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13 Jan 2010, 5:12 pm
People who own several similar assets, such as multiple rental properties, often use a series LLC where each property is owned by a separate subsidiary LLC. [read post]
31 Jan 2023, 10:45 am
A vacation home LLC is a family business that allows a vacation home owner to pass down their property, specifying how the property can be used and how decisions will be made. [read post]
7 May 2021, 12:24 pm
In contrast, if all properties were in a single traditional LLC, all would be at risk for a claim arising out of any one property. [read post]
4 May 2012, 4:56 pm
The lien gives the creditor a right to receive any distributions of money or property from the LLC to the debtor member. [read post]
6 Jun 2012, 7:53 am
See Royal Capital Development LLC v. [read post]
30 Mar 2010, 6:22 pm
Under this exact reasoning, you should also have a separate LLC for each property you own excluding your personal homestead because you want your Florida real estate interests held by separate “people.” I will illustrate the importance of having a LLC own Florida real estate. [read post]
6 Dec 2011, 4:00 am
People tend to like the flexibility afforded by the LLC. [read post]
19 Jan 2018, 12:48 pm
For examples, celebrities use LLCs to purchase real estate to avoid having their names appear in public property records along with their personal address and purchase price paid. [read post]
30 Oct 2010, 2:38 pm
The more LLC property located in your filing state, and the less LLC property in Florida, the better your argument to apply the filing state’s LLC laws pertaining to collections against your single member LLC. [read post]
26 Sep 2007, 2:10 pm
For example, it turns out that when a person contributes property to a co-owned LLC, in effect, each person sells their property to the other owners, and from then on the computation of the owner's tax basis in the property becomes amazingly complicated and subject to a number of special technical tax elections, which most LLC owners never find out about. [read post]
3 May 2011, 10:29 am
Consequently, people have been forced or convinced to forego their property on illegal grounds. [read post]
20 Mar 2019, 8:43 am
People that can emulate the tax and ownership characteristics of other entities, such as a sole proprietorship, partnership, or corporation. [read post]
21 Jun 2022, 4:07 am
When most people think of a trust, they think of a vehicle for transferring intergenerational wealth. [read post]
23 Oct 2011, 11:00 am
The other party tries to seize your 50% interest in the rental property LLC. [read post]
15 Feb 2018, 2:25 pm
Many people love their pets as if they are their children. [read post]
15 Feb 2018, 2:25 pm
Many people love their pets as if they are their children. [read post]
11 Jun 2012, 5:57 pm
So many people believe that the most important decision in forming an LLC for asset protection purposes is deciding in which state to register the LLC. [read post]
26 Jul 2022, 3:52 pm
Call the offices of McNamara Phelan McSteen, LLC today at 815-727-0100. [read post]
6 Jul 2020, 9:25 am
For example, LLCs work much like partnerships when it comes to ownership rights, but people often incorrectly assume ownership that LLC interest is analogous to corporate stock and that LLC membership is analogous to being a corporate shareholder. [read post]
6 Jul 2020, 9:25 am
For example, LLCs work much like partnerships when it comes to ownership rights, but people often incorrectly assume ownership that LLC interest is analogous to corporate stock and that LLC membership is analogous to being a corporate shareholder. [read post]
