New Mexico and Arizona Attorneys
Most business owners, professionals, people who are starting and growing businesses and people of wealth understand the importance of protecting their family's personal assets by establishing separate entities to hold title to assets. An advanced planning entity offers the statutory protections to keep assets off-limits to creditors, judgments and divorce settlements. Many people do not realize that certain types of planning entities offer more protection than others.
Morris, Hall & Kinghorn, P.L.L.C., has been protecting the assets of business owners, professionals and families for more than three decades. Our experienced advanced estate planning attorneys take the time to evaluate your personal financial needs and determine which entity affords you the greatest protection. By working closely with financial planners at MHK Financial and certified public accountants at MHK Accounting, we provide a comprehensive assessment of your needs and goals.
We Set Up the Right Entity
For most people involved in businesses activities and for most people of high net worth, limited liability companies (LLCs) and family limited liability limited partnerships (FLLLPs) afford the greatest protection against taxes and creditor claims. A corporation does not protect you completely from creditors. While a creditor who has a personal judgment against the owner of the corporation cannot take the assets of the corporation, the creditors could acquire the ownership of shares of the corporation. If an LLC is properly created with an appropriate operating agreement, a creditor cannot attach the interest of the LLC, as could happen with a corporation. Rather, the creditor can be limited to receiving only assets distributed from the LLC to the owner, which distributions the owner can control.
AAEPA • NAELA • WealthCounsel • AV Rated* • CPAs • Licensed Financial Planners
Your family is worth protecting. Advanced planning entities, such as an LLC or trusts, are often essential for your protection and theirs. Let us help you preserve your wealth and success for your future, as well as for generations to come. Contact us to arrange a consultation with an experienced lawyer today. Our offices are located in Phoenix, Tucson, Albuquerque and communities throughout Arizona and New Mexico.
*Martindale-Hubbell's AV peer review rating is the highest-rated category an attorney can achieve in the areas of legal skills and ethical standards. AV is a registered certification mark of Reed Elsevier Properties, Inc., used in accordance with the Martindale-Hubbell certification procedures, standards and policies.
