Best Probate Attorneys in Colorado Springs, CO

Your Limited Liability Company (LLC) and Estate Planning Establishing a limited liability company (LLC) in Missouri is a relatively simple process. To form an LLC, you’ll need to submit your articles of organization to the Secretary of State and pay a nominal fee. Unlike certain other states, Missouri doesn’t impose strict formalities for LLC registration. However, adhering to these formalities is essential, especially concerning estate planning. At Axis Law Group, our estate planning attorneys comprehend the nuances of LLC formation and can elucidate the significance of these formalities. What is the purpose of an LLC? As its name suggests, a limited liability company offers business proprietors liability protection, alongside other advantages. Specifically, an LLC separates business assets from personal ones, safeguarding the owner’s personal estate from business-related liabilities. Consider this scenario: Robin Hood, who enjoys crafting hoodies, decides to sell them without forming an LLC. One of his customers, Red Riding Hood, purchases a hoodie but sustains an injury due to a defective drawstring, which impedes her breathing while fleeing from a wolf. She initiates legal action against Robin Hood for her injuries. Without an LLC, Robin Hood’s personal assets, including his bank accounts, are vulnerable. Had Robin Hood established an LLC, only his business assets would be susceptible to the lawsuit.