Elizabeth Business Asset Protection Attorneys
Business owners work extremely hard to set up a company and get it running, investing large amounts of time and money before ever turning a profit. One of the critical things to think about when setting up a company is how to protect your personal assets from business creditors or those who might win a lawsuit against the company in the future.
One of the best ways to protect your personal assets from company liabilities is to form a corporation. A corporation is a separate legal entity from the person or people who form it. That means many things, but the most important feature of the corporate form is limited liability. Basically, limited liability means that the shareholders of the corporation are not personally liable for the debts of the company, at least in the vast majority of situations.
The Newark corporate entity formation attorneys at Bailey & Orozco represent business owners, doctors and other professionals whose personal assets may be vulnerable to creditors. We develop creative strategies to insulate assets from creditors and minimize tax liability while avoiding any allegations of impropriety.
Asset Protection and Wealth Management Strategies
Our New Jersey law firm works closely with each client to develop a strategy that meets his or her individual and business needs. Entity formation is the usually the first step. We listen closely to our clients, and then educate them on the benefits and drawbacks of forming a corporation or a limited liability company (LLC). These two business forms offer shareholders the flexibility they need to take an active role in the business, while at the same time shielding their personal assets from the business' creditors.
Beyond entity formation, our firm also advises clients other asset protection methods, such as:
- Established asset protection trusts
- Establishing offshore trusts
- Asset splitting
Our firm is committed to helping clients protect and grow their wealth. Our asset protection strategies are designed to accomplish that goal. Every business and every business owner is different, so we tailor our services to each client's unique needs and objectives.
Contact an Essex County Business Law Attorney
To learn more about how the New Jersey lawyers of Bailey & Orozco can help you manage your personal and business assets, call 866-919-6193. You can also contact our New law office online.