenges holistically, rather than strictly as a financial adviser or business consultant. Often serving as personal general counsel for families with substantial business holdings, he makes recommendations and spells out options based on his knowledge of their priorities and family dynamics. This can be indispensable when, for example, succeeding family members challenge or do not understand the wisdom of limited liability company (LLC) formation or incorporation.
Under certain circumstances, formation of an LLC can be a powerful way to maintain control of assets, keep them under family control and reduce estate taxes. Less commonly, we determine that corporate formation offers the greatest advantages. In either case, business entity planning should be considered if you are seeking personal liability protection for you and your family members, focused on ensuring trouble-free business succession when the time comes, and/or seeking ways to pass complex assets down in the most cost-effective manner.
Turn To An Attorney Known For Innovation In Asset Protection And Professional Integrity
Business entity planning, integrated with leading-edge tax strategies, should be undertaken before it becomes a pressing need due to age or health problems. To discuss concerns associated with protecting and transferring your legacy, we encourage you to inquire by email or call us at the Pohl Law Group in Manhattan.