Protecting your assets is essential to preserving your financial stability and providing peace of mind for you and your loved ones. At The Law Offices of Amy L. Jenkins, we help you navigate the complexities of asset protection with personalized, strategic plans that may include corporate formations (LLCs), family limited partnerships, and irrevocable trusts. With over 20 years of experience, our goal is to protect your legacy from unforeseen challenges and ensure your hard-earned assets remain secure.
An LLC is a flexible business structure that provides you with personal liability protection by separating personal and business assets. It is a popular choice for small business owners and entrepreneurs because it provides personal liability protection that protects your hard-earned money and reduces risks.
Other benefits include:
A Family Limited Partnership (FLP) is a business entity that allows your family members to pool their assets together for management and control while reducing estate and gift taxes.
It creates the flexibility to pass wealth between generations, allowing senior family members to maintain centralized control while younger family members are given limited partnership interests.
An Irrevocable Trust allows you to transfer ownership of assets to a trust, therefore removing them from your personal estate. In doing so, you permanently relinquish control over the assets. This type of trust cannot be altered or dissolved without the consent of the beneficiaries.
Benefits for creating an Irrevocable Trust include: