Landlords Protect Your Personal Assets
There is no better time to protect yourself from tenant lawsuits! Transfer your property to an LLC.
We can help you form your California Limited Liability Company (LLC). We will work with you and determine which LLC is best for you and provide a Comprehensive LLC Organization Package that contains everything you will need to operate the California limited liability company in compliance with California law.
Pros of Forming an LLC:
Asset Protection
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Should an accident occur, you might lose not only the property itself, but all of your other personal assets as well. For example, if some negligent act results in severe injury to a tenant, worker, or guest, the claimant will be able to attach your personal assets (including other properties, your home, bank accounts, vehicles, stock) to satisfy the judgment. By contrast, if the property is held in a California limited liability company, the LLC may be liable, and its assets subject to attachment by the judgment creditor, but the individual member's personal assets will remain protected.
Estate Planning Benefits
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Rather than filing a new deed, members can transfer ownership of the property to their children by simply increasing their membership percentage in the LLC.
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Best of all, current tax laws allow a tax-free gift of up to $12,000 per year and because the interest transferred from a parent to the child(ren) would be an unmarketable minority interests, the IRS will permit up to a 40% valuation discount on the fair market value of the real estate being transferred.
Tax Benefits
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NO DOUBLE TAXATION!
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Get the tax benefit of being treated like a partnership, or sole proprietorship,
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A Single-Owner LLC offers an additional unique benefit: the IRS will automatically classify a single-owner LLC as a sole proprietor. The owner of the LLC reports the LLC's profits or losses on Schedule C of their personal tax return (usually Form 1040)
Anonymity-Our Law Firm Will Act As Your Agent of Service
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California law requires tenants be provided with the name, address and telephone number where lawsuits and formal notices can be served. As your attorney, only our law firm’s name, address and phone number will be displayed.
LLC FORMATION INCLUDES:
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Attorney Consultation & Guidance
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Preliminary Name Search and Reservation
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Preparation and Filing of Articles of Organization
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Custom Drafted Operating Agreement
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Preparation of Statement of Information
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Acquisition of Federal Taxpayer ID Number (EIN)
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Ownership Certificates
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Corporate (LLC) Seal
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Typical LLC is Formed California LLC in 7 Business Days
Total LLC cost is typically $1295, which includes costs.
For more information please call our office at:
800 77 EVICT (38428) and ask for Madison Block or
feel free to use our online form below.
