A business entity that provides liability protection and operational flexibility.
A Limited Liability Company (LLC) is a business structure that separates personal assets from business liabilities. If the business is sued or incurs debt, only the assets within the LLC are typically at risk — not your personal wealth.
In estate planning and asset protection, LLCs serve multiple purposes:
Liability isolation: Real estate, investments, or business operations held in separate LLCs prevent a single claim from reaching your entire portfolio.
Valuation discounts: Interests in family LLCs may qualify for lack-of-control and lack-of-marketability discounts, reducing the taxable value for gift and estate tax purposes.
Succession planning: LLC operating agreements can define how ownership transfers across generations with built-in governance rules.
The effectiveness of an LLC depends on proper formation, maintenance, and — critically — not commingling personal and business assets.
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