Nevada is a business-friendly state and the advantages of forming a Nevada corporation or a Nevada LLC are substantial. We assist clients in choosing which Nevada business entity (or entities) is best for their situation. We also help business owners with the unique challenges of business continuation, succession and even business exit strategies. We also work with family business owners to coordinate the business and family estate plans and meet the challenges of estate equalization while ensuring family harmony and the ongoing health of the business.
LLCs are flexible entities for protecting businesses, real estate investments and cash. The only relief against a Nevada LLC is a charging order. A charging order only allows a creditor to receive the right to distributions without any voting rights to force distributions.
A Nevada Series LLC has the added benefit of consolidating multiple Nevada real properties into one LLC divided by chambers. This entity reduces overall cost while providing the ease of consolidated management.
Warning: A single member owned Nevada LLC or Nevada Series LLC may not provide the anticipated benefits. Consult Sundvick Legacy Center for the details needed for a successful LLC structure.
Family businesses, like their owners, come in all shapes, colors and sizes. They range in size from the traditional small business to some of the largest companies in the Fortune 500, accounting for about one-third of the membership in that elite group. Not surprisingly, family businesses are the engines that generate an estimated one-half of the U.S. Gross National Product and pay half of the total wages earned in this country.
Family businesses, however, tend to have a limited life expectancy. Consider this: Less than one-third survive from the founding generation to the next. Then of those that do survive that initial transfer, only about half then survive from the second generation to the third. Statistically, 40 percent of family businesses are confronted at any given time with the challenges of transferring ownership.
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