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Banton Business & Legacy Law, LLP offers preventative protection of your funds and other assets through our limited liability asset protection. When considering various organizational forms for your business, limited liability refers to the separation between business and personal assets. Let us help you leverage your limited liability to protect your assets. Contact us online or call us at (636) 200-3798 as we conveniently provide services throughout St. Louis, Manchester, Ellisville, Wildwood, Eureka, Town & Country, Chesterfield, Ballwin, West St. Louis County, Kirkwood, St. Charles, Florissant, O'Fallon, Fenton, and Mehlville, Missouri.
This term is used to describe the wall between your personal and business assets. For example, with limited liability, a business creditor would not be able to reach other types of assets.
With Limited Liability: Business creditors can only reach business assets and personal creditors can only reach personal assets.
Without Limited Liability: Business creditors can reach business and personal assets and personal creditors can reach personal and business assets as well.
Additionally, the owner’s liability for a business debt is limited to what the owner has invested in the company. This explanation allows you to see why
having limited liability asset protection from an experienced attorney is so important. With more than three decades of experience dealing with limited
liability asset protection, Banton Business & Legacy Law, LLP, should be your first choice in proper commercial legal representation.
Which Business Forms Lack Full Limited Liability?
Sole proprietorships, partnerships, and limited liability partnerships do not have full limited liability. This means that these types of companies have the most risk when it comes to limited liability asset protection.
Keep creditors from seizing your hard-earned assets with protection from being registered a Limited Liability Company, or LLC. LLCs enjoy the benefits of a corporation without double taxes. Having a LLC is a very effective way to transfer assets from your name to a tax-neutral, asset-protected entity. A personal judgment in court is not valid against a LLC’s assets. Being an LLC comes highly recommended by our qualified attorneys.
LLCs and corporations enjoy the most protection of their assets when compared to sole proprietorships, partnerships, and limited liability partnerships. If you are operating a business that is not a LLC or corporation, you should seriously consider converting your business to an LLC or corporation. Our expert business lawyers can accomplish this task in a tax-free manner and change your liability from unlimited, personal liability for your company’s debt to limited liability. Allow us to provide you with superior limited liability asset protection in St. Louis, Missouri.
Limited Liability Limited Partnerships Available Through Our Firm
Missouri is a state that allows limited liability limited partnerships, or an LLLP. An LLLP is registered under state law so that a general partner has limited liability. This is just one form of limited liability asset protection that is available to you through Banton Business & Legacy Law, LLP. Being a LLLP guarantees that all of the owners will have limited liability.
Ensure your limited liability asset protection with our legal guidance. Contact us in St. Louis, Manchester, Ellisville, Wildwood, Eureka, Town & Country, Chesterfield, Ballwin, West St. Louis County, Kirkwood, St. Charles, Florissant, O'Fallon, Fenton, and Mehlville, Missouri, for more information.