Corporations And Limited Liability Companies
Corporations and Limited Liability Companies (LLCs) are entities created by law that essentially have the same rights as a natural person.
For our purposes, these entities are one means of providing for the continuation of your finances and business interests if you become unable to. They are also a means of passing assets to your heirs without the assets held in the entities being subjected to probate.
The discussion that follows is only a general overview to help you' figure out if one of these entities would satisfy your needs. If you are considering creating a corporation or a LLC, it is advisable to consult with an attorney with experience both in estate planning and corporate work. Your needs are different than those of people who set up an entity for their business, which is the norm for "how to" books and web sites.