Serving Las Vegas and Henderson, Nevada, including the Surrounding Areas
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 growth, continuation, succession and even business exit strategies. It is imperative for the wellbeing of business owners and their families to coordinate their business and family estate plans and meet the challenges of estate equalization while ensuring family harmony and the ongoing health of the business.
Nevada LLC (Limited Liability Company)
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.
NV corporations will provide many asset protection features and are more appropriate for various tax and professional licensing reasons, but are not quite as flexible as the LLC for certain tax purposes.
Consult Sundvick Legacy Center in order to determine which entity and design will achieve your business or asset protection goals. Request a consultation. (link to Contact us.)
Family Business Owners and Estate Planning for the Family
The family element in every family business can mean the difference between its success or failure during the transfer process. The retirement, disability or death of the business owner are all common events that can trigger a business transfer.
Tough questions must be asked and answered. Otherwise, a business that took decades to build can be destroyed overnight.
For example, who will run the business after you? Will it be your spouse, one of your children or a non-family member key employee? If your spouse will not run the business, will he or she still be financially dependent on it … or can you make arrangements to ensure they are financially independent of it?
What arrangements have you made for the inheritance of your children who are not active in the business? Have you in-law proofed your estate?
Thinking ahead to the second-generation transfer of your business, what provisions have you made to encourage thrift and industry among your grandchildren? Learn more about Estate Planning Essentials
Business Growth Strategies
What will you have to transfer if the business cannot be sustainable without you? You don't have to run your business alone. The success of your business is dependent upon a multitude of variables.
If you want to:
- breakthrough what's holding back the success of your business,
- discover how to navigate your business in a more streamlined way and
- experience more happiness,
then we have various coaching packages to suit your business.