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Benefits of Single Member Limited Liability Companies

The limited liability company (LLC) form of entity is the appropriate form of conducting business for, many, if not most, sole proprietors. The primary reason for this is that this form of entity permits an individual to enjoy the benefits of limited liability and to...

What Is An LLC? Limited Liability Companies In General

What is a Limited Liability Company? Basically, a limited liability company (LLC) is a legal entity that became available under Washington law. An LLC is an unincorporated association that provides its members with the beneficial tax aspects of a partnership and the...

Three Mistakes to Avoid When Planning the Succession of Your Business

Many small business owners are focused on running their business, rather than planning for its succession. By focusing only on the here and now, however, a business owner can set his or her business up for failure once it is time to relinquish control. 1. Delay The...

What You Need to Know About the FLLC

One popular yet confusing estate planning tool is the Family Limited Liability Company (“FLLC”). FLLCs are frequently created as part of an estate planning strategy used to facilitate gift giving to a person’s children and grandchildren. FLLCs are also used to shield...